Thread: My call to Central Bank of Malaysia

Excellent posts, ROLmania and Hine!

Here is what doesn't add up to me (from Castle's post about his call to the bank). If Bryan was charged with a crime, then why would the bank say all these things (like the websites not being up, etc) were "up to Mr. Marsden"? I highly doubt if charges have been filed, that Bryan would have much say in anything right now.

Also, if the bank is stating that PIPSrealty and the Children's Bible have had illegal funds put into them, why would they be allowing them to run? It seems they would not allow that until that was sorted out. Just my two cents....

But most of all, I just find it hard to believe staff at the Bank of Negara would give out all this information so readily to just anyone who calls, while an investigation is still in progress.

My thoughts exactly soaringeagle, No one at the bank would be allowed to comment until the investigation was over.

Any CEO in any company or business worth its salt would have employed CORPORATE LAWYERS to ascertain whether they were setting up everything legally. All I see is still a LOT of speculation as in "I would imagine that" and "IF Picpay was set up this way"... and so on and so on ad infinitum.

We can speculate all we like - whether Bryan has been charged or not charged, with what misdemeanor, illegality or whatever - but NO BODY KNOWS for certain exactly what is going on. Educated guesses are all very well but it is pointless as we still have to wait until its over. Bryan is a very clever man and I can't see him (or his legal team) making a mistake of this magnitude in a country where he lives and where he is very much aware of the laws he operates under.

Bryan has always maintained that PIPS does not fit in to any financial, banking, or investment category, and is totally "out of the box" where these are concerned. However in order that it should be able to do this, he HAD to know the laws, regulations, and other steps necessary to comply in all countries he operated in otherwise he would have been in trouble long before now. The problems started in December 04. The new International "Patriot Act" laws came into existence in December 04. This made it more difficult to move money around to thousands of individuals in many different countries. Banks were running scared of huge fines for so-called "money-laundering" imposed by the regulatory authorities also -Malaysia is a muslim country - more alarm bells would have been going off! . Bryan dealt with the US clearing banks as he dealt with the dollar as a currency. Thus began the problem with WDs. We all know they were restricted, cut down, and slowed to a trickle. We all know the difficulties Bryan was trying to deal with. He may have made a few bad business decisions - maybe that is all he is "guilty" of.

Bottom line is, until we know EXACTLY what is being investigated, what they are looking for, what Bryan is involved with each day at the bank, what businesses are being looked at, and so on we cannot know. If anyone calls the bank and asks what's going on with PIPS I am sure any official in the investigations unit is not going to speak to any Tom Dick or Harry that is on the other end of the phone OR go into confidential details about an investigation that is still subjudice. If they have not finished with their investigation how can they come to any conclusions?

Please THINK before you come to the forum with "information" about the investigation. Please understand that a little knowledge is a dangerous thing, and above all, STOP IT!

Yep, not sure about Malaysian law either but in the USA "Usually" the Investigation gets to a certain point and they hand the evidence against someone to the "Grand Jury" and then they are Indicted <<<< (Wrong spelling I know) OR NOT!

They don't arrest someone (Bryan) and then do the Investigation as reported by so many Trolls? I guess we would need to know when they started the Investigation, Could be 6 months ago for all we know! So, maybe he was arrested? Doubt it really as Gary would certainly have been arrested also as one of the "Main" players.

And, the drama continues!!!

Largo and Luckdog, you guys must be ignorant. I never said that the Central Bank of Malaysia was charging Bryan with anything. THEY ARE CONDUCTING AN INVESTIGATION - PERIOD. I asked Mr. Mallik specific questions of things I was told, he answered those questions. I am sure that Mr. Mallik being an employee and officer of the bank would not jeopardize the investigation in anyway. As for PIPS Realty and the Children's Bible, he said they were legal companies but that they were funded from deposits that were collected illegally.

I am not an attorney but my thought would be that Bryan should be proactive. If he erred in establishing PIPS Inc and PICPAY find out what he has to do to correct the situation, pay whatever fines maybe necessary and get this behind us and move on. Don't wait for the Central Bank to investigate. If Bryan made a mistake, work with the authorities and get it corrected, the punishment could be far less severe. If he can show that the mistake was not intentional, the authorities can work with that.

Let's stay positive here, don't keep bashing me because I found information that others may have wanted to know.

Castle

Castle, your input was simply added "spice" thats now just a weebit too much for many to handle anymore...the gravy is getting all too exotic for the tongues of many here willing to **** at any chiller that isn't tasting like one...

However, wait we must all....so calm down your jitters fellas!

Seems that we have the same source for our thoughts ;-)

Originally Posted by Largo

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

Hey

Here is the regulations for payments systems in Malaysia. Now can anyone really interpret this?

Payment Systems Act 2003

http://www.bnm.gov.my/index.php?ch=1...&ac=404&full=1

Originally Posted by ROLmania

Hey

Here is the regulations for payments systems in Malaysia. Now can anyone really interpret this?

Payment Systems Act 2003

http://www.bnm.gov.my/index.php?ch=1...&ac=404&full=1

Hehe...WHICH part of which section you had in mind???? as it is maniacal to further interprete the "entire" link that displays some miles of their Monetary Law as applied in Malaysia.

I concur with welshdragon and others. It would pay to look up just what is a financial institution and what it must be doing to be considered one. Notice that when Bryan offered the 5yrTrustPlan and the 3% investment plan that those where considered selling securities. He withdrew them. Took them down and charged those with pools for it to refund the monies invested via who? Gary. Some of the pools have already returned the owed monies on their own as Gary never seemed to get around to helping the pool holding entities with undoing the member investments.

Also, some of the funds in the 5yrTrust Plan were not returned, but that could have been due to there being so many and time consumptions on the staff because of P*cP*y ongoing verifications process on 180000 accounts. There were many P*cP*y accounts as there were many who signed up just to get money into them for high fee exchanges(in the beginning, they were charging fees for the p*cp*y funds to exchangers).

A financial institution must offer securities, stock or shares for company employees(shares), customers, or allow trading in actual stock markets(as in ETR*DE) and more... The interest paid for loans(and that's what they are no matter what you call them) cannot be considered "selling" securities, stocks, options or any other tradable share on the world market. Loaned funds can also be considered "given funds for exchangable service or value" But what did you buy? There was no product or goods. You bought an intangible substance called "hoping for higher value". YOU WERE ALSO WARNED THAT COMPANY INVESTMENTS MADE (IN THE PLAN TO REPAY YOU) COULD GO SOUR IF THE MARKET WENT INTO AN ADVERSE SITUATION, OR UNFORSEEABLE INCIDENTS OCCURRED.

Nobody invested blindly and everybody saw the agreement plan when they invested. I don't see anybody kicking up even half the dust on any other investment that went sour(fact that they dissappeared or stopped paying and went down). Because BM tried to have humanitarian objectives, he has been expressly picked out to plunder and exploit mercilessly from many sides.

Don't blame the members? Not the innocent parties. But do blame those who by being herded via secretly scheming enemies to P*PS, have trammeled the banks that could have sent out funds to members, and those banks stopped when so many expressed "doubt", "suspicions", and "assumed alleged fraud" by their constant calling and complaining to those banks early in the process. Do blame those who are now trying to bring down PIPS by giving as much harmful information as they can muster(some unprovable claims) to the investigationg bank.

For what? In the hopes that the bank will favor them with their money? For our good? Who asked them to kill the cow that gave the milk anyway? Nah, they are hoping to get THEIR money from the bank as a favor for helping them to crucify the company and CEO.

How can this possibly ruin it for everyone? The BON could decide because of those "claims" that the whole thing is fraud and a ponzi(as the banks are prone to do anyway) and shut it down, sucking up all the remaining funds in legal fees, court costs and "out-of-pocket" expenses which may be incurred on their part. They could "ethically" call an end to investigations, thuse saving themselves valuable time and funds(paying employees to do the investigation). Plus, their actions could put a well intentioned old man in prison, or have him executed along with his wife if she had any part to do with business. Don't forget that this is a MUSLIM country. And muslim laws can be very different from ours.

Do I blame those individuals who have taken it upon themselves to do this and those who have had secret plans all along to hurt the company for their own schemes? YES! In fact, they could be sued later when the company is back up and on its feet by members who have lost income all this time because of their behavior toward the banks envolved with PicPay funds that could have been disbursed to members. Of course, one would need to hire an investigator to hunt them down first.