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I have read almost all post about Pips from the beginning to now.
When Pips was going strong, I saw alot people praising how good Sharon and Byran were.
And when I saw today news about his arrest, almost everyone cursed him.
I am not a pro-Byran guy but I think Pips did not hold a gun against your head and ask you to participated in Pips. You guys invested (because of greed).
Its over now, let it go......
SEREMBAN: In the country’s first online money laundering case investigated by Bank Negara, a couple was charged at a Sessions Court here with 41 counts of money laundering, involving more than RM26mil.
One of them, a British national, was slapped with an additional seven charges involving RM7.5mil at a Kuala Lumpur Sessions Court.
Bryan John Marsden, 58, and his Malaysian wife Phan Sew Ken, 50, allegedly committed the offences by receiving money that were proceeds of unlawful activities between Aug 12, 2003, and Jan 4, 2005. They claimed trial to all 41 charges.
NUMEROUS CHARGES: Marsden and Phan being led to the Sessions Court in Seremban yesterday. The couple were charged with 41 counts of money laundering.
Marsden, who is a director of two companies, also pleaded not guilty at a Kuala Lumpur Sessions Court to seven charges of receiving proceeds of unlawful activities believed to be from illegal deposit-taking in Labuan amounting to RM7.5mil.
As regards the charges at the Seremban Sessions Court, the transactions, amounting to US$7,020,887.25 (RM26,679,371), were said to have been done through their company (New Mark Business Centres Sdn Bhd) account with EON Bank Group in Nilai, Negri Sembilan.
The two were arrested yesterday and charged separately under Section 4 (1) of the Anti-Money Laundering Act 2001, read together with Section 87 (1) of the same act, before Sessions Court judge Mohd Zaki Abd Wahab yesterday.
If convicted, they can be fined up to RM5mil or face a maximum five-year jail term or both.
DPP Dzulkifli Ahmad proposed bail at RM1mil in two sureties for each, saying that money laundering was a very serious offence.
However, the couple, who were unrepresented, appealed for a lower bail, saying their company and personal assets had been frozen for the past 12 months and that they did not have any money.
Mohd Zaki set bail at RM500,000 in two sureties each, ordered the surrender of their travel documents and fixed Sept 13 for mention.
At the Kuala Lumpur Sessions Court, Marsden, of Bandar Sunway, was accused of receiving money ranging between RM500,000 and RM2.5mil, which were proceeds of unlawful activities through two accounts of PIC Capital Sdn Bhd and PIC Capital Ventures (M) Sdn Bhd.
PIC Capital is a leasing company while PIC Capital Ventures is a dormant company.
Marsden, who has been in Malaysia since 1997 and was the owner of the leasing company, was said to have committed the offences at Malayan Banking Bhd in Desa Pandan between Dec 23, 2003, and July 6, last year.
DPP Dzulkifli proposed bail of RM500,000 in two Malaysian sureties.
Marsden told Sessions Court judge Akhtar Tahir: “I have lost everything. There is nothing to say at this stage.”
Akhtar fixed bail at RM500,000 in one Malaysian surety and set Oct 30 for mention pending an application for the case to be transferred to the Seremban court.
After proceedings ended at 4pm yesterday, Marsden was taken to the court lock-up where he hugged his sobbing wife for some time.
A Bank Negara official told reporters later that it was the first investigation of a case where illegal deposit-taking was allegedly done via the Internet.
theBat$
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COMING TO PENANG?
TAKE A LOOK AT WHAT'S IN STORE, LET BATTY BE YOUR GUIDE!
I guess according to everyone here, he's guilty unless he proves himself innocent. Used to be you were innocent until proven guilty. It's a sad state of affairs when a federal, state or local government can charge someone with crimes and all who hear of the charges assume that person is guilty rather than innocent.
Please note that the charges refer to "money laundering Aug. 12, 2003 through Jan. 4, 2004" on monies received through EON bank; and the amount is specific. It is my GUESS that these funds were received from "investment(s)" (at least 41 transfers of funds) made to P**S account to pay the ROL we were all to receive. I am sure that there were many more "transfers of funds" than that from the many "loans" in P**S.
Also, note that the investigation did not start until Aug. 2004. So, why are the investment funds received before Aug. 2003 and after Jan. 2004 not included in the charges?
In the USA everyone is presumed innocent until proven guilty. I will wait to see the outcome rather than make judgements before I actually see the evidence that BNM has accumulated, and we can all say we do not have the entire evidence that BNM has. If BM and SM are guilty, they will receive the punishment afforded by the authorities for what they are guilty of.
Another point to make is that their travel documents were surrendered at the time of arrest. That means BM and SM could have traveled to some other locality that would not allow extradition back to Malaysia, if they had in mind to do just that.
Sept. 13 is not that long of time to wait, but I am sure this will just be a hearing and not the trial, as it has been stated that the time is allowed for BM and SM to retain an attorney. It will take a time for their council to become aquainted with the charges and evidence accumulated by BNM and to create a defense. The trial will probably take quite a time before it is over.
Since most of us are not citizens of Malaysia, nor are most of us international lawyers, we do not know the laws of Malaysia - we can not second guess what will happen to funds within their reach. We are still in a wait and see situation. If funds are to be divided up with those that "loaned", an administrator will be assigned (at least in the US) to oversee the distribution of funds. Of course there will be charges allowed to do that.
Wow, three strikes and I am outa hear, lost to much money in three programs that got taken down. first with wellspring Blake Prater, then sharedporfit. and now pips..
I guess I just don't have the luck or money to continue with investing online.
its seems that you can't trust anyone anymore. and the governments never give you back the money you invested so that puts me down more money then I could afford. Hard lesson to learn but I learned it.
4 faith and others....I appreciate your approach. A lot of this doesn't add up....what is considered "laundered" (time and amounts). And I agree completely, if Bryan and Sharon were looking to run, why didn't they run earlier with the money? If Malaysia just took their travel papers, they sure had the opportunity to leave ie...taking money from P**S or 10 by 5 or whatever he had going.
The gov't is also only looking at $7 million.....seems like there should be a lot more money with 100,000 investors like the article claims.....
I may be naive, but it just doesn't make sense. I actually have a sense of relief as I look towards the trial.
Let's see what happens....in the meantime, I still consider myself part of the "all clueless team" lol
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Sad news
Charged with Money Laundering - theStar 31-08-06
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