Thread: Facts, Probable Facts, Speculation and Prediction

From the original author...me!

Roving PIPS reporter here! I have been haunting the forums and my contacts for information over the last week and after weighing the bits and pieces based on source reliability, attitude, past accuracy and geographical location I have compiled a current update. I will once again categorize by fact, probable fact, speculation and prediction. I was tempted to add a "half-truth" category as well, but so many of them are floating around the forums and in other updates that I will assume you've seen them. If you haven't, consider it a blessing as all they will do is cause panic and make you freak out with worry!

I will not say that it's all roses and butterflies in PIPS garden right now, but if you look at the facts objectively, I think you will come to the same conclusion as I... that it isn't all weeds and mosquitos either.

Fact: All PIPS sites and related sites went down on Tuesday, August 16.

Fact: About an hour before they went down Bryan posted an update and the IT department did as well. I did not copy the IT post, but they did say the sites would be down. Bryan said this:

Posted: Tue Aug 16, 2005 9:44 am
Post subject: MESSAGE FROM BRYAN

We are still working intensely on the solutions. There is a lot of rubbish being put about on what is happening, I have not and will not release any information until we have the whole thing together. Everything you see is pure speculation.

Even my staff do not know what our lawyers, financial advisors and I are doing, a little knowledge is dangerous and gets totally distorted.

All I will say is that EVERYTHING WILL WORK OUT OK!
Regards
Bryan

Fact: Bryan has a history of calling a spade a spade and telling his members when a program is impossible to continue.

Fact: The UK consultants working with Bryan have stated that there are viable options to make everything work or they wouldn't be putting in the effort.

Excerpt from an update by Rex, one of the UK consultants working with Bryan:

2. In my Q & A I told you that PIPS would have to be restructured and
that it could not continue in its pre-existing form. I told you that
Robin was in Malaysia at Bryans request to assist in the planning of
that reconstruction. He returned having completed his part of the task
last weekend. However, we do not know which restructure plan Bryan has
elected to go with.

3. I advised you that The Bank of Negara (equivalent to Bank of England)
would have to assess and approve any reconstruction. Therefore it should
come as no real surprise that it has chosen to seize the books and
records to enable that assessment. I have considerable experience of
working in this situation. The banks' primary concern will be
management, how the need for the reconstruction came about, whether the
management were culpable in the problem, and whether the proposed
reconstruction is potentially successfull.

4. The sites are down because of that seizure. All of the books &
records are computerised. I am no computer nerd, but even I recognise
the difficulty of managing a changing situation without the physical
presence of the machinery.


Fact: Bryan had an appointment with a government agency for an audit as early as mid July, but that was delayed several times.

Fact: Bank Negara, Malaysia's Central Bank, was at PIPS offices on Tuesday Aug 16.

Fact: A group of disgruntled merchants sent a letter of complaint to Bank Negara last week (probable date is in early August) accusing Bryan/Picpay of illegal actions and asking them to investigate.

Fact: Eyewitnesses report that the bank officials entered and discussed with Bryan and staff. The bank team consisted of mostly tech people (since records are stored electronically).

Probable fact: No eyewitness accounts included mention of uniformed policemen or forced entry or confiscation of any kind.

Fact: Bank Negara's team left with the servers and databases to do an audit of the company.

Fact: Employees and staff were sent home by Bryan and told to come back to work on Monday (August 22). All PIPS offices are closed. The Bistro remains open.

Fact: PIPS is registered in Panama. Picpay is registered in Labuan (Malaysia).

Fact: Bank Negara has no authority over PIPS. It is Picpay that is being looked over.

Fact: Bryan registered a new website on August 5 called "PSKFinance"

Probable fact: Any plans for restructuring Picpay must go thru the Malaysian authorities.

Fact: Bryan contacted Tom Broadbridge from PIPS Premiere on August 18 and asked him to post this message on the Aussie forum.

Hi All,

I just received a call from Bryan, he asked me to make this post as, unfortunately, due to circumstances beyond his control, he is unable to access his computors

Bryan asks that everyone to please remain calm, he is currently involved with meetings with the Malaysian authorities, further meetings are planned over the next couple of days to resolve a number of issues.

Bryan expressed his confidence that all issues will be resolved and asked me to convey his thanks and appreciation for all the support.

Thats it for now!!

All the best
Tom


Fact: Malaysian law is extremely strict on fraud.

Fact: Neither Bryan nor Sharon have been arrested.

Speculation: Consensus on the forums is that this is a positive move forward in Bryan's efforts to find a solution to the Picpay fiasco. There are many negative spins on the information available, such as this was a raid involving police and confiscation, etc. But those close to the offices do not report it this way and we do know that Bryan had scheduled a meeting with some government agency to go over the books and get a clean bill of health so that payments could move forward.

All eyewitness reports indicate that the visit was no surprise and had been planned. It was in fact an appointment Bryan was looking forward to. My opinion is that he was NOT expecting them to take the servers and databases however and when it was realized that it was necessary for them to take them to their offices to do the audit, Bryan and the IT department posted an update before they pulled the plug so that we would know not to worry.

Many think this is a forward move on getting the bank set up in Cambodia as well.

All we can do at this point is wait until next week to see if the servers are returned as planned and the sites are back up by Wednesday at the latest (unless there are tech problems doing so). The other thing we can do is not to panic when you see the negative spin floating around. The facts are tweaked to create fear and confusion. Anything you see by Warren must be taken with a grain of salt. He recounts facts as HE INTERPRETS THEM and admits to not being privy to all information and reasoning behind certain actions.

There are also several things floating around that are complete fabrications or half-truths. The facts are above. Look them over and decide for yourself if this is a positive or a negative event.

My prediction is that the banking officials will give Bryan clearance to continue in his plans for restructure and aid his efforts to get us paid in a timely manner. I still predict that PIPS will change very little if at all. Picpay will change form or be replaced entirely.

So hang in there until next week as we see what unfolds. I will send another update when enough facts are gathered. I do hope this will help to clarify what is going on and reduce some of the fear that is out there. Don't believe everything you read. Be discriminating based on source and factual information. Is what you are reading a reaction or information? Reaction based on fact or reaction based on someone else's reaction?

Until next week,
Suzanna

It's more than speculation.
It's a facts.

Very informative summary.

Thank You suzanna for Your exelent report,
and
thank You shangzheng for confirming it. Your confirmation means a lot.

olive

Yes, your confirmation does mean a lot Shangzheng. Thank you. I have confirmation from an independant and VERY reliable source that you have posted the truth as well.
You and Nair are the ones I follow most on this forum.
:-)

Well said my dear, you write like an educated Brit.

I know all of this to be true.

Originally Posted by callum

Well said my dear, you write like an educated Brit.

I know all of this to be true.

Thanks. I am, in fact, an educated Yank.
LOL

May I do some name calling, too?
You are a sweet child of Mother Nature. :)

We appreciate all your reports Suzanna. Keep up the good work.

forely and mrsforely

Thank you for the re-assuring assessments, Suzanna.

Originally Posted by suzanna

Originally Posted by callum

Well said my dear, you write like an educated Brit.

I know all of this to be true.

Thanks. I am, in fact, an educated Yank.
LOL

:lol: