Thread: Unconfirmed Rumour

Originally Posted by allstargold

Hi

This, as is typical of PIPS, is an unconfirmed rumour that was passed on to me by a very senior support person.

Firstly the messages supposedly from gary and Warren are bogus. YES they have resigned but for personal/medical reasons.

Secondly, the reason why picpay is in such a bad situation with withdrawals is that the amount of fraudulent funds in the accounts is almost untraceable. This in itself has been stopping most transfer requests.

Now what Bryan is going to do is to start a seperate payment processing company and all NEW Loan roll over payments will go into there for immediate withdrawal. Picpay will cease to exists after some time and any surplus of funds will go to charity. This has had to occur due to the fraud of certain members.

So some bad news wrapped into some good. At least withdraw requests will start to move again.

Aparently, they are expecting this to become public knowledge in the next 7 days or so.

If what you say is true, then this action is highly illegal. Not all funds in PicPay is fraudulant. Surely they can figure out if an account has used the spend/transfer function? If not and the only source of funds are Credit Card or Wire Transfer, how can they be fraudulant. What PicPay is planning to do is outright theft.

and who's responsible for allowing fraudulant funds into picpay in the first place?
great first post allstargold.
:x

sorry guys, I dont agree with the decision either i'm just passing info along. I stand to lose a bunch of money. But if i cant get it out it doens me no good anyway. So if they brought in a new payment service and I could start getting ROL out that would at least be something.

Please try not to shoot the messenger.

thanks for the info

but not everyone has fraudalent funds, i for one have a picpay account that is only funds from my pips account and i am sure there are many other pipsters who have this as well, we have never traded etc and they are going to vanquish our picpay into thin air,

someone has to rethink this

I have a lot of money in withdrawals, pure ROL, will be sad, but if that means that withdrawals will start like a clock, then i would not mind at all.
Regards

"all NEW Loan roll over payments"

what does that mean?
:? :? :?

This could cause many people to cancel withdrawls I hope that my true rol is safe. I don't plan on following this rumor or speculation. I have waited almost a year and have started 3 withdrawls in the last 4 months. I would be very dissappointed if I lost it all.

This sounds like a ploy on pips part to stop members WD'ing in droves. Careful who you listen to.

Yes, I agree also. IF this info is authentic, there will have to be a very large re-think regarding fraudulent PicPay. For sure it will be difficult to seperate the good from the bad and even then there is going to some angry members.

As for it being a ploy to stop a "run on the bank" effect with withdrawals........IF Bryan puts in place a maximum monthly withdrawal limit for a while, this should prevent that. Remember, you're not going to please everybody.

robonz.....Good suggestion.

Hi.

If you people are so Nervous about your Money in Picpay.

Then it is time to follow Bryan and think outside the Box.

Why not Cancel 50% of your WD'S, AND put it back into your P--Ps Account. Use it and get more Units.

That way you've placed an Each Way Bet.

When the New Payment Platform opens up, use that 50% as your Initial WD.

Can't Beat a $1.00 Each Way.

Then again, I guess you will have Doubled your Worries.

Woth thinking about.