Thread: DBR fined by Iowa Insurance Dept

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.

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.........