Ditto, Luckydog!Originally Posted by luckydog
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17-09-2005, 08:08 PM #11
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17-09-2005, 08:12 PM #12
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Originally Posted by weathernut
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17-09-2005, 09:11 PM #13Originally Posted by luckydog
him with the same message...:):)
"They" are so funny....:):):)
Largo
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17-09-2005, 09:21 PM #14
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Originally Posted by ROLmania
Wow ROLmania!....
IF picpay is set up and registered and operating under the law of a "local bank or financial institution", Bryan definately need more than a lot of prayers from the membership. Knowing and experiencing myself a huge flaw in PIPS backoffice without any trace of my USD 30,000 investment in 2004, I have my doubts that picpay has their books in good and acceptable order to satisfy the Central Banks requirements!
With 5ytp fresh in in my memory, we all know how fast Bryan was moving without a solid and professional foundation, unfortunately!...and that list of missing links goes on and on!...
I fear that the advisors and consultants DID uncover some fundamental flaws in the way the PIPS organisation was set up and structured!...
When a member logged in to the PIPS web-site, I noticed a paragraph specifying that PIPS utilized a proper "risk management system", and to me I was convinced that nobody in PIPS were able to explain what that ment!...
I am also afraid that PIPS did not use Corporate Governance as a guiding principles for structuring and running the corporation!...something I openly critisized Bryan for in the old PIPS forum. The Corp. management was way to thin (GN was a joke, and when he was introduced as a general manager, I published a post joking with him as I thought that the introduction of him was posted by a TG-member), and I am of the opinion that Bryan had too many things too close to his chest. You simply can not run a multibillion dollar operation as a ONE man show. That is against all odds and against the natural laws of sustainable business!....such companies and businesses are doomed to fail!
From Bryan's perspective, this was most likely done in his best intention, but that does not help those 10's of thousands of members that most likely lost their investments.
hineLast edited by hine; 17-09-2005 at 09:29 PM.
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17-09-2005, 09:34 PM #15
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Originally Posted by hine
Yes IF Picpay is NOT set up according to these laws and regulations then Bryan could very well be in BIG trouble. And I really doubt that Bryan did set up Picpay properly and it is my belief that this IS the problem and this is what the investigation is all about.
I believe that Bryan has much integrity but integrity does not mean anything when dealing with regulating authorities.
Here is one example that we know was not followed by Picpay.....
".....publish in not less than 2 daily local newspapers approved by the Central Bank of Malaysia, one which shall be in Malay language and the other in English and
exhibit thereafter throughout the year in conspicuous position at every office in Malaysia of the institution, a copy each of its balance sheet.
Apart from the above requirements, every bank and financial institution shall submit to the Central Bank of Malaysia"
So I would imagine that at this time Picpay is being considered illegal and that is why Bryan is being investigated for recieving desposits illegally.
Hine sorry to hear about your investment.... I do truly hope that you can get the majority of that back..... take care...Last edited by ROLmania; 17-09-2005 at 09:43 PM.
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17-09-2005, 09:40 PM #16
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Thanks ROLmania!....
I agree with your assessment of the picpay situation!...provided that picpay is considered a bank or financial institution!
My investment strategies has always been fairly conservative and i did advise all members on PIPS forum to follow the same strategy. Make sure you recover your investment as soon as possible (first 50 days), and then play with the surplus funds. I did that, and recovered my initial investment during the first 50 days!...
hine
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17-09-2005, 09:44 PM #17
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Originally Posted by hine
Good deal hine! Glad to hear that.....:)
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17-09-2005, 09:47 PM #18
If all this sssssssssssssss**ttttttttttttt is true...
Why have they not arrested BM and through away the key...
Regarding LOSING YOUR MONEY...maybe there is a possibility that
SOME GUYS have put them in their own pockets...when BM was on
his WORLD TOUR...I know "SOME" of you now will emediatly reply
That BM is the responsible for the whole of PIPS-WORLD...but that
doesn't CHANGE the fact that the GENERAL MANAGER was running
the whole operations at the time when BM WAS AWAY...at the
time when the SERVERS CRASHED an at the time WHEN A
CABLE BURN...Maybe the investigation is about this...
Just MY OWN Thoughts
Largo
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17-09-2005, 09:50 PM #19
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Originally Posted by Largo
Well if all this.... well I wont go there. If you are right then why havent they arrested Gary Nichol then? I mean come on it works both ways dont it? From what I understand is that Bryan WAS arrested but out on bail. But who knows what the truth is?
All I know is that the Malaysian laws do not lie and it is clear to me that Picpay did not follow them. And as I stated I would imagine that the regulators are considering Picpay a "financial institution"....Last edited by ROLmania; 17-09-2005 at 09:52 PM.
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17-09-2005, 09:57 PM #20
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Originally Posted by Largo
"it is not a fact, unless I said so"!....
To answer your question!...why is Bryan not arrested?....My guess is that as long as there is an investigation taking place, nobody has been charged or procecuted!
I hope that Bryan is clean, if not...we can only speculate!
hineLast edited by hine; 17-09-2005 at 10:00 PM.
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