Thread: BNM Short news on the investigation

What i am trying to say in so many ways is simply. BM is not the person to be blamed! Its totally and fully BNM that has messed up the things.

Yeah, sure they do have full right to investigate.
But they also have a responsibility twards us, the members of pips!

So to those off you, that blame OLNY BM! You should direct your anger somewhere else. Those that really are delaying your case!

BNM! But also keep in mind, its Bryans request not to contact them, to not complicate things even more. Just by these facts, one feel powerless. You want, but you cant.! What a mess!

This is not to stirr up things as some say. These are the facts!!!!!!!!!!!!!!

marek

Marek, you're right - it isn't us they're trying to save LOL! Hope you feel better after your break. Gotta watch your blood pressure ya know.

Michaelr, you just cleared up a question I've had for some time: Did Bryan ever actually have (or take) the opportunity to call BNM in for an audit? You say he didn't. This certainly helps explain, to me, the somewhat hostile or at least uncooperative behavior of BNM. Thank you.

Thank you again Marek... WE in Iceland are greatful for all updates that comes along to us...
Please keep them coming... :)

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

Excellent post and very wise. I am glad we have people that think smart and not running as chicken without head.

Originally Posted by newlife

Excellent post and very wise. I am glad we have people that think smart and not running as chicken without head.

Hi newlife. I agree to the above. But you you mean that those that arent agree with you about BNM are " running as chickens without head?"

Who is running?

LOL!



marek

Some news is better then no news at all thank you Marek .
Gray

Hello to everyone,

I guess any news on PIPS is interesting read though it is unbelievable the amount of time and toll that has taken on us all. We have been very patient so far. I guess we will have to be a little more patient. This whole mess is very difficult to digest... not knowing what has happened to all OUR money and when will we every recoup any of it. To my mind this so called bank will probably get to keep our money since its their country with their rules that govern. That's what greed does to these countries, they see something good that works and they then have to take some kind of pretense to destroy it and keep the money. This whole thing makes me sick! I have no alternative but to wait like thousand of others in PIPS for any good news if and when it comes. I don't know how Bryan can stand it ??? Unless there is some real true valitity to even having an investigation... I still think this is a fabricated mess with some B*** S^^^ added to it. I pray and hope that we all have the fortitude for a little while more. I do wish that it will all turn out just great for all of us...I really do. Cheer!!

Paul Burns

I really appreciate the updates. God bless us all.

Well, all I have to say is anyone who takes any negative action that could impede the investigation even further, will have to do it on their own as far as I'm concerned. And IMHO, nothing should be done unless you're going to take a full vote of the PIPS membership that comprises the majority of this forum, since they will also be impacted by any actions taken.

No one individual should be just thinking of themselves in this situation since soooo many are involved. I sure as heck wouldn't presume to think that I know what's best for everyone else....but I sure would make sure I understood the ramifications of my actions should I choose to do something that might impact all that are involved as well as the whole membership of this forum.

Just MHO.

Oh, and by the way, there has been an internet company that I know of here in the US where everything was seized by the SEC. That case has been "in progress" now for about 18 mos. Expected conclusion is October of this year.

My point being, Malaysia isn't the only government that does lengthy investigations.