Thread: 5 Ytp

The funds invested in 5 YTP should have been held under a trust account, if the accounts were closed than where has the monies gone and why can't I withdraw the amounts deposited in the 5YTP account.

Originally Posted by Vasant Bhuta

The funds invested in 5 YTP should have been held under a trust account, if the accounts were closed than where has the monies gone and why can't I withdraw the amounts deposited in the 5YTP account.

Excellent question... we know for a fact they weren't insured, even though we were told in Sept. '04 (unequivocally) that they were insured. So... why should we believe the funds were placed in a trust account? Just because we were told they were?

Vasant, my sarcasm isn't directed at you. I sincerely hope at some point in time you receive the funds you've invested in the 5ytp. All we (Pips investors) are guilty of was believing what we were told without any evidence to the contrary. I believe your question is an excellent question to add to the "Questions for Bryan" thread. I also believe there are a lot of questions that will never be answered. Let's hope I'm wrong.

Originally Posted by Vasant Bhuta

The funds invested in 5 YTP should have been held under a trust account, if the accounts were closed than where has the monies gone and why can't I withdraw the amounts deposited in the 5YTP account.

The monies were open to refund to your Pips accounts. Each member of the 5YTP had to reclaim their own via their own account. Did you do that?

Originally Posted by Vasant Bhuta

The funds invested in 5 YTP should have been held under a trust account, if the accounts were closed than where has the monies gone and why can't I withdraw the amounts deposited in the 5YTP account.

AAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH HHH

krisark

Grace, mercy and forgiveness will help a man walk tall - JCM

We (at least I was) were notified by e-mail instructing us to withdraw our funds because it was being shut down. It took less than 2 minutes to do that and the transfer was immediate. The notice was posted at the 5YTP site as well.

I got the same e-mail notification etc. and tried to do the refund thing but it didn't happen....the funds wouldn't transfere...It was so long ago now that I can't remember why....oh well, it was money I'd earned as rol so I didn't really loose anything except the
$ 5.00 fee it took to notorize the documents and the shipping charges...

Ryan