Thread: DBR fined by Iowa Insurance Dept

Good point,

Sadly, I don't know of any, and there have been plenty who have not come back after being attacked. The sad reality is, even if a company was able to survive such an attack, they are usually ruined by the fales accusations as the press is always notified so that the damage is often done guilty or not.

What is interesting about this case is that no press releases at all were made about seizure, raid, or whatever you want to call it. This was very unusual, but then again, this is Malaysia, so I don't know what their strategies are, but in US or other countries, a company is destroyed with false accusations leaked to press just before company is pounced on.

If we use GINS as an example, look how long this has gone on with delay after delay in hearings, and this too is a strategy regulators will use to suck the last dollar out of company. It is always tough to wage a legal battle when they seize all your assets. One thing you can count on is this, lawyers will not work for free meals at the Bistro.

Sad to say, but once you hear a company begging for legal defense donations, it is all but over. Same thing with petitions, if there was any hope, you certainly don't need petitions as they never carry any weight with regulators anyway. These are last ditch desperate moves in my years of researching other regulatory attacks, so I sure hope things are different in Malaysia.

Good luck to all, Mike
Invest Peanuts for Millions

Originally Posted by evanw6

evanw6

Hi all. Disturbing news for sure...has to be a heartbreaker for BM. One has to wonder what all these people are supposed to be protecting someone from or are they protecting banks and corporate interests? Works for Bush and oil! Why is the USA so fierce about income coming into an economy that is currently 44.1 Trillion dollars in debt?
The Thought I had was ; Is Bryan considering asking a recognized Govt banking agency for protection from the BofN? This has to be a very attractive target for someone out to steal money and there is a lot of money at stake here...(we may need a watchdog to oversee this overzealous watchdog)
Is he considering suing the BofN for our lost incomes and slander against PIPS .
I see no reason that the people allowing these things or who are initiating these charges should get off without penalty,do you? Everytime these charges are made and proved false should we not immediately counter with some action of our own?

Originally Posted by evanw6

Hi all. Disturbing news for sure...has to be a heartbreaker for BM. One has to wonder what all these people are supposed to be protecting someone from or are they protecting banks and corporate interests? Works for Bush and oil! Why is the USA so fierce about income coming into an economy that is currently 44.1 Trillion dollars in debt?
The Thought I had was ; Is Bryan considering asking a recognized Govt banking agency for protection from the BofN? This has to be a very attractive target for someone out to steal money and there is a lot of money at stake here...(we may need a watchdog to oversee this overzealous watchdog)
Is he considering suing the BofN for our lost incomes and slander against PIPS .
I see no reason that the people allowing these things or who are initiating these charges should get off without penalty,do you? Everytime these charges are made and proved false should we not immediately counter with some action of our own?

I agree, it'd be great to do so becuase they deserve it but unfortunately, it takes money - a lot of money to go up against the big guys. And I think we all know who the big guys are out to protect and it certainly isn't us. It's sad.

But the internet is levelling the playing field and corruption can go un noticed for only so long before the little guy (of which there are more OF us) get really sick and tired of being run over. Then - there will be civil wars. These bureaucrats had best beware. The little guy has begun to wake up and the pendulum is beginning to swing the other way. And it just may have begun because of our courageous Bryan and Pips.

I agree,but as was stated above,lawyers don't work for free.Anyone can run around and make accusations against anyone else,true or false,but to fight these accusations you need a lawyer!
Interesting little circle of darkness there.

Piccologal,you beat me to it!!!

Where can I find this information you stated here?

Thank you.

Michael

DBR fined by Iowa Insurance Dept

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http://www.iid.state.ia.us/docs/press092105.pdf

I saw this on the Norwegian Forum

Here you go Michael

Yes !!

But DBR has nothing to do with PIPS..

And an 3% program has never exist as an produkt at PIPS...

And the hole thing is about an 3% program,PIPS has never LAUNCHED,not even PRE LAUNCHED an 3% program..

Tiiger

Well, no idea if someone else has thought about that...we are talking here about Malaysia...all the banks are corrupt but let's hope that BN is not sooo corrupt and steals all our and PIPS money!!

Originally Posted by Tiiger

Yes !!

But DBR has nothing to do with PIPS..

And an 3% program has never exist as an produkt at PIPS...

And the hole thing is about an 3% program,PIPS has never LAUNCHED,not even PRE LAUNCHED an 3% program..

Tiiger

Interesting,

The moment a company or entity collects the first payment for whatever investment, loan, it becomes an issue, and it is not related to the actual investment, it was the pooling of funds that started investigation, as well as the fact the owners of DBR fell under insurance regulators, so it makes no difference if 3% deal ever launched, it was the act of merely promoting it that was the violation and caused the subsequent fines to be issued on all parties involved, directly or indirectly. I would not be surprised to see them go after everyone in the pool with fines as well as many were also promoting it in Iowa.

Good luck to all, Mike