Some abuses, you don't understand how big a problem picpay is or the consequencesOriginally Posted by Wacky
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Thread: Is Picpay Money At Risk?
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16-09-2005, 10:04 PM #11
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16-09-2005, 10:06 PM #12
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Wackster, ya not so wacky!! ;0)
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16-09-2005, 11:58 PM #13
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and why was the money frozen ?
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17-09-2005, 12:07 AM #14
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Originally Posted by Adster
All we can do is stay in the information loop and hope that BM gets the P*ps house in order as soon as possible. We all got involved knowing fully that this may or may not pan out in the end.
In the meantime, I'm diversing into other opportunities too. Nothing gained in our lifetime comes without risk.
Onwards and upwards...
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17-09-2005, 09:55 AM #15
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Totally agree Wacky
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17-09-2005, 10:49 AM #16
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Originally Posted by boatman
Maybe I don't, but I can use my head! Sure thing is that illegalities (or chances of it) and general problems with picpay infects other P*PS businesses as well. I perfectly realise it is bad for our money but that does not mean that there is no solution; just not a quick one.
I for one have never done anything wrong with my money and transaction records are stored on computers where BON can read them from... I just lent dough to someone, there's no valid reason why I can't get my part back!
Bryan is the only authority that can speak about our money's sitauation, he said we will be back... So if anyone wants an answer about our money the answer is the following: It is only a matter of trust. Choose your side!
I don't know everything, but personally I just trust that if BM said we will get our money, we are getting at least our original investment back. That's what ultimately matters.
Now whether it's from picpay, legendary gold reserves, Bryan's own pockets or somewhere else I don't care as long as I someday get it... that's what BM said he will work for.
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17-09-2005, 02:03 PM #17
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Before the current problem took place, PIPS had 3 Billion Dollars including at least 1 Billion Dollars from the members. Where is that money? The bulk of that amount must be somewhere since the funds "frozen" are only in million dollars.
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17-09-2005, 02:47 PM #18
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Offshore-Wealth.com
Originally Posted by hirok
This is what everyone wants to know, but until BN gets done, I would not count on the virtual figures being correct or there would have been backup plans in place, and there would be no reason to grind to a halt over locally frozen funds issue. To think there were no back up servers and data is beyond comprehension for a multi billion dollar operation.
I don't know how BN operates under these kind of investigations, but it sure seems strange that there is no money to operate on and pay employees other than what was frozen in Malaysia, which from all accounts so far is a small amount of the total involved. So one has to ask, where were these so called PPP's located?
We heard of millions being frozen before BN raid, at least that is what consultants reported, yet we don't know where, as in what country. So many blanks, I guess we all just have to wait for BN to make announcement of findings, but it is obvious that closing down business to do an audit is a sure way to put any business out of business, guilty or not. At least that is the game as played in US, innocent or not, they make sure business desolves by strangling slowly until dead. I sure hope Malaysian law is not like US civil law where you are guilty until proven innocent.
Good luck to all, Mike
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17-09-2005, 04:28 PM #19
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It looks like Bryan is very confident that he can honor all payments due to the members. This indicates that Bryan is capable of either restructuring Pips and picpay or strating up an entirely new payment processor and a mew investment program accommodating all of the PIPS members. I personally believe that he is no so stupid to disclose the whereabout of a huge amount of funds he has collected from PIPS members as well as from "trading". PPPs,etc to Bank Negara as well as GN and WW whom he has not trusted in full. In understand Bryan has purchased 200,000 gold bars in Australia to be transferred to Pic Trust Bank to be opened in Cambodia. I am pretty sure that he is keeping a bulk of money somewhere offshores. I am very thankfull that Bryan has not disclosed to Bank Negara people some vital info on the whereabout the PIPS' money. We can not trust "authorities" blindly. We should learn some valuable lesson from the Wealthspringcapital Case where SEC took most of the 6 million dollars which was existing at the time of the raid to cover their "expense" even they failed to find out any serious violation of law with the company and they had to accept "settlement" at the order of the US District Court. Sometime, authorities become crooks.
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17-09-2005, 06:15 PM #20
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i am really trying to be patient and optimistic here, but it is really difficult at this point. i have to put things into perspective as it is now ,first we really dont know anything about what is going on because there is no official communication between members and pips. there are those of course who are claiming that they are in contact with someone from the inside and giving us all sort of conflicting updates and you can choose to beleive, (esspecially if it is something you want to hear),but these bits of information may not be representative of what is going on with pips. i hope all of this is resolved soon because right now i feel like a ***** for having faith in this program.
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