Originally Posted by Carlton Lewis
No problem Melg. I was a banker as was he - I guess we have much the same outlook. But I remember some wondering why BM did not call upon the Royal Family for help. My remarks were no innuendo but based upon fact. The "King" of Negeri Sembilan is notorious for his acceptance of backhanders. A Malaysian newspaper ran a long article upon him last year as being the most corrupt of all the rulers of the states.
As for the insurance policy, as I was acting to attempt recovery of funds for some investors, it was one of the first things I tried to establish as existing. There was no trace or record of any such policy.
And of course Pips was not licensed to do business in the US in spite of the oft repeated statements. The fact that no attempt was made to contest the C & D Orders is clear evidence of that.
My only interest in Pips is now academic - I have already informed my clients that in my opinion they will not be recouping their investment.
But the only ones with all the answers now are the Central Bank of Malaysia.