Are you a client of SMH / Swiss Metal Assets?

For those asking about a company called Swiss Metals claiming to operate in Panama, an article in PanamaGuide.com reads :

Swiss Metal Assets S.A. (SMA), the Panamanian branch of Schweizerische Metallhandels AG, with offices in Switzerland and the Republic of Panama now offers you solutions for the protection of your wealth. Protection of your wealth can be achieved through purchasing physical ownership of rare industrial metals and industrial silver granulates. SMA products allows you to convert your currency into High Demand Rare Industrial Metals, TAX FREE.

Swiss Metal Assets, S.A., (SMA), and its trading partner Schweizerische Metallhandel AG, (SMH) are operating together throughout Europe and the Americas focusing on the trade and distribution of rare industrial and precious metals. *_Our business is not Stocks, Bonds, Shares Certificates, or Futures_* Five years ago three German entrepreneurs realized that there was a need for people to exchange the paper cash into real assets such as metals. They began selling Silver and Gold only, but after speaking with the owner of Haines & Maassen, one of the top traders in the world in rare industrial metals they made an agreement to offer Rare Industrial Metals to the general public for the first time as a contingency to secure and preserve wealth. Together they set up a company where you can invest in these metals and store them in the Swiss duty free zone, Zürcher Freilager AG, a Swiss Warehouse Operator since 1923. Since then we have converted cash into real metals assets worth millions of dollars for Germans and many other Europeans. Now for the first time this is available in the Americas. (more)

The following process is supposed to be followed:

Purchase Process:

• 1. Sign Purchase and Storage Contracts

• 2. Receipt of Client’s funds by Swiss Metal Assets

• 3. Transport of Metal Asset to the Entrepot Warehouse

• 4. Assets are assigned a Charge Number and an Invoice Generated

• 5. Client receives Invoice and Ownership Certificate

• 6. Time line is generally three weeks from receipt of funds

Resale Process:

• 1. Two Options Client Request for ReSale or Industry Request for Purchase

• 2. With Client Request we will ask our Metal Trader for the daily price of each metal and advise client

• 3. With Industry Request our Metal Trader will provide the purchase price to the seller

• 4. Funds will be transferred to any Bank Account world wide

Floor 18, Office O of the Aseguradora Ancon tower,
presumably the office of Swissmetal, Inc. 

 More recently, the SMH website announces that:

Panama City, Panama – Strong demand and rapid growth of Schweizerische Metallhandels A.G. (SMH AG), and their partner in the Americas Schweizerische Metallhandel Panama S.A. (SMH Panama) , a Panama based supplier of rare strategic metals, has allowed them to welcome Swissmetal Inc (SMI), as their second service provider. Knut Andersen, previously the sales manager of Swiss Metal Assets (SMA), their first provider, is spear-heading the new venture. SMI has been running at full capacity from their new Panama location in Costa Del Este since October 2012.

Clients of SMH are asked to sign this waiver of rights

Several clients who hired lawyers found to their surprise that:

• SMH SCHWEIZERISCHE METALLHANDEL PANAMA,S.A., had as first directors:

DIRECTOR: ULRICH SCHWARK
PRESIDENTE: PETER BERND STEHLING
TESORERO: CATHERINE VERBEL
SECRETARIO: BIRGIT RUNGE

• SMH SCHWEIZERISCHE METALLHANDEL PANAMA, S.A., never had a business license.  The company was dissolved on October 16, 2016.   This means that a period of 3 years is open for liquidation of its assets with their last directors as trustees liable for its debts.


• No Panama company called Swiss Metal Assets S.A. exists in the Public Registry but a New York LLC was registered in New York by Juliette Passer since July 21, 2011 https://opencorporates.com/companies/us_ny/4121004
• The Panama Ministry of Commerce lists a company called Swissmetal Inc. with offices in Costa del Este, Panama City:

Número de Aviso de Operación:	2276052-1-786004-2014-407589
Nombre Comercial:	SWISSMETAL INC.
RUC:	2276052-1-786004 DV 23
Fecha de Generación:	10-Feb-2014
Representante Legal:	KNUT EGIL ANDERSEN
Ubicación:	PANAMÁ, PANAMA, JUAN DIAZ
Urbanización:	COSTA DEL ESTE
Edificio:	PH TORRE ASEGURADORA ANCON
Apartamento:	PISO 18 LOCAL O
Actividad Comercial:	SERVICIO DE PROMOVER Y MERCADEAR LAS VENTAS DE METALES Y OTROS SIMILARES

This office is now part of an unrelated French company.

Investors should ask a lawyer to review a contract or conduct due diligence of its directors before sending funds to accounts related to any investment.  Your suggesitons or corrections to this data are welcome and may be posted anonymously in the comments.

See also:
http://www.panama-guide.com/article.php/20110107163500673
http://smhpa.com/contact/
https://www.panamaemprende.gob.pa/publico.php?pag=certificAO&anio=2014&ao=11692&Suc=655436&a_buscar=__swiss_______on_on&np=1
http://www.ripoffreport.com/reports/smh-schweizerische-metallhandel-panama-s-a/panama-city-other/smh-schweizerische-metallhandel-panama-s-a-smi-swissmetal-inc-i-have-also-invested-i-1355113