Hello

Several members have contacted Rolclub and shown interest in hiring a lawyer on behalf of pips members and represent the pips members that invested in pips from outside of Malaysia..

Frankly, i wouldn't have a clue on even where to start if something like that was to be done, or if it's even worth trying.. I would need the members input on how you think this could be done at first. And perhaps if there is enough interest, we would consider hiring a lawyer to represent all members that show interest.

Please keep the "Marsden bashing out of this thread, and please come with constructive comments on how/if anything like this can be done". Some say there is no money left. Others say there is, but we can not do anything before the trial is over... I let the membership of this forum present their case..

Please also include a line at the end of your comment saying if your interested or not...(if you are, please login to your userCP on Top Left, and keep your email's updated incase we agree on doing something about this case.

Regards
admin

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Well the update mentions that there are frozen assets worth 8 million RM.
That equates to approx 2.4 Million US$

Considering what PIPS should have been worth when it closed , those assets are the preverbial "peanuts".

By the time Lawyers and the court costs have been deducted, there will be little left. So in my opinion it would be a pretty pointless exercise to tray and hire a lawyer.

Any assets left out side of Malaysia are unlikely to be found.

just my opinion

The ongoing process is about money laundering not about Pips, and the people who put money into Pips are not part of this process. If there will ever be a trial about Pips it might be an option to hire a lawyer but not before that.

For now I just say: Let's wait and see.

At this point, a lawyer would cost us more than it will take to send me. I work for FREE! lol plus food and lodging. Seriously. We don't know yet how much lay hidden or spent inside or outside the country. S******d off to another secret account. Surely though no pot of gold, remember "backed by gold" if by gold you mean B.S. he's got plenty of it. Telling us all to be patient and the light at the end of the tunnel crap.

But in case you all want a lawyer, I have 2 choices in mind. It all depends on what is the outcome of the trial and how much we have vs. how much we can take back. US2.4Million (point to us by Picco) isn't amounting to much divided equally among all the PIPS members, that is if we get the sum back clean. Suing a broke BM also isn't logical. So we sit, wait and pray for the right time to move in.

So getting a lawyer to go in at this time will be a waste of funds. Imagine our lawyer turning up for the last 3 trial dates that have been postponed or cancelled. I don't think our fund can cover it and also plus consultation fees etc. $$$$$

I leave it to Admin & Yogi to direct me. I will keep as vigilant as I can.

Cheers.

TheBat$

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For me, it doesn't seem worth it. Certainly not now. Lets wait until the current trials are over. Then we'll know if BM actually has any money let. If he suddenly has hundreds of millions of $ unfrozen by the bank and returned to him, then maybe it's worth it.

Otherwise, it's not... a lawyer would cost a LOT of money and would require serious and committed donations from hundreds of members here. I don't see the point in throwing good money after bad. Especially on lawyers!

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I'm just kidding about throwing things at lawyers! But as you clearly pointed out hundreds of millions is the only thing that would warrant a lawyer or two. Then even if each got back one million, it would be worth it. But does he? He should, I am worth almost 20million now, where is my money!!!! Crazy thing about 2% and dual accounts.

Cheers.

theBat$

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The $8 million is the Mardens personal assets and money I wonder how much salary they drew from the pips account ?

There are other monies but they wont be anywhere near enough to pay withdrawals.

Not worth a lawyer imho.

As the picture that has been formed over the last 2 plus years points towards a ponzi having reached the "point of no more returns" with their owners skimming off the top in January and February of '05 (which will be discussed in detail next March - if that attorney ever shows up), imho it is better to sit and wait at this point in time.

The May trial should focus more on how PIPS actually operated.

I couldnt say it better.