SEC To Investigate PIPS?

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Originally Posted by anonymous
I finally heard from my friend in Malaysia, and will fill you in on what he had to say in a moment. First I wanted to tell you about some of the happenings here in the "States" regarding PIPS and PIPSTERS.

One promoter is now being brought before the SEC to answer charges he was promoting a scam "Ponzi Scheme" program. He faces a $500,000 fine if proved, plus he has to reimburse those who he had invest up to 2 times their investment. The contention is that he knowingly had them invest in a program that was not paying and had not been paying for an extended period of time. On top of it all, he has not been paid a dime from PIPS. Then he has to pay for his own Attorney's as Bryan seems to be totally uninterested in providing any kind of help (financially or legally). He is hiding behind the bank has his assets frozen, plus servers so he cannot provide any accounting help, etc., etc.. To say the least, this gentleman is quite upset, angry, and I would not be surprised if he sues Bryan. He may have a case in Nevada, as Bryan came to Las Vegas for a convention, thus from this convention if he had people invest in PIPS, he could be charged under Nevada law, as well as be sued by this gentleman in Nevada. Getting interesting isnt' it?!!

Another couple in North Carolina are now facing running a "Ponzi scheme" for having people invest in PIPS when they knew no payments were being made, and had not been made for over 3 months when recruiting people for the PIPS program. As it stands right now, they face over 5 State Felony charges, as well as 3 Federal Felony charges. It could go higher, and could be reduced based on exactly what they are able to discover from their computer files, bank statements, etc, etc. They have told investigators that they wired all the funds to Bryan in Malaysia to the bank he had designated, and they knew nothing of PIPS no longer paying. Yet their own statements to the people they had invest are saying just the opposite. They told them they were not paying, but it was just a temporary situation as PIPS was changing banks to accommodate the high volume of money being invested in PIPS. The current bank was at their capacity for taking deposits. It even gets even more weird, as they are all over the place in trying to defend themselves. The more they say, the deeper it gets for them. They are now going to provide, what we call here in the States - "States Evidence." Meaning they are going to cooperate with the State and Federal authorities in going after Bryan and others in PIPS. The plot thickens.

As it stands right now, there are 15 States that have a Cease and Desist against all PIPS promoters, as well as the company. There are 8 more that are going to announce the same thing within the next week, and PIPS is under investigation in 9 more States. All the banks used by the promoters here in the States, are providing all their banking records as to deposits, bank wires, etc., etc., and quite a few of the "Big" promoters here in the US have had all their assets frozen, including bank accounts, cars, homes, boats, etc, etc., and all are facing wire fraud, bank fraud, running a Ponzi scheme, and I am sure there will be a few more charges thrown in for good measure.

This leads me to what my friend in Malaysia had to say. The bank there is working in conjunction with all the banks and the State and Federal authorities here regarding PIPS. While there have been some "good news" E-mails from Bryan to the masses to keep them hoping, his problems are just beginning. On top of this, authorities in Australia, New Zealand, Italy, France, Germany, England, Spain, Norway, Sweden, and Finland are all conducting investigations of PIPS and all the other related PIPS organizations. From what my friend found out, he says that PIPS will not be returning any time soon, and there will not be any restructuring as Bryan insists there will be, as this is not an option under Malaysian law. His new lotto program, is great on hype, but short on details. No discussion of the payout %, the % going to charity (as claimed by Bryan), how the company is licensed, or even if he has a license to operate this program. All just assume he does, but then what I have been told, none of this is properly registered or licensed with any government. The way he has it set up, he thinks he is outside all countries jurisdiction. A rude surprise is waiting for him. Seems not too many of the faithful are willing to put any money into this new crap shoot, which is what it really is.

The hearing was about not paying past wages due employees, and there are at least 2 more hearings on this issue to come. One will happen before the end of the year, and the other will happen in early to mid-January. The bank is not moving on releasing any of his computers, disks, hard drives, bank accounts, etc., etc. anytime soon. Just too many outside countries involvement for them to do otherwise. Even Bryan had to admit it was going to be quite some time before he thought they would be getting all their records, etc, and bank accounts unfrozen. My friend says that the Malaysian bank has been contacted by the US SEC, FBI, and Secret Service (they investigate all money laundering, scam, wire fraud, bank fraud, etc. issues). He says they are putting a lot of pressure on the bank to keep all accounts frozen until they can conclude their investigations.

A good friend of mine, here in the US, has extensive contacts within the Federal and State law enforcement community, and he said PIPS was a "HOT" investigation. Had Bryan not come to the US to host his convention, it would have been hard for the authorities here to do much against him. They would have been stuck with just the US citizens involved. But since he did come here, and solicted business, he now opens himself up to US legal action.

Bottom line is Bryan's legal problems are just beginning, and the light at the end of the tunnel is a freight train coming at him, not the end of the tunnel.

My Malaysian friend told me some other very interesting things, but unfortunately I am not able to release that information right now. I know it is frustrating for me to tell you this without going into detail, but what I want to impress is "things are not all well and good for PIPS, PIPS returning in any format, or PIPS related entities any time in the near future. If Bryan does bring a new program out before all this is cleared, he will just be burying himself even deeper.

Seems there is something brewing, or about to happen, in Merry xxxxx xxxxxx , and maybe you know about that end of it. From what I have been given a glimpse of, it won't bode well for PIPS and all the other related companies. I don't know enough to say more, but hopefully you know what I am alluding to, and can shed some light about it to me.

Here's a follow up.

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Originally Posted by anonymous
Just had a chance to drop by to read your followup to my last post. You may have heard that BNM has concluded their investigation and turned it over to the Prosecutor. This was just posted on ROL this morning. I got this from another source, as I got banned from ROL for asking some general questions. Guess they weren't the kiss assets and kudos to Bryan, so got banned. Took it as a badge of honor. Guess legitimate questions are not allowed.

As I found out about the post at ROL my friend from Malaysia sent me an E-mail stating most of what was posted was true. The only thing he differed with is that not only has it been turned over to the Prosecutor, but BNM is not totally done with the computers, servers, etc. that Bryan said he needed to get back up and running. He said these will be turned over to the Prosecutor, and the Prosecutor will determine just what, if anything, is returned to Bryan. He doesn't think Bryan will see any of his records, computers, servers, etc. anytime soon.

As far as xxxxxxx is concerned, seems the authorities have really gone after monies from Bryan since he is a British citizen. Seems there is an issue of back taxes, as well as fines, etc., etc.. Seems some British agents were in Malaysia discussing investments into Bryan's accounts and bank records with BNM, and some top level Malaysian government officials. As I had said earlier, his legal problems are just beginning and going to compound. My friend did not know just "who" these officials were from Britain, but just that they were there and not on Holiday.

Now there are at least 10 court cases going on here in the U.S. against the top promoters of PIPS in these 10 states. Some are being conducted by the SEC for selling unregistered securities, operating a Ponzi, Bank and Wire Fraud. Seems some never bothered sending the money to PIPS as promised. Bet Bryan would be hot to learn that he didn't get all the money paid into PIPS. Others are just facing state laws for mainly the same things. The SEC is only going after the major players, as they generated the most dollars into PIPS. I have not been able to determine if XXXXX is one of those the SEC is after, or if she is only being investigated by the state. Either way I would not want to be in her shoes. Pennsylvania has become very tight lipped all of a sudden on this investigation and who all the players are for both sides. Usually when this happens, something big is about to explode. Only time will tell. If I hear anything, I will let you know.

One of our major banks here has been working dilligently with BNM about wire transfers, etc., and where the funds went after arriving at BNM. There may be more offshore banks involved that accepted deposits from BNM, or Bryan. The net keeps getting bigger an bigger. PIPS is one "HOT" investigation here in the states. At last count there could be 25 states bringing charges, and a couple may go after Bryan to try and bring him back here for trial. He made a major error coming here to Vegas for that convention. That opened the door to his possible extradition back here for trial. A lot will depend on what the Prosecutor does in Malaysia.

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I would not hold too much credence with the Bank's website saying PIPS is still under investigation. They do not update their websites that frequently with issues such as this. They are more focused on keeping their products, etc. they want to offer to the public current. This area is one of the last ones to be updated. I am sure it will be at some point, but not a priority item for them at the moment.

I have a friend who lives in Malaysia, and he says everything has been turned over to the Prosecutor for the final decision. I don't know how fast their legal system acts, but this could be months before they make a decision as to what, if any, charges they will file. It was his understanding that everything the bank seized is now in the hands of the prosecutor, which also means none of this will be returned anytime soon to Bryan. At least not until they decide whether or not to bring charges or dismiss. With all the investigations going on in the United States regarding PIPS, the major promoters, and the participants; and the SEC being involved working in conjunction with the Malaysian authorities, this could delay their decision even longer. One thing is certain, the bank believed their conclusions warranted submitting this to the prosecutor for criminal review. If they had found nothing, they would not have submitted this to the prosecutor.

I do know that several major players/promoters of PIPS here in the US have had trials begin for selling unregistered securities, mail fraud, wire fraud, and promoting a ponzi scheme all brought by the SEC; and still face unspecified state charges. All total there about 18 states conducting investigations into PIPS, and many more that are just starting to investigate. It is a "HOT" investigation here in the US by the FEDS and states.

If PIPS is ever cleared in Malaysia, which I doubt, it certainly won't be allowed to solicit US residents. Throw in all the investigations currently going on in Europe, PIPS will not be able to return in any format there either. The real question is where is all the money, and which country will get Bryan first after Malaysia is done with him.

Sorry for the long post in reply, but thought it might be of help and interest to you and the others.

LynnRE