Is Pips what it is accused of???
Edit: The original title is inappropriate and shall be replaced. MOD - Yb.
I just found the following post in WWSForum. Is this true or not?
Enforcement Milestones Enforcement Actions Press Releases Investor Alerts
Have You Seen
These People? Lodge a Complaint Links Main
--------------------------------------------------------------------------Websites Offering Deceptive Schemes
www.pureinvestor.com & www.gopips.com
These websites are promoting a wealth creation scheme known as PIPS, PIPS Inc, People in Profit System, Private Investment Profit System, Pureinvestor and PIPS Financial Services. The scheme requires a minimum payment of $450 from participants and promises a fixed interest of 2% per trading day (equivalent to more than 10,000% per year if compounded daily). This scheme replicates a deceptive Ponzi scheme and is currently under investigation by Bank Negara Malaysia.
www.gopips.com
www.pureinvestor.com
Information about PIPS by other authorities
Press release from Australian Securities & Investments Commission (ASIC)
Press release from State of Nebraska, Department of Banking & Finance
Department of Law, State of Alaska
Press release from Texas State Securities Board
Press release from State of Missouri
Investor Alert list of Financial Services Authority (FSA), United Kingdom
Investor Alert from Guardian Unlimited, United Kingdom