http://www.20min.ch/ro/news/economie/story/Les-mouvements---7-francs-de-Franck-Muller-16306649
in French but her's some translation
It's like opening the hood of a Ferrari and finding the engine of a little Ciroën car. An independant watchmaker in Geneva said in this article ' I buy these Franck Muller movements for 7 Swiss Franc'
Some of these diamond bling pieces cost 30.000 usd and have a 10 franc quartz movement. This newspaper investigated the manufactory based in Genthod and discovered a scandal. Muller was founded in1992 and very succesfull in 2000. BUT ... production tools were shipped from Geneva to headquarters in Armenia. Co-founder of the brand Vartan Sirmakes made this decission. Good watchmakers from Geneva were sent to Yerevan to train local employees.
This particular maneuver raises the problem of "swiss made", since at least 50% of operations must be performed in Switzerland .