Swiss Mutual Fund originally claimed on its website that it was created after World War II in 1948 by the Cheviot family of France, with operations based in Bern, Switzerland.
[1] On 17 September 2007, the Financial Supervision Commission of the Commonwealth of Dominica issued a press release, which confirms that Swisscash is not a registered or incorporated company and does not have any established business in the island nation.
[10] On 6 November 2009, the Securities Commission Malaysia entered into consent judgement with those involved to pay a sum of approximately RM 31 million to eligible investors who have suffered losses as a result of the Swiss Cash scam.
[11][12] On 21 December 2011, in its final status report to the Kuala Lumpur High Court, the Securities Commission Malaysia revealed that it had completed the distribution of the Swisscash settlement sum of RM 30.5 million to 19,625 eligible investors.
Prior to the final settlement, a total of 29,885 claims amounting to RM 188 million were received from Malaysian and foreign investors of the Swiss Mutual Fund.