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The couple were charged under Section 4 (1) of the Anti-Money Laundering Act 2001, which read together with Section 87 (1) of the same act, separately before Session Court judge Mohd Zaki Abd Wahab yesterday.
If convicted, they can be fined not more than RM5mil or a jail term of not more than five years or both.
They claimed trial to all charges.
Mohd Zaki set bail at RM500, 000 in two sureties for both of them separately. He also ordered them to surrender all their travel documents.
He fixed Sept 13 for mention.
What about it? I am suggesting one of us be present at the trial, to give us all, a daily update about the matter. It would be like we were there.
I would be the first to volunteer but I live in Penang which is about 7hrs-8hrs away from there, not a good candidate. So any PIPSters from Seremban itself, KL or Melaka would be the best, about roughly an hour from the latter 2 places. Any volunteers?
I guess thats it for me. I'll turn in for the night. Hope to bring you more photos and news tommorow.
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Interesting such a wide range of emotion on this thread, which is completely understandable. Some view this as the closure they were looking for, and the ever hopeful just seeing this as another delay in PIPS coming back and making their financial dreams come true. We've got the conspiracy theorists, and the 'wait and sees'. Those that think seeing BM and SM in cuffs is great and those that think it's sad. And the ever popular question "Does anyone know if we're getting our investment back?". The answer to that question is no, nobody knows.
My thoughts on the whole thing. I haven't seen this mentioned so far so I thought I'd remind everyone. The money stopped coming out of PIPS and Picpay long before BON ever got involved and started their investigation. That's why BON got involved because people started complaining. My personal opinion is that the money we sent to him was never invested in anything. Some PIPSters found a quicker way of making money by selling their picpay for cash. That further hurt BMs little program because now no new money was coming in. Yet the demand for Picpay payouts were still there and even increasing. That cash was being cut off by the Picpay sellers. Therefore, the few hundred dollars to couple thousand dollar pay outs that kept people believing in this stopped happening.
You can't blame the sellers though. They just wanted to make quick money like the rest of us. They just came up with a more inventive way to do it. But I think it just put a quicker stop to a program that was destined to implode anyway. If this program was on the level like some think it was, the delays would never have happened in the first place. Complaints would never have happened, and we'd all be rich right now. But that's not the case, is it?
I really wanted PIPS to be the real deal, just like everyone else. When things started looking bad, I had a terrible feeling it was all over, yet deep inside I hoped for the best. I'd check forums everyday looking for any kind of update. Eventually I just started forgetting about it. Only to poke my head in when I got an email from Marik saying BM posted something. When I came in to read the posts hopeful something positive happened with PIPS, what did I find? BM asking for more of my money with another lotto program. I wasn't biting. Came back some time later to find out BM decieved everyone by posing as someone else with, of course, another program asking for money. Three times BM tried to get money from us, and three times it failed. Anyone see a trend? The thing I find most disturbing about this is that BM knows people were hurting from losses in PIPS, and yet he continued to try and get even more money with these new programs. After that he'd yell at members and people that supported him the most because of his own failures. Like this is all OUR fault.
All I can say is god bless all of you that still hold out hope. Hope is a beautiful thing. Personally, I see those pictures of BM and I'm looking at a crook. A man that started believing his own lies. I perfectly understand innocent untill proven guilty, but I think BMs record speaks for itself. The money stopped flowing long before the investigation. If the money was there that he claimed was there, that would never have been an issue. He decieved us all.
What is written in that newspaper is only to fool the public. But the problem is that people believe everything the media reports.
For example, have any of you run the numbers? 7 million US$ and then 100k investors as written by the newspaper. That would mean that on average every investor only spent $70 *lol* If we take the real membership base of 200k+ members then it's even only $35 per investor. As the minimum investment was ~$450 the $7mill figure doesn't fit really, does it?
Illegal deposit taking... lol And who will charge BNM for stealing money which legally belongs to us?
There is so much behind the scenes which is the real truth guys and which involves the ex-employees Gary Nichol, Warren Webb, Mark McKlusky, Keith and maybe some more who had conducted some things which weren't very kosher, hided their traces and shifted blame on BM.
What is in the newspapers is not even 1% of the truth and most likely the public will never learn.
BNM has sacked in all funds and will conveniently tell the public and all investors that everything was a scam, money never was invested and thus no money left bla bla, the usual crappola while at the same time burrying the fact they ever seized anything... and all those lemmings here will of course believe them instead BM and will never question where their money really has gone.
When will you guys finally stop believing any governmental institution on this planet?? When will you get rid of your authority syndrome and start to think with your own brain?
Illegal deposit taking... lol And who will charge BNM for stealing money which legally belongs to us?
Sadly, the reality is that us putting money in was illegal......BM did not have the necessary licenses etc to enable him to run this program.
I suspect nothing "legally belongs to us" any more. I suspect it is perfectly legal for the assets to be seized and kept, because they were illegally put in in the first place.
Maybe not morally right, but legal. This is why I believe no-one will ever see a penny from this.
I would like to know if the $1000.00 of my savings that I sent in to the woman who was collecting money for that additional private fund some of us were paying into. I cant even remember the name of her group, something like Synergistics. Anyone remember that? That went into a black hole.
DBR Synergistics had a pool and I invested with a guy call Thumper. Haven't received a cent on my investment. Tried to get update on my investment from thumper but got no response from him.
If you invested PicPay, as I did, you didn't put any "real" money into his investment. Anyway his investment pool was to be put into one of PIPS investments that never materialized. Since he never got any profit from this and couldn't exchange the Picpay, why would you think you would get any return?
Nancy
Quote:
Originally Posted by smilfran
DBR Synergistics had a pool and I invested with a guy call Thumper. Haven't received a cent on my investment. Tried to get update on my investment from thumper but got no response from him.
guess what ! if your going to blame anyone for your losses blame the a--hole that sighned you up...ha ha..he's ..(for those of you who gave your money to a friend and sucked you in)..they are to blame and yourself for being such a dumb d--k. while the people who were running around signing everyone and anyone up because they could not get their withdrawls thru (including.in a case i know of..their own granmother...) they are the one's,for many of you, who in fact got your money and they had a hell of a good tim spending it..they would also have been the first one's to say...OH, PIPS WILL COME BACK, DON'T WORRY..to keep the pressure off themselves. a lot of enemys were made becausse of this and i hope the guy that took my money and sucked me in to sign up goes strait to hell along with brian and his etc.
..........
My thoughts on the whole thing. I haven't seen this mentioned so far so I thought I'd remind everyone. The money stopped coming out of PIPS and Picpay long before BON ever got involved and started their investigation. That's why BON got involved because people started complaining. My personal opinion is that the money we sent to him was never invested in anything. Some PIPSters found a quicker way of making money by selling their picpay for cash. That further hurt BMs little program because now no new money was coming in. Yet the demand for Picpay payouts were still there and even increasing. That cash was being cut off by the Picpay sellers. Therefore, the few hundred dollars to couple thousand dollar pay outs that kept people believing in this stopped happening.
You can't blame the sellers though. They just wanted to make quick money like the rest of us. They just came up with a more inventive way to do it. But I think it just put a quicker stop to a program that was destined to implode anyway. If this program was on the level like some think it was, the delays would never have happened in the first place. Complaints would never have happened, and we'd all be rich right now. But that's not the case, is it?
............
I can agree with you on this, Thread Killer.
Long after the payment stopped, someone sold me the PICPAY digital money in exchange for real money to invest. The sellers are also scammers. I got scammed by my friend and it was my fault.
When more people did not get paid, they complained to the authorities. That was when BNM came in to start the investigations. The notion that BNM kept all our money cannot be true. Sure everything cannot add up from what we read from the news papers about the charges. Where is all the money ? Gone long ago before BNM came in to investigate? BNM has no jurisdiction to investigate and account for all the money not in the banks in malaysia.
Can we get our money back? I dont think so. Got to wait until the trials are over and what the judgement will be liked regarding the money that was frozen in malaysia.
I got scammed in others that was frozen by the US authorities and Administrators appointed but I never got any money back from them either because in the end there was not enough left to distribute.
If BM was so smart to convense all these people to give/invest all this money into PIPs, why did he get nabbed if it were a scam? It seams to me if PIPs was a scam, he would have had the intelligence to have squral away some of these funds and been somewhere where he could enjoy them and not be in jail right now.
Even if they had made it impossible to get to the funds, so he couldn't run with them. Wouldn't you think BM knowing they were investigating this deal. He would have had enought time and sense to flee. If it was a scam?
Someone be present at the proceeding.
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