Just read this:http://lwb.lawnet.com.sg/legal/lgl/r...rts/49802.html
I wonder are there any gins members in this forum so can share with us .
since gins been investigate by bon and I wish to know what gins going to do with members who invested.The program also 2% daily which similar to pips.
Is that the statement from BON ? So what BON want gins to do next.Just get some inform on gins and will pips be the same situation we dont know.
Thank you all for sharing .
mmm
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Thread: take gins for exmple
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15-02-2006, 03:36 AM #1
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take gins for exmple
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15-02-2006, 04:30 AM #2
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The case was heard in Singapore. The cad, not BON were involved in bringing about the prosecution.You cant really compare it to pips.Gins began life in Singapore but ended in Malaysia if I remember well.
There is a new plan for 10% monthly about to be released.
Read through the case files for all the info.
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15-02-2006, 06:43 AM #3
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wow that was a long read.
So GINS was a scam after all. I was hoping it wasn't. Not that I had invested in it, I was about to before it got shut down.
I got a bit confused about one thing mentioned in the text. It said that PPPs are not viable, not real. Do they mean all PPPs in general or only the 6 PPPs in this case? Are all PPPs fake?
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15-02-2006, 07:14 AM #4
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Originally Posted by moonbear
pinetree
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15-02-2006, 08:40 AM #5
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Having read all of the documention contained in the above link, it would seem that PPP's are viable, but after commissions would fall short of providing enough capital to pay the investors the returns promised. In other words, had GINS promised a lower rate of return to investors, everything would have been okay.
Further, it looks as if this judge had a serious problem with the defendants lack of any kind of a sense of urgency where the investors were concerned. I believe, after reading the judges' rulings, that if the accused had at least made a serious attempt to complete entry into ONE PPP, seen it through to fruition, this judge may not have made the decision that he did.
I was not invested in GINS, and have absolutely no background or history on this program at all. This is just how I interpret the courts findings. Further, I invested in PIPS in mid April, '05, so I don't know alot about how the inner management functioned. In GINS, seems as if it was the individual responsible for finding the investments that was held responsible for any wrong doing with regard to the investors. With PIPS, who was responsible for making these investments? In other words, if investments had been made by the GINS accused, I don't think he would be going to prison.
Again, that's just my take on what I read,
treasurhunter1
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15-02-2006, 01:00 PM #6
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Offshore-Wealth.com
Interesting,
After reading and re-reading this case over and over, it becomes obvious that PPP's are nothing but smoke and mirror pyramids. What we see here is one pyramid investing in yet another. The example given which was based on a deal where he pulled out the money and did not reinvest again, so he saw $450K in less than a year, and thought this was for real. Little did he know he was lucky, which is the basis of all pyramids, being lucky to get in and out first, so with no real DD being done, they start a copycat to PIPS.
Sorry, but this reads just as I expected it would. I have researched so many of these so called PPP's and have yet to verify that they are indeed real. There is always something that changes at last minute to skuttle most deals. This was the perfect example of why there was no proof provides that these deals to exist. They are always based on some secret investment that the rest of the world never hears about. Sure sounds fishy to me.
Bottom line, there was never any investments made as promoted, in fact, outright lies that investments had already been placed with PPP's. The only investment of any kind was in a lounge, and wow, does that ever sound familiar. I guess if you are going to copy a PIPS, you might as well copy everything exactly. Sure was an interesting read.
Good luck to all, Mike
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15-02-2006, 02:34 PM #7
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Originally Posted by Offshore-Wealth.com
I haven't investigated stuff as much as you did for sure, but I'd like to believe you got the nail on its head there. Especially the points I highlighted.
Agreed with all you said, mainly because it supports most of what I once suspected (and now understand better).
Wacky
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15-02-2006, 02:38 PM #8
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Was PIPS investing in PPS?
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15-02-2006, 02:43 PM #9
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Hopefully no! But I doubt anyone can give you an informed answer to that.
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15-02-2006, 03:06 PM #10
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I’m of the impression that legit PPS’s exist. As an example, isn’t that United Nations program that PIPS was invested in a PPS? Or is that something entirely different?
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