GINS blacklisted by Singapore Authorities***33;

[agilitus]

Originally posted by davinsoh@Jan 28 2005, 06:26 PM
The biggest mistake GINS did was to open a rep office in Singapore and hold a seminar there as well.

That arguement do NOT hold up.

Are you saying that if you open a rep office in a country
and hold seminars in that country, it IS AGAINST THE LAW.

And/or/but.

If you DO NOT open a rep office and DO NOT hold seminars
in that country, it is LEGAL??

Come on, give us a break, will you. Wich one is it??

My point is, either it***39;s legal or it***39;s not, period.


Sincerely

Chris

Originally posted by gdnm+Jan 29 2005, 09:39 AM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (gdnm @ Jan 29 2005, 09:39 AM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-davinsoh@Jan 28 2005, 06:26 PM
The biggest mistake GINS did was to open a rep office in Singapore and hold a seminar there as well.

That arguement do NOT hold up.

Are you saying that if you open a rep office in a country
and hold seminars in that country, it IS AGAINST THE LAW.

And/or/but.

If you DO NOT open a rep office and DO NOT hold seminars
in that country, it is LEGAL??

Come on, give us a break, will you. Wich one is it??

My point is, either it***39;s legal or it***39;s not, period.


Sincerely

Chris [/b][/quote]
Are guns legal in America?

Are guns legal in Singapore?

So it is legal to carry a gun in Singapore even you have license to carry one in America?


Do you know you even need to obtain a permit from the Singapore police force for public speaking?

Don***39;t be so ignorant and asked stupid questions. Singapore law enforcement cannot do anything if the scam is operated outside of their country. But if you go into their turf, you are dead meat. GINS could still continue operating their scam outside of Singapore and if they have know than what they know now, they would have stayed clear from Singapore and save themselves all this heat.

All the drug peddlars know that they are doing something illegal. But it is still a thriving industry and churns out thousands and millions of dollars worldwide. However, the operators know where are the places to avoid. They don***39;t push their stuff in countries where the risk is too high. The same goes to scam operators. Difference between PIPS and GINS is that one is run by a bigger and more expirenced crook than the other.

So back to your question, is it legal or it is not?
There***39;s is a chinese saying, "Use your backside and think***33;" (translate in English = NO BRAINER***33;)


Here***39;s the newspaper report on 28 Jan from their national papers, The Straits Times. You don***39;t have a license, you are illegal. Period.

This message was forwarded to you from Straits Times Interactive
(http://straitstimes.asia1.com.sg) by xxxxxxxxx@yahoo.com

Jan 28, 2005
Unlicensed financial services firms on MAS list doubles
by Lorna Tan



THE number of unlicensed financial services firms on the regulator***39;s
***39;investor alert list***39; has nearly doubled to 46 in the past six months.

The list, which was updated yesterday, is compiled by the Monetary
Authority of Singapore (MAS) and aims to alert investors about
unauthorised
firms providing financial services. When it was first published on July
26,
there were 25 firms named.

It serves as an early warning signal to consumers: If they deal with
such
companies, they will not be entitled to protection from MAS.

Financial firms are fed up with unlicensed entities invading their
turf,
providing products and services. Some even give the impression they are
regulated by the central bank.

One example is Global Financial Consultants, also known as Global
Resources
Consultants, which has been reported to MAS by licensed financial
advisory
(FA) firms.

The company appeared on the updated list yesterday.

Global***39;s website claims it has had an office in Singapore since early
2001
and that it markets investments products, including insurance plans.

The Straits Times was unable to reach anyone yesterday at Global
Financial***39;s office, located at Singapore Land Tower in Raffles Place.

Dr Alan King, the chief executive (CEO) of the similarly named, but
licensed, financial advisory, Global Strategies, has forwarded the
names of
about six unlicensed entities to MAS. He said: ***39;The issue is one of a
level
playing field. It undermines the credibility of the Financial Advisers
Act
and the industry.

***39;It***39;s no use having an enforcement system for the licensed people if
the
unlicensed people can go around and circumvent it.***39;

Licensed firms are constantly scrutinised by the central bank, and
company
officials face heavy fines and a jail term if laws are breached.

MAS said: ***39;The Investor Alert List publishes persons or entities whom
MAS
has received information on as undertaking financial services activity
without being licensed or authorised by MAS.

***39;If consumers choose to deal with these unregulated persons or
entities,
they will not be protected under the laws administered by MAS.***39;

The central bank added that ***39;further regulatory and enforcement
actions may
be taken against these unregulated persons and entities***39;.

Most of the unlicensed firms highlighted to MAS have offices in
Singapore
and websites detailing their products and services.

ipac financial planning***39;s CEO, Mr Paul Stefansson, said he had worked
with
two clients who claimed to have been ***39;ripped off***39; by an unlicensed
company
last year.

One ***39;victim***39; invested US***036;30,000 (S***036;49,260) in a financial product, but
got
back just US***036;6,000 after three years. ***39;They were sold products that
were
dressed up to look like unit trusts,***39; said Mr Stefansson.

***39;We analysed the fees that were printed in small statements - and if
you
don***39;t dig into it, you wouldn***39;t realise there is a whole bunch of fees
that
add up to 10 per cent per annum. It***39;s ridiculous***33;***39;

Industry players said investors also had a role to play in making
smart
investment choices.

Said Javelin Wealth Management***39;s CEO, Mr Stephen Davies: ***39;Investors
themselves have got to make sure, before they buy anything...that the
people
they are dealing with are properly licensed, properly certified, have
the
right background and are subject to proper regulation.***39;

INVESTOR ALERT

Unregulated entities

Aberdeen Langley

Alliance & Dunbar Consultancy

Astral European

Berkeley Samson International

Blane and Blanchett

Bowen Reece (formerly known as Chartered Asset Management)

Chartered Asset Management

Chartwell Asset Management

DM Gray Consulting

De Verre Lloyd & Co

Drexel Asset Management

Expatriate Financial Services

First National Financial Group

First Pacific Network

GINSystem

Global Capital Management

Global Corporate Strategies International

Global Financial Consultants (also known as Global Resources
Consultants)

International Options Trading

JP Moreau

Kearns Investment

Lombard Grand Incorporated

Martinez & Mannheim

Morgan Glenwell

McKenzie Smith (formerly known as Cabrini, Green & Ross)

Nectine Solomon Corp

Norstar Financial Group

Oppenheimer International

Parker Jennings

Premium Alliance Group

Primrose Trading Co

Professional Capital Management

Quantex

Richard Watson Associates

RMC Client Services

Rockwell and Bond

Stamford Financial

Sterling Capital

Sterling Futures Management

The Armstrong Group International

Towry Law International

Tzu, Waite & Associates Singapore

Warner Price Trading

Whitman Pearce & Partners

Windsor International Management

Yamato and Associates

Note: List is not exhaustive

SOURCE: MAS
IP Address:220.255.91.207

Chris, once again your point would be wrong and davinsoh***39;s point is correct when s/he stated that they both were crooks just one was more experienced. I wouldn***39;t be surprised if Marsden or one of his flunkies reported GINS. You need to re-read my reply to you on 12/30/04.

Remember that regardless of what nation a company is registered in, each member, is still required to adhere to their own countries***39; laws and regulations.

Peter Burton (GINS) originally had promised that GINS was opening an office in the US soon, then realized that PIPS had generated too much heat, so he backed off and changed his disclaimer and said the US option was out.

Well that didn***39;t go un-noticed by both members and non-members alike. Nor the fact that GINS had already recruited and signed a number members from the US via transferring members from their earlier failed doublers. Burton fooled no one with that lame attempt.

Now Peter claims to be adding EMO as a payment option. My guess is that he is an affiliate or is being compensated in some way. If they can handle the volume that he states and his mentor Marsden is trying so hard to Catch Up On PIPS Delinquent Payments, why doesn***39;t Marsden use EMO? I have highlighted a few for your reading enjoyment. BTW notice in his remarks he points the to US advantages in particular. This is Burton***39;s reply to GINS being hacked and money disappearing. :shiny:

We will be adding EMO very shortly as a payment option, they offer us a great facility for payment through credit cards with no chargebacks, plus funding through IntGold and bankwire/checking processes.

They also have interesting withdrawal options and could be a great asset for us with our withdrawal process as they are fast and we can batch transfer multiple withdrawals

So for instance if we had 1,000 in a day with EMO this is one transaction for us...fast..

I would say that EMO and BankWire will be our quickest withdrawal options in the future and would like longer term members to consider using these options

We can send money to your EMO account real time, you can load a debitcard, transfer to your bank, pay to Intgold real time, or issue a check or money payment order in the USA

They have a secure system and a great customer service department with multilingual staff that you can speak to and are happy to help.

I see them as adding great value to GINs as we share similar values and I would urge members to look at opening an account with them A.S.A.P as it takes quite a while to get this verified but that***39;s why the processing side is so quick.

Once again I would like to thank you all for your support and am reminded by something that some said to me the other day:

" The road to success is a bumpy ride, that***39;s why most folks chose the highway"
Peter

C.E.O GINSystem

peter@ginsystem.com
+44 (0) 845 226 9163

They have a secure system, WOW what a novel idea.

People are tired of the "HYIP got haccked" excuse. It is lies. It***39;s just the program managers making a getaway and blaming some "unknown" person that doesn***39;t even exist.

Ernest Thiam Meng Hwa (Defunct DMNGlobal CEO, current CFO GINS)



Peter Burton (current GINS CEO)



The dynamic duo (birds of a feather)



Dr. Tan Poh Choon ( GINS Director,the man with "connections")

[agilitus]

Hmmm..

Why dont they ALERT everyone of PIPS then, seems very odd
to me. That was my illegal/legal point.

Ohh, maybe you have to have an office in Singapore to be
put on the alert list :lol:

And of course, you have to run an illegal business, hmm, why
the heck is PIPS not on that list? That***39;s a no brainer to me:-)

Sincerely

Chris

I wouldn***39;t be surprised if Marsden or one of his flunkies reported GINS.

No, Nacho. "Flash" is the flunkie (who I think is davinsoh, as well as many other usernames), who, it it looks to me, had the unmitigated gall to tell Peter to "smile for the camera."

Whomever it was deserves a round of applause. I***39;ll bet that Peter won***39;t be smiling long. :lol:

[agilitus]

Here***39;s something for you to play with Notjo.

Do a search on PIPS, PIPSINC, well, you know
the names by now, see what you come up with.
It***39;s damn strange PIPS is not on that alert list,
isn***39;t it? LOL

http://www.mas.gov.sg/masmcm/bin/pt1Home.htm




Sincerely

Chris

Here***39;s something for you to play with Notjo.

Do a search on PIPS, PIPSINC, well, you know
the names by now, see what you come up with.
It***39;s damn strange PIPS is not on that alert list,
isn***39;t it? LOL

http://www.mas.gov.sg/masmcm/bin/pt1Home.htm

Sincerely

Chris

I***39;ve read everything on that site several times.

I believe that they have been flying under the radar but that has changed considerable in the last couple a weeks. Here is one of the address to report if you care to join the thousands of others who have. consumers@mas.gov.sg

Originally posted by gdnm@Jan 29 2005, 10:07 PM
why the heck is PIPS not on that list? That***39;s a no brainer to me:-)
Do a search on PIPS, PIPSINC, well, you know
the names by now, see what you come up with.
It***39;s damn strange PIPS is not on that alert list,
isn***39;t it? LOL

http://www.mas.gov.sg/masmcm/bin/pt1Home.htm



Sincerely

Chris

They will be if they ever set up shop in Singapore. That list was issued by Monetary Authority of Singapore, why would they want to list a scam operated in another country? Like I said before, have Bryan open a rep office in Singapore and see if MAS will have them blacklisted as well.

Btw, GINS has censored all information and links related to this alert list and they have took steps to ban parties posting such information in a desparate bid to save themselves from further embrassment. Unfortunately, the news was on the national papers and further action will be taken against them in due course.

To P3t3r of GINS, you have been warned. Banning IP ranges clearly showed that you are in FEAR as you can no longer answer to the obvious.

Extracted from the GINS forum:






Posted: Fri Jan 28, 2005 6:40 pm Post subject: New Forum Code

--------------------------------------------------------------------------------

Hi

I just thought I would define the purpose of this forum and the do and don***39;ts

Do come and ask questions relating to the GINs program or make suggestions on how we can improve or change for the better

Do feel free to chat, post comments of interest or share information that will benefit the Gins members

Do ask questions if you can***39;t get a problem resolved in the back office ticket system

Do show tolerance to members that may not be regular forum users and make them feel part of the GINs family

Do not use profane, insultive or abusive language in any forum posts

Do not post links to sites that could contain malicious code

Do not Spam.

Do not post any copyright material

I have decided to ban the IP range of any one found consistently breaking the forum code and the moderators will automatically delete posts where they feel the Gins forum members could be as risk from links with malicious code.

Peter

"links with malicious code"???.....come on P3t3r, you could do better than that :lol: