Thread: BNM Short news on the investigation

Originally Posted by Offshore-Wealth.com

Interesting,

I reread it and it is all about banks, as that is what BN controls, banks. So what part is not about banks, the securities stock companies that were applying to become banks? Maybe I missed the issues not related to banks? I didn't visit link, just read what John posted.

Good luck to all, Mike

I've reread it and your right. It is not about pips.

Originally Posted by Offshore-Wealth.com

Interesting,

Technically, there is nothing that would indicate any connection for Picpay was not a bank, nor would it qualify as one, it was an e-payment processor at best, and not a very good one at that. (g) I do wish BN would make a statement on PIPS as they did on bank applications.

Good luck to all, Mike

Well Mike...
let's just WAIT this out my friend...
no NEED to ask for ANYTHING...as it doesn't HELP US...right now...
BNM...have everything in control...we just have to WAIT for the
resolution of this DRAMA...
WHEN BNM at first announces the OUTCOME..

and ..hopefully...BM will give His Promised DETAILED
BRIEFING about the whole thing...

Just a THOUGHT..my Friend...

Largo

AGAIN MIKE...
this IS the best thing to do right now...IMHO

Largo

Originally Posted by Largo

Well Mike...
let's just WAIT this out my friend...
no NEED to ask for ANYTHING...as it doesn't HELP US...right now...
BNM...have everything in control...we just have to WAIT for the
resolution of this DRAMA...
WHEN BNM at first announces the OUTCOME..

and ..hopefully...BM will give His Promised DETAILED
BRIEFING about the whole thing...

Just a THOUGHT..my Friend...

Largo

Originally Posted by Offshore-Wealth.com

Interesting,

Technically, there is nothing that would indicate any connection for Picpay was not a bank, nor would it qualify as one, it was an e-payment processor at best, and not a very good one at that. (g) I do wish BN would make a statement on PIPS as they did on bank applications.

Good luck to all, Mike

Mike is right here.

The article was verbatim of what was on the BNM site. The information has nothing to do with PIPS, it was talking about banks. We have known for many months that BNM is the regulatory body in Malaysia for all things to do with regulations concerning monetary issues, which includes banks and securties.

Just as the SEC in the U.S. investigates companies, so does BNM in Malaysia.

It will have to wait until the link on the home page of BNM concerning PIPS changes, and reveals the decision. Once again this article has nothing to do with the investigation of PIPS.

Thank you for your comments my friends. Whilst I wish to remain optimistic I still wish to remain realistic
Peter

Marek, it is, and yet it isn't strange. If they had found real criminal reasons to prosecute, things would look different, and possibly have gone public already. I think this may indicate that there may be things that are not totally according to general banking practice.

If you look at the site referring to the Missouri evaluation, there were steps that did not follow Missouri state guidelines. However, there seems to be no information indicating criminal intent. At least not from what I read and understood.

What do you think?

Peter

Any of you who have ever lead a corporation will readily agree that there is never a corporation where there is no mistake made. Additionally, the mistakes made without intent are many, yet small usually. THe ones made with intent are readily found out in time to stop spreading, infesting the whole, like a little yeast.

Yet, you take ENRON. What did Lay really know? His trusted lieutenant, was so trusted, Lay never really questioned his lieutenant's intentions, moves, and advise. Only long after (4-5 weeks) it seems, when he realized they had all been lead around by the nose, including the board.

This tells us that leadership has to be searching, probing, checking all the time, to disallow persons from being tempted into unwarranted actions. Be this to uncover unintentional irregularities (honest mistakes) or irregular ones (covering intentional deceptions to bribe, profit unduly, manipulate for control or personal gain of some kind).

Peter

From certain things that I have heard about certain people Bryan could certainly have been more careful regarding the people around him. I wish that I could say more, but suffice it to say, if and when Pips gets back on its feet,a lot more care must be taken regarding security and trust.

I know that the wheels of the legal and banking world grind slowly, but surely we would have heard something by now if some serious misdemeanour had taken place. I guess that patience must be the byword for sometime to come.
In the meantime I hope that everyone is concentrating on other things.
Peter

Originally Posted by mariner688

From certain things that I have heard about certain people Bryan could certainly have been more careful regarding the people around him. I wish that I could say more, but suffice it to say, if and when Pips gets back on its feet,a lot more care must be taken regarding security and trust.

I know that the wheels of the legal and banking world grind slowly, but surely we would have heard something by now if some serious misdemeanour had taken place. I guess that patience must be the byword for sometime to come.
In the meantime I hope that everyone is concentrating on other things.
Peter

Interesting,

Yes, I have thought all along that this has to be one of the strangest cases to be investigated in Malaysia for it follows no other before it with regards to due process. If you read all the cases of suspected fraud, money laundering, illegal investment schemes, etc., you will see the same pattern, quickly shut down and clear discription of illegal activity and charged with such quickly to privent other losses to investors. This would be considered how most cases are handled, yet with PIPS, not even close to the same, so all I can say is this is extremely strange with no news at all coming from authorities.

Yes, as mentioned, this would lead one to believe it may be a case where only civil laws have been violated, not criminal, at least this is the small thread of hope I think most are hanging on to, at least I am. I have thought all along it is a very sticky case with the King involved in some way behind the scenes, this is the only explanation that would make any sense at all for the long drawn out investigation, with no news releases one way or another. Having gone over hundreds of similar cases, none are handled the way authorities are handling PIPS, now what does that tell you?

Think about it, in all similar cases of fraud, it is all over the news, and certainly, it would have been posted on BN site as the latest case was. So why are we all kept in the dark, and especially strange, why is Bryan not able to talk about anything? This has to be one of the most strange aspects of this investigation. It is almost like they are saying, please don't say anything and maybe everyone will fade away and move on to other ventures and they won't have to air their dirty laundery in public over government corruption or perhaps discover the King was invloved in some way which would cause embarrassment to government. This is the only thing that adds up IMO. (g)

Sure will be interesting to finally learn the truth, but something stinks here beyond the obvious. There just has to be a reason why Bryan cannot speak, and sorry folks, a gag order doesn't fit as it is not possible to order a suspected criminal the right to speak, even in Malaysia, this would violate a persons right to defend themselves, so why can't Bryan speak out and tell us what really is going on? Because the King has asked him not to, and the king has asked that no charges be brought against Bryan, and this is why we are all still in the dark after almost a year. It just does not compute.

Good luck to all, Mike

Let's take a bet on how many phonecalls the king will get about pips.