Received this from my Malaysian contact:

Send : (8/16/05 2:59 pm)
This morning, the Central Bank of Malaysia, Bank Negara, raided the offices of PIPS Inc., the suspected fraudulent investment scheme. They confiscated all the mobile phones plus equipment.
Gary Nichol, the former general manager who resigned recently, has agreed to come back to assist the authorities in their investigation.

Edit: Thank you and so far, this bit of information answers to the Thread's question by its own default. No further speculation needed from here, will lock it. MOD - YB.