Thread: Can't BNM at least tell us how much PIPS was worth?

If PIPS just had 100,000 accounts @USD$600.00 (or thereabouts) each = USD$60 million at least. But I am sure some people put in $1,000s of dollars, so the value must be over $100 million.

It would be nice if the Malaysian authorities told us how much monies was set aside and how many accounts there were! This would provide us with at least some idea of monies left over and some hope ...

What about the $100 million insurance that was supposed to "guarantee" all this? This was mentioned at several meetings by Mr.Marsden himself.

Interesting.

Surely former employees of PIPS would know the name of the insurance company so that we can check it out?

Originally Posted by Carlton Lewis

What about the $100 million insurance that was supposed to "guarantee" all this? This was mentioned at several meetings by Mr.Marsden himself.

...are you referring to the Alianz insurance health card, which Bryan showed at the conventions, which was his personal insurance card? All residents in Malaysia have to have health insurance and this was Bryan's idea to provide something similar to the members of PIPS. Long range plans for PIPS members....In the furture...is this what you are referring to ??

In Las Vegas, there was mention of the Alianz being used to underwrite the 5yp, but they couldn't get a proper arrangement for the program, so it didn't go through.

Is this the information you are speaking about ??

There is not a way to insure the 2% INVESTMENT PROGRAM, stocks and bonds are not insured...

My understanding was that the money was covered by gold in an Australian Bank. Course that was what we were told at one point... nothing points to that now.

Speaking at a meeting on the Australian Gold Coast, Mr. Marsden stated that there was a $100 million indemnity policy in force for depositors and also that the asset base of the company was in excess of $700 million. You can hear these statements on a video that was made " An Evening with Bryan Marsden."

I hope so. But where is the proof?

And once logged into the PIPS site, it said it was worth $3 billion.

We wonder if they were trading the FX and Futures 10:1 - therefore $70 million in the account could be construed as $700 million???

Originally Posted by Carlton Lewis

Speaking at a meeting on the Australian Gold Coast, Mr. Marsden stated that there was a $100 million indemnity policy in force for depositors and also that the asset base of the company was in excess of $700 million. You can hear these statements on a video that was made " An Evening with Bryan Marsden."

Aye, there's the rub. No proof, only words from BM.

Interesting question,

Proof...................yes, wouldn't it be nice to see the proof, but all we have is speculation. This was true right from the start, there was never any proof of anything, so until the truth comes out, sorry, guess we will have to be patient. LOL

Good luck to all, Mike

Originally Posted by surfer1

If PIPS just had 100,000 accounts @USD$600.00 (or thereabouts) each = USD$60 million at least. But I am sure some people put in $1,000s of dollars, so the value must be over $100 million.

It would be nice if the Malaysian authorities told us how much monies was set aside and how many accounts there were! This would provide us with at least some idea of monies left over and some hope ...

All that money was used to pay off the pioneers!