If all the funds are frozen, apart from money to live in, food, etc, how is he paying for his staff and more to the point the legal side of things?
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If all the funds are frozen, apart from money to live in, food, etc, how is he paying for his staff and more to the point the legal side of things?
His staff is not paid at the moment apparently.
As for paying for the legal costs, some of what is frozen in PIPS bank accounts will pay for his lawyers eventualy i guess.
Agreed from his personal account but all pips funds have been frozen haven't they? If so then surely sooner or later his lawyers will run out of money and we'll all be out of pocket as it won't/can't be resurrected in any shape or form...
He could be paying his lawyers with his personal money, but i'm not too sure about that..
I'm thinking about suits where the lawyers are paid when its settled and they are paid with the money they got from the other side, maybe its the same thing with the frozen funds when they get unfrozen.
Interesting,
Given the fact there has been no official charges posted by BN, this would lead one to believe they are still on a witch hunt and they will take the course of least resistance, and that is to seize all assets, then drag their feet as long as possible to insure no legal defense will operate for long without being paid. This is the standard model of operation by regulators worldwide and it is very effective.
Remember, Bryan was walking a thin line with regards to legal operations. Why do you think he changed wording to loan from investment? Since he was never properly registered with SC, and then when this was discovered, he registered in Panama so as to allow Malaysians in. BIG MISTAKE in my opinion. In short, you don't screw around with regulatory agencies and get away with it for long.
As it appears to me, this is payback. It may not have been illegal to register in Panama to allow Malaysians to loan money to an unregistered entity, but I am certain it pissed them off. To be shut down for a month without any statement says it all, they have no solid legal recource, so they take the easy route and strangle Bryan until he is dead broke, which should be real soon. Legal or not, it makes no difference, this is the game, win at all costs, typical strategy of all regulators, so for those who still think petitions are in order, FORGET ABOUT IT.
Good luck to all, Mike
Another question is how will that affect funds that represent Picpay balances,
that is our money. As far as how Bryan is living, he probably has millions stashed away whether you want to believe it or not.
Yes, we have money in online accts., out of the PIPS investment, either pending WT's or as balances. This LEGALLY belongs to us, BN shouldn't make any false decisions in this matter or even think to take our money or hold back for an unlimited time, this would be theft and in such a case (say after 3 months of total investigation with no end in sight) we should combine all our efforts and make some serious pressure on them to release funds which legally belong to us. All funds in Picpay are due to be paid to us!
Oh, please! As if he's going to do this even if he could! Just who on earth do you think you are? Our savior or something? I'll thank you very much to keep YOUR pressure to yourself. There's enough of it going on as it is.Quote:
Originally Posted by micky
I'm sure Bryan is a millionaire several times over from his ventures, with money stashed in different places. If he isn't something would be very wrong with his education as an international investor.
As for picpay, I wouldn't count on any funds that were in there. If you recall, there was so much credit card fraud and scammers ripping people off that it will take them (BN) months to just get to the bottom of it all. I don't think we will see picpay again, although I think we will see pips again in an amended form. Just my $.02.
I was concerned about this as well. It doesn't matter what Bryan may have stashed elsewhere, if all his funds (or access to funds) are frozen, he may need some help just to "make ends meet" - just like some of us. Anybody KNOW anything about this?
We are ALL blessed.
- John
Would have thought ALL his finances would be frozen. Now would he ask for help from the members? Probably not, firstly he's not really in contact and secondly would he be too proud to ask?
If it turned out the only way we'd see money again then I'd be willing to contribute to his legal side of things.