Negara still conducting investigation?

Pr0ph3t · #1 12-30-2005, 12:31 AM

According to their website, they're still investigating, so what's this talk about negara having finished. Can you guys please clarify because I didn't understand what happenned

dirty_bird · #2 12-30-2005, 02:22 AM

Clarification

BNM announced that they were conducting an investigation, posted to that effect on their website. They have rather sweeping powers compared to some Western regulators (or so it has been posted). They are probably like most agencies....they will post/announce the results when it suits them unless they have some pressure to _produce_ .

These things take time. The Norwegians announced they expect things to keep going until summer which would be about a year. That's not a slow investigation, IME. Some take much longer.

Who knows.

dirty_bird · #3 12-30-2005, 02:30 AM

From the ROL Club....

Quote:

Originally Posted by Misinformed poster

Plexplay was a similar program to PIPS, that was shut down and investigated. It went to court and the charges were thrown out so it's getting back on it's feet again.

Nothing directly to do with PIPS, other than a good sign!

Do people just make things up? The cops in Norway have publicly announced the Jorgensen & others will face trial next summer & more charges are possible. They are aslo interviewing 600 Norwegian members, especially those who's names appear on the customer lists of other Ponzi's.

Well...his programs seem to match his DD ability...

Quote:

Originally Posted by Same misinformed poster

I didn't join Plex - Pips ate all my money! I've got a bit in 12Daily Pro that's growing nicely and my 750,000 Dinars, but until Pips comes back that's all I'll have invested.
Reply With Quote

Looks like investigators can look forward to plenty of job security will people like this _investing_......

nothingscertain · #4 12-30-2005, 03:37 AM

According to somebody that phoned BN, they were told the investigation is finished.

The findings are with the prosecutor for evaluation.

STB · #5 12-30-2005, 04:14 AM

Quote:

Originally Posted by Misinformed poster
Plexplay was a similar program to PIPS, that was shut down and investigated. It went to court and the charges were thrown out so it's getting back on it's feet again.

Nothing directly to do with PIPS, other than a good sign!

So was GINS, 18 mths for 10 count of cheating with 59 counts pending.

Nothing directly to do with PIPS, othen than a good sign.

http://www.cad.gov.sg/com/press_release.htm

LynnRE · #6 12-30-2005, 07:29 AM

Pr0ph3t:

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

Duncun · #7 12-30-2005, 11:26 AM

No doubt there will be a lot of people involved in investigations in many states. Those people selling picpay to newbies to open accounts and whatnot are scammers of the first class. It is for sure illegal for them to be selling securities unlicensed. A lot of laws seem to be written to be vague but all encompassing. No wonder people go to Malaysia and Belize to open up their scams. But even there it is not possible to totally hide from the authorities.

**seeyoujimmy2** · #8 12-30-2005, 02:33 PM

I would agree that selling securities unlicensed is illegal.

However it is debatable whether selling or exchanging an e-currency for cash, goods or services is illegal. Unless you know for a fact that it is worthless. And that would be very hard to prove.

E-gold seem to be going through a difficult time and rumours abound. Would that mean that using e-gold is illegal because some people think it's going to fold? And if they do fold will everyone that used it since the rumours started be prosecuted? I think not.

And please do not try to blame Malaysia, Belize etc. for people going there to open up scams. Some of the biggest scams in the last few years have been committed by Americans living in America.

dogman · #9 12-30-2005, 02:37 PM

Yep, many people will be charged in this scam. This nonsense about being cleared (Pips, Plexpay) is just the usual blind cheerleader responses.

dirty_bird · #10 12-30-2005, 08:12 PM

Quote:

Originally Posted by seeyoujimmy2

I would agree that selling securities unlicensed is illegal.

However it is debatable whether selling or exchanging an e-currency for cash, goods or services is illegal. Unless you know for a fact that it is worthless. And that would be very hard to prove.

E-gold seem to be going through a difficult time and rumours abound. Would that mean that using e-gold is illegal because some people think it's going to fold? And if they do fold will everyone that used it since the rumours started be prosecuted? I think not.

And please do not try to blame Malaysia, Belize etc. for people going there to open up scams. Some of the biggest scams in the last few years have been committed by Americans living in America.

Perhaps not in the next few months or even in 2006, but you will be able to decide for yourself when the promoters go to prison or do a plea bargain. In the U.S., it is highly illegal. Anything to do with PIPS.

Or just call any one of the investigators listed in the C&D orders. PIPS is illegal as are all Ponzi & similar schemes.