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PIPS Is Ponzi Warns New Zealand Securities Commission

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Posted by: forwardone

A warning about PIP has been issued by New Zealand`s Securities Commission.

http://www.sec-com.govt.nz/new/rele...05/211005.shtml


Posted by: Hardlyworkin

Here is another one posted in Malaysia that I saw in another forum:

http://www.sc.com.my/eng/html/licen.../decScheme.html


Posted by: forwardone

Hardlyworkin, that link doesn`t seem to be working right now.

Quote:
The page cannot be found



Posted by: Rog

"Does the scheme use electronic currency? If so, how will you know whether the balance in your e-account represents real money?
Does the scheme require you to send money overseas? When you do, New Zealand authorities can't help you get it back."

OMG! Is this New Zealand's Securities Commission's first day on the Internet?


Posted by: Hardlyworkin

Just fixed the link in my previous post, should work now.


Posted by: forwardone

Yes, that`s working, many thanks.


Posted by: Rog

No offense to New Zealanders. Similiar warnings are issued in the US in various States. Primarily Pennsylvania which is a Quaker State.


Posted by: Hardlyworkin

There also have been warnings in Alaska and numerous other states.


Posted by: hawk

Quote:
Originally Posted by Hardlyworkin
There also have been warnings in Alaska and numerous other states.


All SEC post are with no proper information and are just hot air. They post on their assumption not a fact.

Just read carefully and you will find out how they write definitions. Truth is that PIPS never advertise as company and if someone else did without license that is wrong.
Jurisdiction can only apply to company that is based in that state. PIPS has not have any legal obligation toward someone else if they promote on their own.


Posted by: Hardlyworkin

Agree hawk. Some time ago they stopped the referral commision and told everyone to take down sites advertising PIPS and to stop promoting it.


Posted by: DontBefooled

And now it looks like the Canadians are taking more than a passing interest in PIPS.

http://www.hyipdiscussion.com/pips-...23-05-a-13.html

Quote:
thought I would post this here as it seems to fit. I am a Canadian citizen. I was interviewed today by the intelegence division of the RCMP. This is a national police force in Canada. I was asked about my involvement with PIPS everything from how much I/we have invested, how I/we invested to wheather or not I/we were going to invest in the lotteries.I was even asked at the beginning if I wanted my lawyer present.The interview lasted about 2 hrs.The interesting part was the countries of U.S.A, Malasya, Australia, Sweden, Norway, Great Britian and "other parts of Europe" were also mentioned at one time or another in the interview. No charges were laid as they had no grounds for any. I was a little shaken in the beginning, because no one but a select few knew of our investment in Pips.They wouldnot disclose how my name came up. No one who knew says they never told anyone.So I don't know and I guess now don't really care. To all my Canadian and American freinds out there I can only say Heads Up.




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