Thread: Our Date With BNM Next Week

Hi pchin,
I read your post in New Zealand on monday 17/07/06, presumably you wrote on the 16th. does next week mean the week beginning on the 23rd or is it this week? any idea what day the meeting will be on.
Jim67

I assume these people live in malaysia.

Originally Posted by jim67

Hi pchin,
I read your post in New Zealand on monday 17/07/06, presumably you wrote on the 16th. does next week mean the week beginning on the 23rd or is it this week? any idea what day the meeting will be on.
Jim67

Well if it is on the 23rd it will be a good b-day present for me

Dear pchin,

Thanks a lot for the info.
will be waiting for your news.

Several people in Malaysia have been to BNM more than once already.

Dont expect a whole lot of news because Bank Negara only ask basic questions on how pips functioned.My friend (who has been interviewed 3 times) reckons there is quite a way to go yet.

Oh well

Don't expect much, this is what I got from a Malaysian friend who was interviewed by BNM recently.

"Regarding the PIPS, i was called for helping the BNM investigation this morning. BNM is currently conducted nation-wide investigation & i suppose all Malaysian who are PIPS investors involved. BNM basically would like to know what are the investors' understanding concerning the PIPS & PICPAY. There were totally 3 pages of questions, quite brief, eg - how many account you have, what you know about PIPS, how to register & some other very basic questions....). According to them, BNM has to intervene because some Malaysians lodged a complaint on not receiving dividend or very late payment from PIPS. BNM wish to wrap up the whole issue hopefully by the end of this year, but they did not PROMISE anything concrete. Well, this is so far for PIPS. If PIPS is found guilty, then, there may be a Court case & we as the witness may be needed to present at the Court - hopefully this is not the CASE !!!!"

I then asked him if they told something about the chances for PIPS to come back and this is his answer :

"The BNM didn't really disclose anything (may be they are not suppose to before complete the investigation). From the way they talk, it seems that the chances is 50/50."

I think that's all you can expect for this moment. BNM is not going to tell anything until the investigation is over.

take care,

Jakvp

Originally Posted by Dreamer

Several people in Malaysia have been to BNM more than once already.

Dont expect a whole lot of news because Bank Negara only ask basic questions on how pips functioned.My friend (who has been interviewed 3 times) reckons there is quite a way to go yet.

Oh well

Very close and irrefutably correct as to the protocol mode and message to the wide public...a 50/50 chance...which basically spells: We have to Wait & See don't we?

Until the investigation is finally wrapped up will it pose no truth just yet on the outcome facing all account holders with legitimate claims and as for Bryan and Sharon, there is no criminal acts committed (within the civil law code) and if that is the case, only the PP has the jurisdiction to determine the following steps that can, will or NOT AT ALL, file any court proceedings, once BN completes its assignment i.e. the investigation they are currently pursuing which is far from over.

This is the scenario from the very day all operations of PI Inc came to a grinding halt...nothing unusual and the more scattered the facts and details that comes to light...the more complicated or contradicting are the facts presented...the longer it shall be...but that is for many that follows and understands these familiar issues surrounding an investigation, knew how it was then and still is, pointless to try and jeopardise the entire course except by forestalling the investigation but it may also, add more details to it....

It all depends which side or which part of information gathered from the selected PIPSters can become detrimental or helpful to BN's search for facts and truth to have a definite conclusion to their side of the investigation before handing over to the State PP.

Better to spend your enterprising moneymaking braincells and remaining buck$$ elsewhere in the meantime...it will still take awhile and 1,5 to 3 years is quite the norm to hold onto the long drawn case as a whole. If it takes up to 4 or 5 years, well, one should be pretty busy by then with other successful programs or moneymaking markets that it doesn't matter anymore regarding Pips but forget we certainly won't, but to know what the eventful outcome after the entire investigation and/or any court decision...that will be the day worth waiting, for not any earlier with all the stress it has caused on some or more account holders...yes, a sad case but inevitable nonetheless.


YB.

Originally Posted by jakvp

Don't expect much, this is what I got from a Malaysian friend who was interviewed by BNM recently.

"Regarding the PIPS, i was called for helping the BNM investigation this morning. BNM is currently conducted nation-wide investigation & i suppose all Malaysian who are PIPS investors involved. BNM basically would like to know what are the investors' understanding concerning the PIPS & PICPAY. There were totally 3 pages of questions, quite brief, eg - how many account you have, what you know about PIPS, how to register & some other very basic questions....). According to them, BNM has to intervene because some Malaysians lodged a complaint on not receiving dividend or very late payment from PIPS. BNM wish to wrap up the whole issue hopefully by the end of this year, but they did not PROMISE anything concrete. Well, this is so far for PIPS. If PIPS is found guilty, then, there may be a Court case & we as the witness may be needed to present at the Court - hopefully this is not the CASE !!!!"

I then asked him if they told something about the chances for PIPS to come back and this is his answer :

"The BNM didn't really disclose anything (may be they are not suppose to before complete the investigation). From the way they talk, it seems that the chances is 50/50."

I think that's all you can expect for this moment. BNM is not going to tell anything until the investigation is over.

take care,

Jakvp

Jakvp

Thank you very much for reporting this to us.
Must say I’m not surprised they didn’t reveal that much. As you indicated BNM employees are strictly forbidden by law to disclose any pertinent details of an ongoing investigation.
What I find interesting, well incredible actually, is what BNM told you is the reason for the investigation – that some Malaysian members lodged a complaint with Bank Negara so they had to step in. I am not questioning you, just a bit taken aback if this entire episode is a result of some Malaysian members crying to Bank Negara that they didn’t receive their withdrawals on time! Is that what this is all about???

Originally Posted by Chester

I am not questioning you, just a bit taken aback if this entire episode is a result of some Malaysian members crying to Bank Negara that they didn’t receive their withdrawals on time! Is that what this is all about???

Yes, though not quite exactly after it also realised, it then became an opening up of another pandora box on PIPs "(il)legitimate" activities...that we all were led to believe, IT WAS... and should still be believed in good faith that they were, unless Bryan is telling us one thing, his Management and Executive Team is undertaking something else and the third scenario....where is all this and the gathered funds all leading to???

That has sparked off the obvious curiosity that embodies the whole money making circus operating from under their legal financial system...BN wants to know too and as deep as it can get, to be shared with the answers!

can someone tell that whether it is truth that 2% per day is really and posssile in financial world ???

I was interviewed by bnm and question me that why we pipsters believe 2% or even more per day is possible ? ? ?

The officer said even world bank , business man or bill gate cannot make this 2% daily possible and promise for long terms..No one can give tis margin . . . . . . tis is only a game by paying old members divident while revceiving from new members .

Stop internet investment ,stop believing daily interest of 1% or more .Stop dreaming and go work money out in proper way.

Chance of getting money back is 1% he said .

mmm