Thread: Q and A with BoN on the phone - Marek

I also want to thank you, Marek, for your inquiries and for sharing them with us.

The post was not the worst news I ever heard, but it didn't sound promising either. Obviously there are problems that will require more investigating before there is a true end to all this. I don't think this means the end of PIPS, but it also doesn't mean PIPS will get off completely innocent. But we'll just have to wait and see, the post did not really give a definitive answer on the future of PIPS.

thanks for letting us know

it doesn't sound very good

The only 2 people who know what is really going on (read Bryan & Sharon) aren't in a position to say anything.

Bryan assured that everyone would get his money. Let's hope it's true, quick and painless, until then... even though I haven't got any returns myself, I will be looking in detachment. I got used to that now!

Originally Posted by Admin

This Q and A is not the end of it. Its just some questions and answeres. Please wait for the final say. Or tell me what else we can do for you?

It sound like end (not that I was hopefull before your info).
No harm in continuing what is being done so far (i.e. wait, as you say).
Continue your good efforts and informing latest.

Originally Posted by jojozap

Marek just wondering from your post, when did you actually make the telephone call. I received the post at about 9am Aussie time, however Malaysia is 3 hours behind us and this means that the BON official answered your call at 6 am which is unusual for any Bank official to be answering call or am I reading it wrong.

When i send out an update, its upto the server to send the mail out as it gets it. If the server load is normal, the emails we send to all members gets sent out during one h. If the server load is high, there might be delays like hours from the first person in the members list gets the update til the last gets it( sometimes 5-6h), BUt to answer your question.

I was awake til 0700 AM, and i made the call about 04.30 AM Polish standard time today.

Marek

Originally Posted by retred

Marek I appreciate your efforts especially when I understand you have a rather full load with your exams. However I don't necessarily agree with your evaluation of the status. Consider who you were talking with and how much they have to lose if they're wrong or gain if they're right - it only makes sense the representative you spoke with would paint a dim picture, it's in their best interest to do so.

I agree the info doesn't sound as positive as I would like, but remember this whole program is so foreign to the banking industry and goes against their normal procedures they want to find something wrong. It justifies their feelings if nothing else.

I would imagine there will be some definite problems uncovered and they will make the most of them and slap whatever fines they are allowed so as to make the most of the situation. After all it would certainly look bad for them if they couldn't find something wrong - I mean they already have 5 1/2 months invested.

We're going to be waiting some more before it's all said and done. Those of you who feel this is the handwriting of doom and gloom, get on with your life and leave the rest of us alone. Do you feel compelled to try to convince everyone you are right by continuing your arguments? If you think it's over, fine. Take off, see you later and don't let the door hit you in the fanny on your way out. Those of us who are willing to wait for final and official word will still be here whether or not you, the Rolclub or any other forum is around.

If we come through in a changed and modified program, great! If there are fines levied, they will be paid and the changes made, I'm sure. But, if we are forced to abandon the ship through the decree of the gov't, then so be it. At least we'll have the satisfaction of knowing we didn't act in haste and add to the burden of others.

As for me, I'll be around to wait on the decision of the gov't and I don't need the opinions of those of you who don't agree.

Retred

Totally agree. I'm not waiting for closure, I'm waiting for the resourcefulness that BM has shown in the past. He may not be talking, but I really don't believe that you could find him sunbathing right now. He's busy. I'm going to keep myself busy also.

Good things come to those who wait. What's a year or two? WHEN the restructured program comes back, it will be better than ever. From thumpers' post, I gather that there were mistakes made. I remember now that I made some mistakes also with the last four or five multibillion dollar businesses that I ran. LOL

Just trying to keep some perspective here.

May HIS best be yours in 2006'
Lloyd(mmfast)

Originally Posted by mmfast

Totally agree. I'm not waiting for closure, I'm waiting for the resourcefulness that BM has shown in the past. He may not be talking, but I really don't believe that you could find him sunbathing right now. He's busy. I'm going to keep myself busy also.

Good things come to those who wait. What's a year or two? WHEN the restructured program comes back, it will be better than ever. From thumpers' post, I gather that there were mistakes made. I remember now that I made some mistakes also with the last four or five multibillion dollar businesses that I ran. LOL

Just trying to keep some perspective here.

May HIS best be yours in 2006'
Lloyd(mmfast)

could not agree more!

Totally agree with retred and mmfast!

jjm

Bryan has said "If it ain't from me." I can't think of a better time to hear a little something from him. Letting everyone hang and hang and hang without any kind of either encouragement or true news, bad or good, seems unkind.

Originally Posted by mayar

In the United States, an investigation of this type would be labled "criminal", if that were the appropriate description. Maybe Malaysian authorities are too polite. That's doubtful ....

The admission has already been that Picpay was "not good conduct of business" by operating without making payments and that portions of Pips were illegal within Malaysia.

So the question is - What are the fines? And what changes need to be made to satisfy the Malaysian government? More legal fees and time consumption!

Apparently, the Bank official didn't say that as a group of investors we needed to consider filing claim forms to recovery what funds were found. Claim forms are usually one of the first requests of United States investigators/prosecutors once a criminal investigation of fraud begins.

So now we all get to wait some more.

Thanks Marek for your initiative and concern. Keep up the good work - and lots of luck on your exams. (What are you studying? Hopefully, International Law.)

My thoughts exactly!