Thread: PICPAY/PIPS Rumours

I think all the investors are deserved the right to hear something officially from the board of PICPAY/PIPS. Thus, can anyone from PICPAY clarify the rumours I heard about the corruption, investigation and collapse of PICPAY and PIPS? Thank you very much. :?

Guess we'll hear when the servers are back up.

From Irishbilly (PIPS pioneer): DO NOT BROADLY SEND THIS AROUND, just to your friends.



I wanted to get this out to you quickly because so much
speculation and misinformation tends to keep floating around regarding PIPS in it's current state.

Some information says that Bryan and Sharon have been arrested and is totally negative,, while others were putting out information that they though PIPS would be back online and operating early this week... and have a new payment platform ready to start
and hundreds of millions of dollars that they are about to have released to them to get members paid... WRONG WRONG WRONG... people on both ends of
the extreme tend to be just that..... EXTREME... I just wanted to give everyone a brief update.. and then again we hope for the best..plan for the alternative.. and move forward knowing that if Bryan manages to pull PIPS forward in one way, shape or form, it will still be in our group of programs.. but we will have enhanced it with diversification and if the worst happens.. we are moving forward and it becomes more of a disappointing annoyance rather than a devastating blow.

Anyway..rather than saying that I have it from a knowledgeable source... I will start with this .....Bryan Marsden called me last night. Yes that is right and it was a surprise..but I got to speak with him for a while.

We had a reasonably good conversation and he gave me an update on where everything stands and wanted members to know that he is working diligently this week to see what he can do to get things done to preserve
what can be preserved and see if he can get a structuring approved by Bank Negara so that the enterprise can move forward in an altered form with
the permission of Bank Negara.

As I said. the conversation was a bit generalized but I
anticipate being able to speak with Bryan again this week to follow up and try to keep informed on what is going on. This email will be general and later this
evening I will try to give a bit more specific information but that information will need to be private and will therefore only be able to be placed in the members area of the BreakThroughs site. However this email
and other follow ups WILL be enough to keep you pretty much up to date on what I learn from Bryan if he continues contact with me.

OK.. General update... Again.. to be simple about it.. it is
that my updates of the 18th and 19th ( actually both the 18th I think) were on the mark and a good summary of what the current status is. Here are some other Facts as Bryan stated them

1. He has not been arrested . When I asked if he had been arrested. he said "Well I bloody well couldn't be calling you right now if I had"

2. The servers have been taken...and PIPS and PicPay and PIPS AID are all down... Negara wants to go through the records on the servers to see if there in fact have been any violations or anything to validate
claims made in Letters to Bank Negara. Bryan was looking to meet with them today and throughout the week to show cooperation with the investigation and also to see if the servers could be put back online
during any investigation so that other areas of the business will not be negatively impacted as PicPay and PIPS would be thoroughly gone through.

No new members taken and those areas staying down while Bryan could work with Bank Negara to answer questions .. make sure they fully understand it and then explore the restructuring that he would like to propose to see if it could meet approval.

3. Some people were reporting that PIPS would be back online this week I asked Bryan and he said that is highly unlikely. He would hope he got get them to put servers back online this week but he will not venture what the odds would be and said that we can't count on it.

4. He was terribly upset at the prospect that after speaking with me..the next thing he had to do was meet with the staff and furlough them until further notice. We talked a bit about the various divisions and I asked him about the restaurant development and real estate purchases etc about funds frozen with processors and banks etc and in general terms that is
still a problem and as he saw it was still the primary problem that exists that hampered getting payments to members. I also addressed the PicPay and merchant problems that had caused some of this action and how
just more communication could have possibly prevented a good amount of this.. but that was more conversational rather than a "tongue lashing" of any sort.

I would like to see something salvaged of this so a
restructured business could continue and provide benefit to the members.

5. Bryan hopes that in meeting with Bank Negara and answering questions and educating them as to all the details of how funds were spent/invested, the problems and challenges faced, the viable and profitable divisions
that have been built and how everything at present could be restructured to satisfy the issues and solve the problems that had been plaguing PIPS that and do it all with the approval of Bank Negara. However there is no
telling at this point what will happen.

It is in Bank Negara's hands right now.. Bryan said it could take weeks.. it could take months depending on how meetings go with them and what they decide is their posture on what they desire the outcome to be.

So don't look for any quick solutions.. don't believe that
there is a payment platform ready to go .. with funds soon to be released.. ( Bryan said that he doesn't know where that information or any of those figures are coming from and that it is total misinformation)..

Bryan said that all that can really be said is that things are in Bank Negara's hands right now and he is working diligently to resolve the issues.. get the servers back online even if only to serve the related businesses so that they their records and operating systems and that he will do everything in his power to work see if the enterprise can be preserved.

It is my opinion that if a restructuring, compliant with Bank Negara and requiring no further funding from members could be put in place, and that Bryan is convinced he can do it.. under the supervision of Bank Negara I would like to see him get a shot at it. As we know, that would probably require the assistance of consultants, possibly new management, etc.. all
things put in place to ensure compliance etc. Actually it is possible that if members were to dash of a quick note to Bank Negara in support of some bank supervised restructuring in the interest of members recovering
losses and and having some ongoing enterprise that is
transparent and compliant and can be structured to the benefit of all involved, perhaps there is positive that could come from all this. Those who had real problems got to write Bank Negara and rightfully so. but perhaps those who support restructure should have voices heard with them too. Always good to get both sides right?

I will see if I can provide the appropriate information later this evening in the members area or more likely the FORUM of BreakThroughs later this evening. Please don't write me and ask me for it as I have been receiving hundreds and hundreds of emails lately and
cannot respond to any request if you do make one..

Now remember.. even if you choose to dash something off in support of restructure or read this and get concerned.. do it and then GET OFF IT and move to productive things.. IT IS WHAT IT IS and we have
to continue to diversify...

Thanks again.

Bill

Sorry, but that is not an actual situation.
I think its post from the 19 th of August.
Now the month is nearly finisched, and i think a lot of things are passed yet.

Why will B not simply give a short update to all.

Always waiting , nearly 8 month's and reading this post again ,I think this year the site's are not coming up. The bank is not in hurry it seems.

I hope I wrong.

regards

I am asking people to be patience but what else if not being patience. No news is still a good news. Stay calm.

Jet

I think we have to disregard Billy's updates. That means ignore them!

Why? Because for quite some time now, Billy has been negative about PIPS. Billy has "befriended" Bryan's enemies, how many of them is unknown. By his own word in his updates Billy takes Warren's and Gary's word over that of Bryan.

Warren has done everything in his power, and in my belief is still doing everything within his power (as the last I heard he was headed back to Maylasia) to take Bryan and PIPS down.

Billy's updates were filled with speculation (his and Bryan's enemies) and imo propaganda.

IMO if Bryan did infact call Billy, he did so to say, give the FACTS. That's what one of Billy's updates said that Bryan told him it seemed several times Bryan said, give the FACTS! I personally took that to mean, STOP speculating, stop feeding the negative rumours and, just give the information without your (Billy's and Bryan's enemies) negative spin/interpretation on the situation.

Sadly, it seems people are so willing to think they need news so badly, that they will believe anything even those that don't care one thing about the members. My advice, don't believe just anyone!

After the bank took the computers, Topwinner gave Bryan's update in AusPIPS forum. We've all read it somewhere, I don't have a handy copy of it or I would post it here.
The word from Bryan was that he is working with the Bank and to relax and thanking members for their support!

Prior to that Bryan posted in the old forum. "The rest of the year might be bumpy, but EVERYTHING WILL BE OK!" (maybe not word for word, but close.)

With all that is going on, the choice is clear, if we value our accounts, then we support Bryan. Otherwise we lose imo. There are too many that we might think are supporters of PIPS, yet their actions show otherwise. If we should take anyone's advice it would be Bryan's. It is his company, he is the one that is working with the bank to restructure, and continue for all of us members.

The "complainers" are out for themselves and whatever they can put in their pocket. So why would we listen or believe any of them, they don't have "our" best interest at heart! imo

It may be that Bryan can't give any update at the moment, given those that want to destroy anything that Bryan has worked for, so, we as members should look out for ourselves and thereby also Bryan, and try to understand the "no update from Bryan" situation at this time. Hopefully Bryan will have worked out some of the sites coming up soon, and I would think that would be somewhat of an update in inself.

Let's stick together and put ourselves in the win column as Bryan imo will work out these problems in the future.

In other words, please don't do anything, write anything, say anything that will destroy "my account," "your account," or anyone else's account.

Thank you in advance!

VP

Hear, hear, VP! :) :) :)

Originally Posted by clementchia

I think all the investors are deserved the right to hear something officially from the board of PICPAY/PIPS. Thus, can anyone from PICPAY clarify the rumours I heard about the corruption, investigation and collapse of PICPAY and PIPS? Thank you very much. :?

yes clementohia!

....isn't it a horrible situation. Bryan ran away with all of our money, but Sherlock Holmes found him this week hiding in the bushes in Africa.
Next week, the Colloseum in Rome will be reopened after nearly 2000 years, and the emperor Owen Platt has decided to throw him to the lions.

All PIPSters will be there to celebrate this great event!....and we will all get our picpay back at the gate before we enter the Colloseum.

I wish you a nice trip to Rome!

hine

:D :D :D VP

Well said.

It sort of makes one wonder why Billy's private email to BTI members is being posted several times in this forum

hmmmmmm.........

Absolutely spot on Velvetpatches

Greg