Thread: DBR fined by Iowa Insurance Dept

anyone who's ever been in a program that's caught the eye of "big brother" should know the word TRUTH has a very different definition in their dictionary.
So no matter what is logical and true in the real world has no bearing on any investigation involving SEC or any of their many alphabet spinoffs!!

Originally Posted by picabooo

Good point Tiiger.
How can their by fines against a program that were never launched?
As far as I know no money was ever deposited into any Pips secure program...

Think Iowa has overlooked a little tiny detail... lol

Simple,

It is illegal to pool funds outside of the rules and regulations in US, and DBR was US based, so they got hit for promoting PIPS, as in 3% pool. I said it from the start, they are opening themselves up to attack, and here we see they were indeed attacked, along with Brayn. And since BN was mentioned, you can count on the $500K being deducted and paid to Iowa, so that is $500K less of our money we will ever see. Pretty sad as I also warned Bryan about allowing pooling in Vegas. Bad decision, and a very expensive one. What is really sad is that DBR can't pay fine with Picpay which is all they received.

Good luck to all, Mike

DBR is not an entity from PIPS and is not linked to BM at all. DBR could have also offered Fidelity Investment or any other products.

Btw, it was stated on PIPS homepage that it does NOT sell securities. That's just a crap of lie all those US authorities come up with when they say "security". They very well know that these are not securities, they know only too well what PIPS is. It's their way to prohibit high yield investments to the small people! They deliberately bias the infos and present false facts in order to prevent that more poor people try to become debtless and that more people file a complaint! Please, please people don't get fooled by their false infos they present! They surely are NOT dumb, naive and clueless as they always present themselves, they very well know the real facts and know 100% what they are doing! Nothing is coincidence!

What about the undeniable fact that every person worldwide can decide where he sends his money to? PIPS has NOT offered anything directly to anyone. I think that each individual still has to go to that homepage, join and then pay. Offering a biz online means offering it automatically worldwide. If the usA uses such futile arguments then it has to prevent its citizens from investing offshore/online by all means or differently asked does the Internet have boundaries?? Internet is NOT the US but virtual reality. There are billions of webpages on the net and all freely accessible by everyone. In case if I were BM I would only say to them: Try to fool some kids on the street but not me!

To whom it may concern

Some times when people complain about a program no matter how good that program is or how well the complainers intention may be it sometime causes investigations.

When people do investigations may be they don't always collect all the facts before investigating.

That leaves the business or person to prove their innocense, which takes a lots of time,lots of legal stuff and sometimes lots of money.

I believe if a business has start up problems as most internet businesses do such as growing to fast, website problems, hackers,pay processing problems or any kind of problem. rather than complain I think we should give them time to fix the problem how ever long it takes because complaining is to expensive.

The program(Pipsinc) to me was easy to understand and I also understood the risk.

Everything was explained on the website.

I will wait patiently for the out come of the investigations then I will wait patiently for the reconstruction details from bryan.

Then wait patiently for them to materalize.

Praying with patience
omcelveen

Ps. God grant Me more patience and God bless Pipsinc.

I feel very badly for Eric and crew at DBRS... They worked VERY HARD at trying to help a LOT of people... There were probably a few WHINERS who complained about not getting their money back from DBRS who likely reported this to the IOWA insurance authorities.

Whoever made an effort to make trouble for the DBRS crew will be repaid 100 fold down the road... That C&D order and subsequent fine is now a HUGE NIGHTMARE for those poor folks that will haunt them for the rest of their lives... They surely did NOT deserve this kind of treatment... Anyone out there who reads this and was involved with making such complaints needs to be VERY ASHAMED of themselves... You've now hurt very innocent people NEEDLESSLY...

We are warned severly against giving false testimony against our neighbors...the Lord will repay you accordingly.

I've still have the bitter taste of SEC when about 15 years ago they stopped the operation of a company I had OTC shares in, killed it, and then SEC said that the business was above board. Who are these people answerable to?

Of course with all of these issues that have arisen regarding pipsinc. and associated entities there is a deeper story behind what is commonly known. DBR was a part of the whole pips story which in turn is a part of the evolving virtual finance industry. There are forces that are competing on each level. Some of the battles will be won by positive forces, others by the negative. For me, the tide (or war) is turning towards the virtual or global finance groups. The attacks and investigations into Pips et al, Gins, Plexpay and others are attempts to hold back the tide. As can be seen in the physical world that indeed can be difficult. So, here's to the future, a rejuvinated Pips et al, stronger than ever, new financial hero's at the helm. However, with these hero's a definite bent towards creating wealth for those that have been squeezed by or completely ignored by the 'established' onshore finance industry. So, if you believe in this new future, give money, make positive posts, help others understand. ..

Originally Posted by micky

DBR is not an entity from PIPS and is not linked to BM at all. DBR could have also offered Fidelity Investment or any other products.

Btw, it was stated on PIPS homepage that it does NOT sell securities. That's just a crap of lie all those US authorities come up with when they say "security". They very well know that these are not securities, they know only too well what PIPS is. It's their way to prohibit high yield investments to the small people! They deliberately bias the infos and present false facts in order to prevent that more poor people try to become debtless and that more people file a complaint! Please, please people don't get fooled by their false infos they present! They surely are NOT dumb, naive and clueless as they always present themselves, they very well know the real facts and know 100% what they are doing! Nothing is coincidence!

What about the undeniable fact that every person worldwide can decide where he sends his money to? PIPS has NOT offered anything directly to anyone. I think that each individual still has to go to that homepage, join and then pay. Offering a biz online means offering it automatically worldwide. If the usA uses such futile arguments then it has to prevent its citizens from investing offshore/online by all means or differently asked does the Internet have boundaries?? Internet is NOT the US but virtual reality. There are billions of webpages on the net and all freely accessible by everyone. In case if I were BM I would only say to them: Try to fool some kids on the street but not me!

Interesting,

Everyone knew DBR was given approval to pool funds for the 3% deal, so they were in fact connected to PIPS, not an entity of PIPS, but connected, just as would be the case if they sold for Fidelity, so they were rightfully charged, and even if money was never invested, it was put into Picpay, another PIPS entity. I don't agree with restrictions, but that is the way it is.

Do you really think by stating on home page we are not selling securities that this changes anything? As long as PIPS was offering investments, even if they changed word to loans, do you think it changes anything? All you had to do is read through the site and there were more than a few investment statements still on site. Too little to late, there should have never been the word investment from the start, but it is a little too late for that.

Once you open the doors using investment terminology, do you really think by changing it to loan it changes it in minds of SEC, or other regulators? NO, sorry, it makes no difference what you state on your site, agreement or any other documents, we all knew it was still an investment, right? And as to the last minute change of terminology to loan, this too is now considered a security by SEC, so as quickly as you try to get around the SEC, they will make the changes to rules just as quickly. Read the SEC rules and regulations and you will see what I mean. Again, I don't agree with them, but we have no choice in US, and it is the same in most other countries as well.

Good luck to all, Mike

Does anyone know of a company that came out of an investigation and thrived? That is my worry, I have never been able to find any information on a company similar to P*** that was investigated, cleared then started up again.

Maybe they can restructure in some way and start over. I agree with other people about the banking and insurance industry against a company like P***. If 2% per day and P*** could actually be left alone. Who would want to invest with a bank or insurance company?? That is their fear and I assume they will do all they can to make sure it does not happen.

evanw6