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Old 19.04.2011, 14:19
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Re: American needs help from someone in Zurich or Hergiswil

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Suspicious mind, I like that. The "proper legal channels" are not as proper as you would be led to believe. International authorities do not like being accused of harboring fugitives. In addition, many countries, in dealing with the U.S., adopt a "they deserve what they get" mentality, and the governments are not very helpful at all. In this case, the investment that was made was a small amount, and would not be of interest for the authorities, either internationally or within Switzerland, to pursue.

Actually, I got exactly what I was looking for from EF, and I appreciate it.
A valid argument of course. But best would be your coming over to Zurich, get in touch with a lawyer (most speak English) and then proceed on a local non-governmental level, therefore circumventing red tape of three level (union/Canton/City).
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  #122  
Old 19.04.2011, 14:20
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Re: American needs help from someone in Zurich or Hergiswil

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So, how about the full story?
Short version, a guy who claims to be in Switzerland (Hergiswil) approaches investors in the U.S. with a "business opportunity". Once investor agrees, funds are wired into a Swiss bank account to a company (Sigalus, in Zurich) that claims to be involved in another financial transaction. When transaction for Sigalus is completed, funds are to be repaid to individual in Hergiswil, who then repays investor in U.S., or U.K., or wherever else they are. Various excuses are made, money is never repaid. They keep it on a small enough scale where authorities are not concerned enough to do anything about it, but repeat the scheme multiple times.
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Although the company is based in Switzerland, it is run by a British citizen, so this is no reflection on Swiss people.
The full name of this British person is listed in the commercial register.
It is not really advisable to accuse someone of unproven criminal activities on a public media.
Just sayin'
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  #123  
Old 19.04.2011, 14:21
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Re: American needs help from someone in Zurich or Hergiswil

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Mr. Breakfast shies away from technology, not owning a television set, relying on ancient mobile phones for rudimentary communication and cracking WEP keys for his internet hi-jinks. He also lives in places that feature such things as "cellar terraces" (the very thought has me in goose bumps)- but moves often. I would tread carefully .
Thanks. Warning noted.
  #124  
Old 19.04.2011, 14:24
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Re: American needs help from someone in Zurich or Hergiswil

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A valid argument of course. But best would be your coming over to Zurich, get in touch with a lawyer (most speak English) and then proceed on a local non-governmental level, therefore circumventing red tape of three level (union/Canton/City).
Thanks for the advice. We are already in communication with two firms who are willing to help, and they have begun preliminary investigations. This might be the perfect excuse for me to jump on a plane and pay a visit to Switzerland.
  #125  
Old 19.04.2011, 14:35
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Re: American needs help from someone in Zurich or Hergiswil

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Upon intial inspection, everything seems to be legitimate to anyone doing any casual research.


Needless to say I feel sorry for whoever's granny got taken in by it but... come on. No offence Magnum, but I consider myself a pretty casual researcher and that website looked dodgy to me soon as I clicked on it.

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Thanks, but the information you have is incorrect. You can't trust everything you read on the internet. We have already contacted FINMA and presented the case, as well as received their response. The company we are dealing with is monitored by a Self-Regulated Organization (SRO), which agrees to act as something of a watchdog agency for FINMA.
Now you tell me!

Right, which SRO is it that is supposed to be monitoring this company, and that declines to take an interest in the alleged defrauding of investors? (There's a list of them here if you need it to jog your memory.)


Laying aside the abbreviations for a minute:

So, we've established the company is dodgy as all get out. I could have told you that with a look at the website, but hey, that's why they pay you the big bucks, right?

OK, now what?

I'm still perplexed as to what you reckon you can do about this if, as you say, you've already ruled out all official channels. No, perplexed is too strong a word. Bemused.
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  #126  
Old 19.04.2011, 14:56
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Re: American needs help from someone in Zurich or Hergiswil

On a side note - the FINMA probably is not the best first point of contact.

If I were the aggrieved party, I would file a charge against this company at the Swiss police - they have departments who deal with financial fraud/organised crime, and are impartial and do a pretty good job.

How you approach the Swiss police from the US though I don't know, I assume you have to contact the FBI first, and they will take it from there.
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  #127  
Old 19.04.2011, 16:30
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Re: American needs help from someone in Zurich or Hergiswil

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On a side note - the FINMA probably is not the best first point of contact.

If I were the aggrieved party, I would file a charge against this company at the Swiss police - they have departments who deal with financial fraud/organised crime, and are impartial and do a pretty good job.

How you approach the Swiss police from the US though I don't know, I assume you have to contact the FBI first, and they will take it from there.
The reason for contacting FINMA is to establish communication with all of the involved agencies that might have jurisdiction over the case. It is just being courteous to the local authorities, regardless of whether they can actually help.

In dealing with local authorities, like the Zurich police, it is always helpful to provide them with as much information as possible right up front so any complaint made has valid evidence to back it up. The easier you can make someone's job, the more willing they are to help.

The FBI is only helpful to a point, because they mainly deal with crimes in the U.S., and are somewhat restricted as to what they can and can not pursue internationally. In addition, something relatively small (to them, not the victims involved) such as this would not get the proper time it deserves as far as an investigation. It is easier to do all the background checking and information gathering, and then present them with a case where all they have to do is validate the information, and they are then potentially in a position to take action. The criminal punitive actions that law enforcement and government agencies can take are sometimes more powerful than any civil action that can be pursued.
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  #128  
Old 19.04.2011, 16:38
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Re: American needs help from someone in Zurich or Hergiswil

Do you think it might make sense to watch what accusations you throw around on a public forum eg potential for slander? Please don't be as naive as whoever was about investing.

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So, how about the full story?
Short version, a guy who claims to be in Switzerland (Hergiswil) approaches investors in the U.S. with a "business opportunity". Once investor agrees, funds are wired into a Swiss bank account to a company (Sigalus, in Zurich) that claims to be involved in another financial transaction. When transaction for Sigalus is completed, funds are to be repaid to individual in Hergiswil, who then repays investor in U.S., or U.K., or wherever else they are. Various excuses are made, money is never repaid. They keep it on a small enough scale where authorities are not concerned enough to do anything about it, but repeat the scheme multiple times.
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  #129  
Old 19.04.2011, 16:39
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Re: American needs help from someone in Zurich or Hergiswil

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079 is Swisscom
076 is Sunrise
077 is Migros
078 is Orange
Unless they've transferred their phone number from the original carrier. Then it could be any one of them.
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  #130  
Old 19.04.2011, 16:48
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Re: American needs help from someone in Zurich or Hergiswil

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As for the people on this forum, if someone wants to come on here and be a jerk, or provide false information, I can't stop them. That's their problem, not mine. But it seems that most people have been very helpful and nice.
Give Magnum some credit for figuring out EF in 1 day.
  #131  
Old 19.04.2011, 16:48
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Re: American needs help from someone in Zurich or Hergiswil

Only 079 4xx are the most desirable amongst Swiss mobile snobs
  #132  
Old 19.04.2011, 16:57
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Re: American needs help from someone in Zurich or Hergiswil

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Thanks for the offer, but they emailed me back with confirmation of what I was looking for.

Every picture I've seen of Switzerland has been beautiful. I'm surprised your country doesn't get overrun by tourists.
It IS overrun by tourists and expats. But to get them is important business in Switzerland. And inbound-tourism, right behind the export-industry, is money-earner nr 2 in this country.


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On a side note - the FINMA probably is not the best first point of contact.

If I were the aggrieved party, I would file a charge against this company at the Swiss police - they have departments who deal with financial fraud/organised crime, and are impartial and do a pretty good job.

How you approach the Swiss police from the US though I don't know, I assume you have to contact the FBI first, and they will take it from there.
This exactly is why I suggested the other way round. If the FBI and the US federal administration gets involved, it will in Switzerland go to the Federal Justice Ministry, and from there to the Cantonal Justice Ministry and from them to the Cantonal Police, and the procedure likely will take ages.
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  #133  
Old 19.04.2011, 17:31
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Re: American needs help from someone in Zurich or Hergiswil

I just Googled Sigalus Group and noted that this thread comes up on the first page of hits. Which means Magnum's bad guy is likely shredding documents right this second and will be on a plane to South America by tonight. Which means that he will be back on, needing the country code for dialing Brazil by tomorrow morning!

Last edited by Textoch; 19.04.2011 at 17:36. Reason: Typo
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  #134  
Old 19.04.2011, 17:53
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Re: American needs help from someone in Zurich or Hergiswil

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I just Googled Sigalus Group and noted that this thread comes up on the first page of hits. Which means Magnum's bad guy is likely shredding documents right this second and will be on a plane to South America by tonight. Which means that he will be back on, needing the country code for dialing Brazil by tomorrow morning!
It then will be SIGALUS DO BRASIL SA
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  #135  
Old 19.04.2011, 18:00
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Re: American needs help from someone in Zurich or Hergiswil

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I just Googled Sigalus Group and noted that this thread comes up on the first page of hits. Which means Magnum's bad guy is likely shredding documents right this second and will be on a plane to South America by tonight. Which means that he will be back on, needing the country code for dialing Brazil by tomorrow morning!
but interestingly not at all if you use www.google.ch
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Old 15.05.2011, 14:29
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Re: American needs help from someone in Zurich or Hergiswil

This is suggesting that there is some fraud, which is of course complete nonsense, and why it is posted on here rather than through any correct or official channels. There is a well defined process for complaints in Swizterland that are more productive than idle gossip. This complaint, if that is what it constitutes, is entirely spurious, malicious, cowardly and without any foundation whatsoever.
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  #137  
Old 15.05.2011, 17:29
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Re: American needs help from someone in Zurich or Hergiswil

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This is suggesting that there is some fraud, which is of course complete nonsense, and why it is posted on here rather than through any correct or official channels. There is a well defined process for complaints in Swizterland that are more productive than idle gossip. This complaint, if that is what it constitutes, is entirely spurious, malicious, cowardly and without any foundation whatsoever.
Welcome to the forum.
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  #138  
Old 15.05.2011, 17:47
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Re: American needs help from someone in Zurich or Hergiswil

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This is suggesting that there is some fraud, which is of course complete nonsense, and why it is posted on here rather than through any correct or official channels. There is a well defined process for complaints in Swizterland that are more productive than idle gossip. This complaint, if that is what it constitutes, is entirely spurious, malicious, cowardly and without any foundation whatsoever.
You may be right, you may be wrong, but absolutely no reason to get excited about the matter Somebody in pursuit of some investigations may well check up on NON-conventional channels. Which to me is perfectly alright.

If the man comes round, it would be nice to see him on one of the EF meetings here
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Old 15.05.2011, 17:55
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Re: American needs help from someone in Zurich or Hergiswil

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You may be right, you may be wrong, but absolutely no reason to get excited about the matter Somebody in pursuit of some investigations may well check up on NON-conventional channels. Which to me is perfectly alright.

If the man comes round, it would be nice to see him on one of the EF meetings here
I suspect our new member might be connected to this matter in some way. Or non-matter as the case may be. Otherwise, it's a fairly odd first post on EF.
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  #140  
Old 15.05.2011, 18:23
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Re: American needs help from someone in Zurich or Hergiswil

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I suspect our new member might be connected to this matter in some way. Or non-matter as the case may be. Otherwise, it's a fairly odd first post on EF.
My thoughts exactly.

Well, either that or one of our regular forum pot-stirrers made a duplicate acct just for the fun of watching the chaos.
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