http://www.iid.state.ia.us/docs/press092105.pdf
I saw this on the Norwegian Forum
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http://www.iid.state.ia.us/docs/press092105.pdf
I saw this on the Norwegian Forum
so can anyone interpet this is a simple form? where does an insurance company get the authority over something in Malaysia?
Hi everybody,
It seems the accusations are very strong. It also seems that BM would be able to explain that they are so very wrong! In life, there are so many cases of similar matters that are so very different when one examines them under a microscope! I suspect that BM is a genius who's program is much too clever for these "simple bureaucrats" to understand! However, we will need to have some hard evidence to oppose the huge tide that is growing like a tsunami against our leader.
Unfortunately, we know so little.
I have many connections, and might mount my own "psychic tsunami" opposing these allegations, and countering with allegations of how the huge banks are "abusing their power" by stopping funds going to so many charities, so many poor people, so many deserving causes, and how they wish to persecute a perhaps "Holy Man" from his "Ministry".
What do others think about such a campaign?
Michael
One thing after another.
It is always the same thing, its all about registration and submission to the US definition of a security sale.
US says PIPS sells securities and that they are not registered with these state commissions...
PIPS says they don't sell securities and they don't need to register with them.
But, wasn't DBR collecting monies to buy into the 3% program, which required at least a million dollars to play? I don't understand why Bryan is charged with anything, since he wasn't involved with DBR. Please correct me if I'm wrong.
And, as far as the State of Iowa's ability to extract fines from Bryan, I think they've got as much chance as a snowball in hell of ever collecting. Just my opinion, of course, and I'm sure Bryan has enough legal clout to countervene any such order.
Good question, Peace7.
I remember inviting a lady, formerly a very able presenter and executive of a major insurance compay in Canada, to make a presentation to L.U.A.C. (now "Advocis") (Life Underwriters of Canada)(I was responsiblefor setting up meetings and speakers) about offshore investments with the Bank of Bermuda. I am sure the B. of Bermuda was never licensed to sell its products in Canada!
Michael
I don't undestand what DBR would have to do with PIPS. DBR was a group set up, NOT BY PIPS, to pool funds to join in the 3% fund. How can that make PIPS responsable??
Al
That IS Disturbing....500K as fine for Bryan and at the speed of the Certified/Registerd snail mail, it should either have been received by today or the latest, this coming Wednesday in Malaysia.
When I had that oppunity to get "pooled in" with DBR, I opted out with some wisdom and given advise gained from confiding with others that sees the conflict about "pooling" as it is then understood that certainly will conflict with PIPS "other programs" interests and which later turned out to be Bryan's insisted opposition.
With this fine solely on the undisclosed fact that DBR held against members knowledge, about Bryan not being a member or signatory to it....is VERY disturbing now!!! VERY much for me at this point...sigh.http://img.photobucket.com/albums/v4...verymademo.gif
Maybe we should have a fundraiser for DBR.........They are being charged with $500,000.00 in civil fines!!!!!!
From what I read about the other cease and desist orders, no one was fined!!!!!
Correct me if I'm wrong.........
DBR promoted the 3% plan which belongs to PIPS.Quote:
Originally Posted by almye
Those states law define PIPS programs as securities therefore they want them to be registered before being offered in those states.
DBR is not registered with the state of IOWA to sell or be an agent promoting the sale of these "securities".
Why others that are not registered go unoticed is because nobody complained.
Correction....Yes, it's 600K put together. DBR gets 500K plus 100K fine for the 3 individuals put together.
I have never seen the 3% program as an produkt of PIPS,the have talking about to maiby start an 3% program..
But until now,i have been in PIPS fore almost 2 years,and i dont have seen an 3% program yet as an produkt of PIPS..
Just my 2 cent..
Tiiger
It was called PIPS secure. DBR was just a company that acted as the intermediary by pooling the funds to achieve the minimum required to enter pips secure.Quote:
Originally Posted by Tiiger
Yes i have been with Bryan fore a long time,so i now the name..Quote:
Originally Posted by zik
But Bryan and PIPS have never started PIPS Secure,the have just talk about to start an program like this in the future..
But Pips Secure have never been LAUNCHED as an Product by PIPS..
Tiiger
That is true and I can't remember why DBR was pooling funds even before the program launched. If only they had been patient..Quote:
Originally Posted by Tiiger
I feel bad for DBR people being pulled into this whole fiasco.
What started out to be ready for the launch of the 3% .... some cash but most picpay payments ..this being done and talked about inside the old Pips forum to set this up for all.
You can't tell me that there wasn't complaints by no good, do gooders .. How would the gov. know ?..If they didn't get complaints or if the Feds,banks,insurance companies weren't sitting in the forum getting all the info.
Who to say they aren't with us now.
Forums are a places to bread private info , into a place to collect it as well.
My heart go out to Bryan & Sharon as well ... This should of NOT happened
BUT Lets go right BACK to those do gooders and maybe some inside help to bring Pips down.
This is my opinion and my alone .. BUT the snails are slugging along the ground leaving a slimily sludge along their way.
its amazing to me how people give their freedom and power to insurance companys the banks,and goverenment agencies like they know everything and treat them as gods comming to our rescue they say "we will save you from yourself,you dont know what you are doing"
no wonder they are getting more and more bold irrational stupid people back them up.
If memory serves me right, wasn't it Gary Nichol who was over the 3% program and had approved these pools?Quote:
That IS Disturbing....500K as fine for Bryan and at the speed of the Certified/Registerd snail mail, it should either have been received by today or the latest, this coming Wednesday in Malaysia.
When I had that oppunity to get "pooled in" with DBR, I opted out with some wisdom and given advise gained from confiding with others that sees the conflict about "pooling" as it is then understood that certainly will conflict with PIPS "other programs" interests and which later turned out to be Bryan's insisted opposition.
With this fine solely on the undisclosed fact that DBR held against members knowledge, about Bryan not being a member or signatory to it....is VERY disturbing now!!! VERY much for me at this point...sigh.
__________________
If Bryan gets fined, seems like Gary should be too.
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
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!!
Simple,Quote:
Originally Posted by picabooo
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. ..
Interesting,Quote:
Originally Posted by micky
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
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
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?Quote:
Originally Posted by evanw6
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?
Quote:
Originally Posted by evanw6
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!!
Interesting,Quote:
Originally Posted by Tiiger
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