Thread: Missouri C&D Against PIPS

[EDITED] Admin

News Releases

FOR IMMEDIATE RELEASE
Monday, June 27, 2005
Contact: Stacie Temple, (573) 526-5076
Contact: David Cosgrove, (573) 751-1858

Carnahan's Office Orders PIPS to Stop Ponzi Scheme

Jefferson City, Missouri – The Missouri Commissioner of Securities David B. Cosgrove issued a Cease and Desist order on Friday against PIPS, Inc ("PIPS") aka PureInvestor.com. Secretary of State Robin Carnahan's Securities Division's prosecutors sought the order earlier that morning.

The Order demands the company cease securities offerings and investment advice in Missouri immediately. The order concludes that PIPS engaged in illegal conduct by offering unregistered securities and omitting material facts to investors.

PIPS, which claims to be registered in Panama, is an Internet-based Ponzi scheme with claims of 2% profit per day and other outrageous promises of returns.

"Ponzi or pyramid schemes are essentially robbing one person to pay another and are one of the top ten threats to Missouri investors," said Carnahan. "Investors should always be wary of investments that offer returns that seem too good to be true," she added.

The Securities Division has been investigating PIPS for several months and joins two other states that previously filed Orders against the company. The Division is also referring the case to Federal authorities for investigation of potential federal charges.

Ponzi schemes work because initial investors are paid inflated returns using borrowed money from new investors. The initial investors use the promise of high returns to lure future investors. When new investors stop coming in, the former investors no longer receive their promised returns. The end result is the ringleaders end up with the money and the investors lose.

Carnahan encourages consumers to call the Secretary of State's Investor Hotline at 1-800-721-7996 if they have any information or questions regarding PIPS or before any doing any Internet based investing.

"Investors should also beware of companies who make unusual requests of their investors such as personal account information or the opening of a special account for investment purposes," offered Cosgrove.

Investors can also refer to the Secretary of State website www.sos.mo.gov/securities further education on investment decisions.



from http://www.sos.mo.gov/news.asp?id=428

This site is funny, I post a Press Release from the Secretary of State for Missouri, presumably this guy/girl juju who was the only moderator around at the time deletes it.

I repost the Press Release wondering why it was deleted, and someone edits my post removing the part about the previous post being deleted.

These are very strange tactics at play here. I am a pips investor, and that C&D scared me. The behaviour of people here scared me as much though.

I guess I will be banned now.


Hi rufus,
don't get anger with me. I'm juju. I'm not against with any of your posts. You have the freedom to post whatever real information that you know regarding pxpx. But the problem is, people will start posting unwanted trolls from your info.

I've made this entire thread as a locked sticky, so that people can get your info regarding C&D order. It's not my intention to delete real information.

Cheers,
juju.

Pherhaps the moderator here or admin is bm in disguise lol
:lol: :lol: :lol:

motorcycleuk if it was BM I think I would be banned and had my PIPS account confiscated by now :)

Why post this crap here?? PIPS is no ponzi :twisted:

We know that. US government does not....... :cry:

and we know more than the u.s. government. perhaps we should be the ones making rules.

I wouldn't mind that at all..... :lol: :lol: :D

Originally Posted by rufus

This site is funny, I post a Press Release from the Secretary of State for Missouri, presumably this guy/girl juju who was the only moderator around at the time deletes it.

I repost the Press Release wondering why it was deleted, and someone edits my post removing the part about the previous post being deleted.

These are very strange tactics at play here. I am a pips investor, and that C&D scared me. The behaviour of people here scared me as much though.

I guess I will be banned now.

We dont mind that anyone post facts here. What i modified in your post on the top was some comments you made, that we did not stand for.

You are welcome to post here & don't need to be scared of us :-).
If we let all the stuff be posted here on this site, for sure nobody will like to come here anymore.


This is for all to read:
Rolclub is a private owned forum, payed for out of pocket expences, and moderated by many moderator + me as the admin. And you know what, We all do this for the users of our site for free, so you have a place to come, read, write posts, help each other out. Even though me and my team does the best we can, i am sure not all will appreciate that.

We try to do our best here. And we will continue to do so.

Regards

Admin

Admin
Thank you for what you are doing for us I appreciate it.