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Thread: My heart sank.

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    GeoSphere wrote
    Back then, few people would think that they were gambling their money, as we were not only led to believe that Pips was a revolution that would eventually change the world economy, but also it would not fail as it was designed by a genius who happened to have a very close relationship with the Malaysian government, anyone who would dare to say that Pips was a gamble or scam would get jumped all over in no time.
    So very true. Even to this day you still get jumped on, even though pips is shut down,seemingly forever.

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    Senior Investor LynnRE's Avatar
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    paddy: In regard to your question as to why someone would "risk" so much money, here's why:

    First, what risk? BM said on his world tour that 1. PicPay was backed by Gold in Australia; 2. The Principal was covered by Insurance; 3. The 2% compounding per day trading was GUARANTEED; and 4. It would take a global melt-down of all the financial markets for PIPS to fail. The word risk or never invest more than you can afford to lose was never uttered in public. Yes, it was in the TOS, but with all the promises and assurances PIPS was a safe investment, oops meant loan, most never read the TOS. Of course after it failed, then this clause was widely touted as why you should not have bet the farm on PIPS. Kind of like opening the barn door to put the horse back in.

  3. #13
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    Talking Bet the farm!

    Quote Originally Posted by LynnRE View Post
    paddy: In regard to your question as to why someone would "risk" so much money, here's why:

    First, what risk? BM said on his world tour that 1. PicPay was backed by Gold in Australia; 2. The Principal was covered by Insurance; 3. The 2% compounding per day trading was GUARANTEED; and 4. It would take a global melt-down of all the financial markets for PIPS to fail. The word risk or never invest more than you can afford to lose was never uttered in public. Yes, it was in the TOS, but with all the promises and assurances PIPS was a safe investment, oops meant loan, most never read the TOS. Of course after it failed, then this clause was widely touted as why you should not have bet the farm on PIPS. Kind of like opening the barn door to put the horse back in.
    It was exactly what we (my family and I were told) anything and everything we had, put it in. The innecessant calls to my mum to convince her of the above mentioned quotes together with statement like "nothing short of the end of the world!" can stop this fella and of course we are protected by our deductions remember? We came in end of DEC 2004, my relative should have known that w/d had slowed drastically but still closed her eyes to it and "sponsored" us. Yes, sponsored. We weren't allowed to join as we are Malaysians but she sponsored us.

    We didn't bet the farm but we did bet what we could. My youngest sister even contributed her meagre hard earned savings were tossed into the pot. I think for a 16yr old, RM600 (approx USD200) means a lot.

    So what do I tell her? Don't invest what you cannot afford to lose? Who put the idea of her making a tidy sum so she can pay for her university fees and have left over to buy a little car to drive?

    I am really looking forward to September. I will be there pen and notepad ready to comeback with the news. If indeed all is lost then we have at least the consolation of justice being served. I hope for a speedy trial and a satisfying verdict.

    Until then, I will drink lots of water and keep healthy. My thanks to all you who have contributed and also for your well wishes and kind words.

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    I had exactly the same feeling, just it was not when talking to BM but to Sharon. Her reaction to my thanking her just gave it all away. It seems that jockstrap was one of the few who was not blinded by future expected returns but picked up on the real underlying 'conman plays it cool' vibe.

    People will try to deflect from your statement by focussing on you instead of BM, that it was all your fault in the end, yada yada yada - don't let them mislead you!

    Thanks for your honest post.



    Quote Originally Posted by Jock Strap View Post
    When I first saw BM in Hawaii, I instantaneously knew that my $39,000 loaned had been lost and likewise the loans of all my friends that I had introduced. I 'read him' like an open book. When I eventually spoke with him, it only made me feel worse and I knew beyond all reasonable doubt that he would get into trouble. In a way I felt sorry for him, since my first similar situation (one of many) in 1959 when I lost £36,000 Sterling in my own electronics development company [a fortune in those days] to a person with a similar type of mind (I shall not use the correct medical terminology) sadly ended up being caught by Interpol in South Africa.
    I am sure that BM in his own mind started out with good intent but as all people do, with a similar problem of the mind, it always goes wrong.
    Yes, we should feel very angry but some people just cannot help the way their minds work and therefore, we should, at the same time pity him (SM was just being led by her husband).
    I do not think any body has posted such a post before from two points of view.

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    Member GeoSphere's Avatar
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    Hi Bat, did your relative bet everything she got on Pips? has she ever apologized to your family? I guess things wouldn't be so bad for your family if your relative had sponsored you in Pips using her own money, that way you would only lose a dream.

    BM will be singing "The End Of The World" in jail if he can't explain his way out of this mess.

    Take care

    Quote Originally Posted by thebat$ View Post
    It was exactly what we (my family and I were told) anything and everything we had, put it in. The innecessant calls to my mum to convince her of the above mentioned quotes together with statement like "nothing short of the end of the world!" can stop this fella and of course we are protected by our deductions remember? We came in end of DEC 2004, my relative should have known that w/d had slowed drastically but still closed her eyes to it and "sponsored" us. Yes, sponsored. We weren't allowed to join as we are Malaysians but she sponsored us.

    We didn't bet the farm but we did bet what we could. My youngest sister even contributed her meagre hard earned savings were tossed into the pot. I think for a 16yr old, RM600 (approx USD200) means a lot.

    So what do I tell her? Don't invest what you cannot afford to lose? Who put the idea of her making a tidy sum so she can pay for her university fees and have left over to buy a little car to drive?

    I am really looking forward to September. I will be there pen and notepad ready to comeback with the news. If indeed all is lost then we have at least the consolation of justice being served. I hope for a speedy trial and a satisfying verdict.

    Until then, I will drink lots of water and keep healthy. My thanks to all you who have contributed and also for your well wishes and kind words.

    theBat$ - You can bet I'll be there.

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    Talking She didn't pay a cent!

    Quote Originally Posted by GeoSphere View Post
    Hi Bat, did your relative bet everything she got on Pips? has she ever apologized to your family? I guess things wouldn't be so bad for your family if your relative had sponsored you in Pips using her own money, that way you would only lose a dream.

    BM will be singing "The End Of The World" in jail if he can't explain his way out of this mess.

    Take care
    She asked us to use her name as a "sponsor" NOT sponsored us with money. She had the nerve to call us stupid and used the often quoted line on us.
    Can you say "Don't invest wht you cannot blah...blah.."

    She had even gone to the extent of "gurantee" our investment should anything happen. But when it went down we didn't find out from her.

    "Fool me once, shame on you... fool me twice or in this case (BM's Cycler) shame on me."

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    Thanks for your reply, Bat, well, I think sometimes I can't express myself very clear in English

    Well, I do understand she didn't sponsor your family with any money, but what I wanted to ask was that since she asked your family to put everything on Pips, but did she do the same thing herself? well, judging from your reply, I guess she didn't.

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    Default Too bad for her too

    Quote Originally Posted by GeoSphere View Post
    Thanks for your reply, Bat, well, I think sometimes I can't express myself very clear in English

    Well, I do understand she didn't sponsor your family with any money, but what I wanted to ask was that since she asked your family to put everything on Pips, but did she do the same thing herself? well, judging from your reply, I guess she didn't.
    She did, she lost USD100k I think. Life savings. She also convince alot of ppl (relatives and friends) to join.

    I think she is in hiding or living in fear.

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    Wow! that's scary...I wonder how many similar stories have never been told in public.

    I myself had a close call, as I introduced my Dad and some close friends into Pips, luckily, I insisted that they tried the minimum entry fee to test the water first, sometimes it send chill down my spine to think that if I have gotten my guard totally down and gone too overboard about it, I would have already been chopped up into pieces, minced, steamed and soysauced by now....

    anyway, I have learned my lesson.

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    I don't believe you people believe this "Jock Strap" person.
    Lynn and his friends took it hook, line and sinker.
    His first post saying that he knew his money was lost. Please.

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