Is Swiss Golden A Scam?

I really don’t know what to think of this but reading the report below kept me wondering if something is actually wrong with Swiss golden.

I know a lot of you are into swiss golden an online investment platform that deals with the buying and selling of gold bars. I have a lot of people into it and I haven’t heard any complain from them so far but reading this report on Vanguard kept me hanging on the fence.

swiss golden

Economic and Financial Crimes Commission, EFCC, has busted the activities of an online company, Swiss Golden Company Limited, which defrauded over 7,000 Nigerians to the tune of over N3 billion.

EFCC said:

‘’The Economic and Financial Crimes Commission has recovered N216,402,565.05 from Swiss Golden Company Limited, an online investment that purportedly deals with buying and selling of gold bars.

‘’The recovery was sequel to a petition the commission received from thousands of complainants who alleged that they invested in Swiss Golden Company Limited, which was advertised as an online investment that deals in buying and selling of gold bars.

‘’The petitioners further alleged that after investing over a billion Naira into the business, Swiss Golden refused to pay them any dividend or pay them back their capital.

‘’Upon receipt of the petition, the commission swung into action by first inviting the petitioners where they volunteered statements. Through intelligence, the commission picked up one Maxim Lobaty, a Russian and two Nigerians, Austin Emenike and Dickson Nonso Onuchukwu, in Lagos.

’The trio were, subsequently, conveyed to the Kano operational zone of the EFCC for further investigation.

‘’Swiss Golden, which is headquartered in Hong Kong, was discovered through investigation to be a Ponzi Scheme designed to defraud innocent victims of their hard earned money.

“After being drilled at the commission’s Kano zonal office, Maxim and his co-suspects consented to the refund of the investment. It is through that, a total of N216,402,565.05 have now been recovered.


“Investigation into the alleged fraud is still on going and all efforts are being made to recover the money involved and the alleged suspects brought to justice.”

As you are reading this, seminars are still currently ongoing in some states and people are still joining daily. Those of you who are into swiss golden, is it really a scam? Have you been scammed?

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25 thoughts on “Is Swiss Golden A Scam?”

  1. Heard about this in 2016 and I was tempted to join until mmm issues came up so just had to respect myself and run away.

  2. Swiss golden is nothing but a terrible scam. My friend was defrauded into the tune of #400,000. Have put all his hope on the scheme..

  3. Those into it should let us know if the dividends are coming or not. But somehow, i feel this country and particularly EFCC might be against progress chasing after smaller thieves if at all

  4. Nawao . I don’t trust all this swiss dis and dat. A friend introduced that shit to me but I rejected it. Somehow many has made so much money but some people must lost their money.

  5. Well I noticed something fishy about this scheme, and I warned most of my friends. Some months ago, I also noticed that the activities of swiss golden users online, have reduced most especially a friend of mine who was at the fore front. He has gone into hiding.

  6. Good morning Mr Yemi, I’m not into Swiss Golden yet but to the best of my knowledge Swiss Golden is base in Switzerland not Honk Kong

  7. I have been away for a while. I really missed your blog. Now to the issue of Swiss golden. Right from the first time i heard of it, i knew it was a ponzi scheme. When you join, you also have to invite someone else or more people to join and after a while they give you huge returns on your investment. The only thing that made it look so real and viable is the notion that you are trading in gold bars, which actually exists but not in the manner that Swiss golden made it look like. Trading of real gold bars is a very secretive business because of the worth of gold and sometimes lives are even at stake because of some trying to corner sellers or buyers. If you have watched the movie ‘Italian job’, you get an idea of what I’m saying. Some very rich countries like Britain for example use it as measure of their wealth. For any amount of money released into their economy, they have the equivalent in gold bars. Thats why their currency is the most valuable and stable worldwide. Trading of gold bars is not a joke, and not open just like that to the public like swiss golden is. Any company or business that does not have a clear and evident means of what they are using customers invested money to do and have to rely on new customers joining so that their money can be used to pay the others is a ponzi scheme. Mmm, helping hands, twinkas etc all fall into this category. That’s why when new customers are no longer coming in, money to pay becomes a problem and gradually they die down. Swiss golden made theirs look so real by even actually giving you a fabricated gold plate bar of the amount “invested” as they say to convince you that you are really into it. But you have never seen the real gold bars you are trading with your eyes or if you demand to, they may show you some in their possession to make you believe. Also theirs is not cheap like so many other failed ponzi schemes. I once joined a Swiss golden group and the least starting amount was over 100k. But people weren’t that skeptical, they felt after all its gold we’re dealing with. And that amount also means that most people who are joining are usually financially stable and not people who will disturb them too much when there’s a delay in payment or something of that nature. Some even affiliate it with swisscoin but they are not related. Swisscoin just like bitcoin and some other viable coins are not ponzi schemes but E-currencies which can be traded. Its just like stock broking, u risk by buying shares and if u are lucky, the prices go up and u sell and make profit. U can be unlucky and the prices keep going down and u make a loss. Of course, swiss golden is also risk, many have made their money and many have lost out, but their mode of operation is the difference. Swiss golden are using new customers money to pay the old ones and the money re-invested by the old ones are used to pay older customers above them like a pyramid just like mmm and the others. I don’t like discouraging people anyhow but truly Swiss golden is a ponzi scheme

  8. First if all, it’s entire context sounds pathetic. Dealing in GOLD BARS ONLINE! I’m sorry for those who lost money to it, it’s really sad

  9. I believe it’s a scam simply because of what i read online two days ago. The same news you posted just now. For the EFCC to get involved, something is fishy and the culprits are singing like a bird already and also refunded some of their loot

  10. Anything similar to ponzi count me out. Somebenefict while so many bears the cross. From the name self one would know its not safe

  11. These disasters are too many, God!!! We keep loosing our hard earned money and resources. Still mourning the demise of MMM


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