Several taken down schemes: Phoenixsurf.com, FrancSwiss, SwissCash

While fraudulent schemes pop up everywhere, government agencies are making progress to catch them. The more people report them, the faster they will fall.

Here is a report on Phoenixsurf.com:

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SEC Charges Operators of Phoenixsurf.com Web Site With Conducting a Massive Internet Ponzi Scheme

FOR IMMEDIATE RELEASE
2007-141
Washington, D.C., July 24, 2007 - The Securities and Exchange Commission today filed securities fraud charges against the operators of an Internet-based Ponzi scheme that raised $41.9 million in just four months from more than 20,000 investors worldwide.

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For the full report see www.sec.gov/news/press/2007/2007-141.htm

Or for FrancSwiss internet fraud see http://newsinfo.inquirer.net/breakingnews/infotech/view_article.php?article_id=75039

And for SwissCash or Swiss Mutual Fund Web frauds (www.swissmutualfund.biz.) see http://www.todayonline.com/articles/167644.asp . Of course, a Swiss company based in the Commonwealth of Dominica should have raised alarm bells with investors.

Also, check out the Web site of the Monetary AUthority of Singapore, the maintain a list of fraudulent sites:
http://www.moneysense.gov.sg/check_our_list/Consumer_Portal_IAL.html . But because of the fast changing nature of these fraud internet sites, such list will never be complete.