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Discuss PIPS/Pic-Pay Here.

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Posted by: Owen Platt

Probably frozen by the Central Bank as being derived from illegal sources.


Posted by: Hardlyworkin

I'm sure that the amount of funds frozen is no where near the amount that should have been there.


Posted by: Owen Platt

Absolutely - the well was dry long before August of last year.


Posted by: Offshore-Wealth.com

Interesting,

I wonder if the $7M figure mentioned wasn't the total figure of incoming investments and loans, rather than what is actually frozen? I would doubt that $7M exists today, and if it does, I wonder how it will be handled as far as money proven to be sitting in Picpay? Guess we will know soon.

Good luck to all, Mike


Posted by: Hardlyworkin

I seriously doubt that anyone will see any of the money that may be left whatever the amount. It will probably all be eaten up in fees by the Central Bank.


Posted by: Owen Platt

I think many have seized upon this figure as representing an amount sitting in an account. It does not. It is the amount that passed through the account on its way to wherever - presumably the Marsden's private accounts.


Posted by: Hardlyworkin

This might be of interest it is an update posted in the ROI Club forum by Bryan on Nov 3rd:

"Hi everyone,

A small update. Even though i was not going to post here, i decided to post
this for PIPS members.

The last couple of weeks has been, devastating really. Trial, court meetings..........
But me and Sharon are fighting it the best we can.

Lots is being said, but let me remind you, I could have cashed out a few years ago
if i had bad intentions, but i am still here.

I STILL have the same vision that pips was originally based on and STILL believe we can achieve it,
once this trial is over.

I would like to thank those PIPS members who have continued to show their support for me and Sharon.
With that support I know we can and will come back after the trial.

Won't know anything for another few weeks about the trial.
Hope for your prayers.

Bryan"


Posted by: forwardone

I still maintain that even if they aren`t found guilty of any wrongdoing the money can no longer be there.


Posted by: golddust

Quote:
Originally Posted by forwardone
.I still maintain that even if they aren`t found guilty of any wrongdoing the money can no longer be there.



This would be evidence of 'wrongdoing', IMO.


Posted by: Offshore-Wealth.com

Quote:
Originally Posted by golddust
This would be evidence of 'wrongdoing', IMO.


Agreed,

Money was long gone and whatever was seized will be peanuts in my estimation. Sure will be interesting to see what really is left.

Good luck to all, Mike


Posted by: forwardone

http://www.rolclub.com/pips-program...xt-mention.html

Quote:
Berita Harian Online - Ilmu & Maklumat (Malaysia) s3-gentoo.emedia.com.my

Finally, a report in the malay national paper. Here's the translation.


(1) The Seremban Sessions court allows the transfer of 7 seperate money laundering charges on BM from the KL Sessions court to its court.

The decision to transfer the charges was made by Judge Alaudeen Ismail after no objections were made DPP, Muhammad Saifuddin Hashim Musaimi.

(2) Marsden will face 57 charges, while his wife Phan Sew Ken, a Malaysian faces 48 charges of money laundering totaling to RM45.9million (about USD12.4 million)

(3) The court has set January 4th 2007 for next mention of the case. The accused were represented by their respective lawyers.

More of the same news reported in Utusan Malaysia.

Utusan Malaysia Online - Mahkamah



Posted by: dollarsblog

I wonder which was bigger as far as members, solidinvestment or pips or right now swisscash(another malaysian scam) ?


Posted by: Hardlyworkin

I'd venture to say that PIPS by far had a larger membership and following. Many people to this day still believe that Bryan will be back again.


Posted by: dollarsblog

I think your right. Personally i never saw how solidinvestment got so popular. He must have been using google adwords or something to bring outsiders in cause the admins were fairly anonymous unlike pips, even the site looked rather basic.


Posted by: golddust

Quote:
Originally Posted by dollarsblog
I wonder which was bigger as far as members, solidinvestment or pips or right now swisscash(another malaysian scam) ?



SI had many paid posters, right to the end. PIPs became a cult, right to the end.
Swiss Cash? They boast about having 170-200K members, but I doubt that. I just don't see the promoters that would suggest those numbers. I wouldn't call it a scam either, since there are no reports of not getting paid. All the information about SC makes it look like a scam, but so far it has escaped jurisprudence, probably because it has so many Maylasian members. If it fails to pay, PIPs trial will be a small hint of what will become of SC.

golddust


Posted by: forwardone

I think some find it so difficult to face up to the truth re PIPS. It`s a horrible feeling to look like a fool and know you`ve been ripped off.


Posted by: okosh

From RollClub....

Quote:
The Trial has Begun!!!

After several false starts and 2 years of waiting, it HAS started.

Summary:
Prosecution calling 5 witnesses, 2 have testified so far. Tendering evidence now resuming on a very monotonous pace but it promises attentive highlights we anticipate......



Posted by: forwardone

Wow, they eventually got around to it then.


Posted by: okosh

The wheels of justice turn slow but they do turn...
It's a real possibility this one could end up with a death sentence...


Posted by: forwardone

I don`t get it. I see over at RC that they are asking for donations toward the trial.

Is that FOR the prosecution against the Marston`s, or in SUPPORT of the Marston`s?

Either way, it seems to me to be throwing good money after bad...


Posted by: okosh

Quote:
Originally Posted by forwardone
I don`t get it. I see over at RC that they are asking for donations toward the trial.

Is that FOR the prosecution against the Marston`s, or in SUPPORT of the Marston`s?

Either way, it seems to me to be throwing good money after bad...


Roll club still support the Marsdens....
One of the mods at RC lives not to far away and has been attending many of the false starts to this trial...So the donations have thus far been used for things like travel and motel expenses....
The mod was supposedly covering the trial for the pips faithful....
These guys actually still think that the Marsdens will be cleared and that PIPS will resume....


Posted by: forwardone

Amazing! And one day Flo and MrX will come back too.


Posted by: golddust

The trial should be interesting, I doubt it will last very long. A death sentence is a punishment that does not fit the crime. Consider all the thieves in the failed Wall Street investment firms and around the globe. Is it any wonder the Marsdens are revered by some? In comparison, they are small time crooks.


Posted by: okosh

Quote:
Originally Posted by golddust
The trial should be interesting, I doubt it will last very long. A death sentence is a punishment that does not fit the crime. Consider all the thieves in the failed Wall Street investment firms and around the globe. Is it any wonder the Marsdens are revered by some? In comparison, they are small time crooks.


Their country so it's their rules...


Posted by: okosh

Quote:
A brief analysis of Day 1. Prosecution entered more than 50 documents into evidence, and called 3 of their 5 witnesses. Defense is that it is everyone else's fault, not BM and Sharon's. Day 2 will have more documents entered into evidence, and the other 2 witnesses called, then the Defense will present their case. I do not see this ending in 2 days.

Second trial is slated for all of next week (5 days), and this trial will have to conclude after this trial is finished. Just too much ground to cover in triaal one to complete in 2 days. Will be interesting to see when they will schedule the conclusion of this first trial.



Posted by: golddust

Quote:
Originally Posted by okosh
Their country so it's their rules...



Yes, quite aware of this; just my opinion.

okosh, can you provide a link for your source of information regarding this trial?

Thanks.


Posted by: okosh

Quote:
Originally Posted by golddust
okosh, can you provide a link for your source of information regarding this trial?

Thanks.


Information comes originally from RollClub....But only to those who 'donate'....

Naturally I'll continue to do my best to get the updates without paying for them



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