Plexpay. What we should be hearing from Management.
From Norway:
I feel the Lottery decision is good news compared to the initial allegations that the Police made back in September of 2005. Now the lottery commission is alleging that Plexpay was engaged in pyramid selling. Which it was clearly not.
As you know Plexpay was $800 to join.
For that you received, a product package comprised of a,
Banking solution from LoyalBank,
Priority Pass Travel membership,
Full back office accounting facility.
Access to the GPS fund.
Private share issue.
(did I miss anything)
I used the LoyalBank facility and the travel and it was excellent value.
I still have my Travel membership and use it to save money and gain many privileges when travelling.
Plexpay had a definite product package that in my opinion had value.
Plexpay paid commissions on the sales of that product package.
So how can the lotteries commission allegation of Plexpay being a pyramid be proved?
Remember that it is Frode and Plexpay management that have been accused and not GPS.
GPS was totally separate from Plexpay.
GPS did not pay any commissions.
GPS participation, was totally was up to the individual.
GPS however, did propose but not guarantee to pay high returns on monies loaned to GPS.
But not so high that is was impossible to get those sorts of returns in the real world.
The thing is the traders that GPS were about to start trading with have averaged better then 2.% returns over the last year. There are trading figures available to prove it.
Better than 2% returns just with the traders and that’s not including any other investments or profits that could be added into the loan returns pot.
So now the Police case has appears to have not been proven and the initial charge of fraud and other nasty charges now have no case to answer. What is left is that the police are now trying to get members to press charges using what amounts almost to blackmail of members if they press charges maybe may be not getting some of their money back. How pathetic that is.
Now it appears there is just left the much lessor case of the lotteries commission alleging that Plexpay engaged in pyramid selling activities.
If that’s all there is left after a whole year of effort by authorities that’s possibly
a good out come as I expect Plexpay should be able to over turn the pyramid selling
Allegations.
All that’s left after that of course is that the management has decide what to next.
Refund or continue or do a deal or join venture with someone to get members the best possible outcome ?
Not one member that I have talked with has any confidence in the current management especially when it appears they disowned Frode when he was taking the fall for management and they disowned the members shortly there after.
Management certainly has a big job in front of them to sort out the who gets what and when.
