Thread: BNM Short news on the investigation

I too joined with $450 and purchased another at the same price and received in excess of 20,000. also purchased one for my jusaband and my son, who in turn received iin excess of $10,000. had put in for w/d before it closed down, but am anticipating that when pips returns I will again get paid as will all of us. Bryan is doing his best for us -BELIEVE THAT AND HAVE FAITH. ALL GOOD THINGS COME TO HIM WHO WAITS.
BLESSDING ON ALL

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.

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.

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

Hi, Pipsters, this is a repeatation of my post under another thread entitle "It's time...... We do something about it" (just would like to get fast respond...)

I learnt from previous thread that some Malaysian did specially invited by BNM for investigation on the PIPS. May i know where could i find this "thread" within RolClub.Com ???

If BNM actually conduct this investigation by interviewing Malaysian especially, then, PIPS Inc been held by BNM is a real issue & investigation did actually going on. Could i have some view of those Malaysian who were invited for such investigation ??

Thanks & Regards,
Wisdom
PS - I strongly believe & dream that PIPS will make a Return if It's Clean.

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

Hi Mike

I have to disagree with you about the gag order as you call it. IMHO it is quite likely that the BN has the power to apply to the Courts for an injunction to prevent publication of information which is in their possession while they are conducting an investigation. They have restricted Bryans movements by having his passport and personal assets frozen as is already well known and I am sure they would want to restrain him from publishing anything while they consider that the case is sub judice.

Even if no injunction had been served it would not be in Bryans interest or ours for him to say anything that might prolong the investigation. By this I mean that every statement, comment or utterance by him in a public place will be recorded and the reactions of the readers studied by the investigators. Until there is no such activity I believe they will not close their files.

With regards to the involvement of the King this is not a hereditary position in Malaysia. The King is elected every five years and they do have sociological and political influence. Giving visible support to Bryans business ventures means in my view that he was giving his seal of approval to the humanitarian projects in particular as well as to the employment and urban regeneration possibilities that the businesses were carrying out in his Kingdom or Sultanate.

If what you are saying is that the King has asked the BNM to work with Bryan and not against him then that is also quite possible although how much influence he would have over a regulatory body is open to debate.

You also seem to be assuming that the investigation is centered around fraud. I have not actually seen that stated anywhere by the BN but then I might not have been looking in the right places!

I had thought that the investigation was concerned with the contravention of licensing regulations in Malaysia which would probably have been fairly black and white had we made investments but as I understand it loan debentures are a greyer area and this may be what is taking the time.

They may also be challenging the measures that were taken to place the businesses beyond their jurisdiction. There is also a lot of reform taking place in the financial services industry in Malaysia and so there may be some reluctance to pursue a case which would be out of date before it was heard.

Some of this information is heresay from people I spoke to when I was in Malaysia recently but it seems to me to carry some credence.

Just a couple of bobs worth as usual,

Michael