Thread: Where are the EXCHANGERS???!!!

Baileytwo - I would say that it is highly unlikely that any of the exchangers were licensed. Any reputable financial advisor would have runa a mile from a setup like Pips. I would suggest that you contact the authorities in Minnesota with the details - it's a long shot, but you might just be able to recover something.
Unfortunately, I'm not in touch with anyone in Minn., but Nebraska are actively pursuing such people.

“In this life, one thing counts.............................









today my triveks simulator says $464,800

Just numbers on a screen


Wish it were true though

Originally Posted by balieytwo

These exchangers at least the one we dealt with in 2005 was telling us how great PIPS was in 2005, after the program already folded. We have figured out this person in Minn. exchanged about $90,000 from our group and when confronted he called us those supposed christians. It is simple, he took our hard earned cash for nothing in return. He has our cash and we have nothing but receipts and wire transfers paperwork. He certainly did not earn the 90,000+ in cash he took in. I wonder if these people have a license for trading?

Unfortunately, unless you do your ownd due diligence you can be taken
completely, checking on the status of the program should have been
a priority for you before loaning the money technically you asked him
to set up an account for you for your money (which I am assuming he
did) if he did not set up an account than you have recourse.
Also, if he did not hae a trading license which I doubt, that also
may be another avenue for you.

WAKE UP !!!

"EXCHANGERS"????? just because "you put a name that sounds like a broker doesn't mean these people that did what you asked for are now at fault for your losses. Grow up!

You ask a friend or acquaintance to save you time and money by setting an account up so you can get in on the possible gain... and most people who did this for you did so in good faith.
If you did not investigate before you invested don't blame the ones who helped you get into pips.
Grow up and be responsible.
I had people ask me if I would guarantee their profit and I said no... I have no guarantee on my investments. They were so anxious to get in they did and I had some offered to invest 10-20 thousand more after they already had 10-20K in an account and after a long delay in withdrawals I was saying wait for bank set up in Cambodia. These people are responsible and know that I had nothing to do with stopping pips and know it was their decision to lend money to pips... and say (and rightfully so) that's what investments are, "RISKS FOR potential GAIN".

Just because "you" made a bad choice (in your mind) "you" are responsible and you chose the action so quit acting like spoiled children and blaming others for "your" choice.

I was investigated in Canada while pips was still on line and the "fraud squad" investigator acting for a new pips member told me, all looked fine on line and were not interested in my actions. He added just do my own investing and don't invite others and I said I didn't invite them they asked me what I was involved in and I told them and they went on line to check it out and to save a few percent, on transactions, asked me to use my picpay funds to save them time and money so I did on their request. He said oh... that is not the story the lender gave but he believes me and there is nothing illegal about this activity but to save myself grief from "immature investors" I should tell them to do it on their own.

I even told people after that about these events and they still whine as if it was me holding a gun to their head.

best to all pipsters and this will all be fine on return of new pips! :)

Originally Posted by pips believer

WAKE UP !!!

"EXCHANGERS"????? just because "you put a name that sounds like a broker doesn't mean these people that did what you asked for are now at fault for your losses. Grow up!

You ask a friend or acquaintance to save you time and money by setting an account up so you can get in on the possible gain... and most people who did this for you did so in good faith.
If you did not investigate before you invested don't blame the ones who helped you get into pips.
Grow up and be responsible.
I had people ask me if I would guarantee their profit and I said no... I have no guarantee on my investments. They were so anxious to get in they did and I had some offered to invest 10-20 thousand more after they already had 10-20K in an account and after a long delay in withdrawals I was saying wait for bank set up in Cambodia. These people are responsible and know that I had nothing to do with stopping pips and know it was their decision to lend money to pips... and say (and rightfully so) that's what investments are, "RISKS FOR potential GAIN".

Just because "you" made a bad choice (in your mind) "you" are responsible and you chose the action so quit acting like spoiled children and blaming others for "your" choice.

I was investigated in Canada while pips was still on line and the "fraud squad" investigator acting for a new pips member told me, all looked fine on line and were not interested in my actions. He added just do my own investing and don't invite others and I said I didn't invite them they asked me what I was involved in and I told them and they went on line to check it out and to save a few percent, on transactions, asked me to use my picpay funds to save them time and money so I did on their request. He said oh... that is not the story the lender gave but he believes me and there is nothing illegal about this activity but to save myself grief from "immature investors" I should tell them to do it on their own.

I even told people after that about these events and they still whine as if it was me holding a gun to their head.

best to all pipsters and this will all be fine on return of new pips! :)

Russ. . . . Let me ask you a question, & just for the record I'm NOT trying to start anything! Since you did make money from PiPs by exchanging money for folks do you feel a shred of guilt?? I know I would. I'm just trying to get a honest prospective from an exchanger. Your post seemed deffensive thats why I asked.


-Alan

I was investigated in Canada while pips was still on line and the "fraud squad" investigator acting for a new pips member told me, all looked fine on line and were not interested in my actions. He added just do my own investing and don't invite others and I said I didn't invite them they asked me what I was involved in and I told them and they went on line to check it out and to save a few percent, on transactions, asked me to use my picpay funds to save them time and money so I did on their request.

This sounds a little strange to me. You were investigated but they didn't even check to see if PIPs was licensed?

And he said

He said oh... that is not the story the lender gave but he believes me and there is nothing illegal about this activity but to save myself grief from "immature investors" I should tell them to do it on their own.

and he said he "believes you". Doesn't sound like an investigator to me. IMO investing on behalf of someone else IS promoting and in Canada that is illegal.

to ox1216 I did an exchange for a man / friend who has worked for me on a few occassions . I tried to get him to wait until Pips started paying again etc. He had gone to Gary Westoby (the original "jolly pipster" )& talked to him about things & decided to go ahead . He didn't have a credit card he could use & didn't want to send a money order or wire transfer . so I finally agreed to take out of my account & open one for him . I opened my account with min. & recieved that plus an extra $50 back from him to open it . If I had the extra $ & he wanted something back I would try to give it back to him . but he has told me a few months ago not to worry about anything . If you figured out the credit card charges I originally paid I was still a few $ short of breaking even but It was a learning experience for me & my friend .

Quote:
"the "fraud squad" investigator acting for a new pips member told me, all looked fine on line"
I hope he's not still an investigator if he thought it looked fine on line!

Sounds like absolutely no remorse from the exchanger. He got into a fraudulent scheme, then offered to get others in for cash.....guilty. Pay it back if you have any character.
Scenario:MoneyDuck gets in for $450. Then, when things slow down, he decides to try to get some money out of the deal, by transferring his fake money into a new account, with a 10% commission for someone. Then when someone would like their moneyback, because he profitted from a fraudulent program, he refuses.
I agree, my decision to get into PIPS was a mistake, but why should I, and not moneyduck pay the price. He made money on this fraud.
I will now check with my state to hunt down the moneyduck. Remember, I tried to do this the easy way sir.