Originally Posted by michaelr
In July last year BM was preparing his presentation to call BNM in to assist him with the audit which was necessary to lift the freeze orders placed by clearing Banks which had been stifling the transfers as well as hampering the trading and assist him with the re-structure.
Due to the hasty actions of a few individuals who had little if any interest in the ideals of Pips the investion was initiated by BNM BEFORE BM made the call.
As a result of this when BNM started the investigation BM was in their sights as the target and suspect and not as a client who needed their assistance.
This misconception lies at the root of the problem.
In my view this investigation is taking a long time because it took them some time to accept that BM and indirectly ourselves the members were the innocent victims and that the guilt lay elsewhere.
It is quite possible that the investigation is now looking into the fact that there is a great deal of money missing both in frozen accounts around the world and conceivably as a result of "internal losses".
I believe it is important that they should be left alone to complete the task.
I also believe that what money is recovered will be released in due course and that BM and Pips will be given the clearance to develop a re-structured business plan approved by BNM.
Once this legitimacy has been achieved the future co-operation of the worlds clearing Banks should be assured and the business have a smoother path ahead.
Please folks lets just let them get on with it. BM has asked us to leave them alone to complete the task.
In all of our interests we should respect that wish and control our frustration.
Anger will not build sympathy for our cause,
Just a couple of bobs worth as I read the situation,
Michael