Good news coming ?

[positive]

Messenger,
thanks for the comment.
I must admit that I am a sceptic and doubter regarding Pips.
I met Bryan personally and he made the impression of being a honest man.
My knowledge of PPPs is another indication that Pips has no problems makíng the returns.

But I do not know for certain.
I have not looked into their books and bank-statements.
I have not seen their contracts and if the money is truly made like claimed by them.
I have not looked over the shoulders of Bryan in his office nor have I been with him when he contacted banks and had discussions with them

I am a believer - not more, not less.

You know how some call me because of this. ( dumbass, idiot and other nice names )

A believer hopes that he is right, he may "feel" that he is right.
But he has no evidence.

[venturescan]

I think the point Owen is trying to make (and I certainly don't speak for him) is that Banks have seen these `High Yield' programs come and go and that they are generally scams, therefore they choose not to deal with them.

Expanding on that point, dont you think it should be a huge red flag to potential investors if the majority of Banking Institutions refuse to deal with them?. Wouldn't you think if consistent 2% or higher daily programs were indeed a reality that the banks equity/derivatives departments would be involved?.

Now to play devils advocate, if pips and Bryan Marsden are honest don't you think they would be happy to submit to a annual audit as is standard practice. Wouldn't that report be information that would be released in subsequent investor disclosures?. If not, why not?.

In my opinion (and i only speak for my own personal views and they are to be taken with a grain of salt) I believe that PIPS is a typical prime bank fraud, probably one of the biggest for some years. As someone with a significant amount of experience in PPP and offshore banking I fail to see where Bryan can gain the returns he does, its just not grounded in reality.

If Mr Marsden was truly legitimate and on the square then he would be providing information to verify his claims and would no doubt have no problems getting a financial institution on-board.

Thats my take on the whole situation.

[Owen Platt]

I forgot to add that one of our DD requirements was for the production of three years of audited accounts or, if a start-up corporation, for a very thorough and detailed business plan.

[therealworld]

Great Post!

Originally Posted by Owen Platt

Absolutely correct. The only person who can either prove or disprove the situation at PIPS is Mr. Marsden and, with all the noise in the marketplace, surely it is time he did so.
Incidentally, I am not a banking "expert" (don't think there is any such animal) but after over a decade in offshore banking, I have seen so many "pie in the sky" schemes that one does become a little jaundiced.

[positive]

venturescan,
I cannot answer your questions because I am a believer in Pips only.
I have no insight if Pips is a scam or not.
I only believe until now that it is not.

Owen, thanks for the added DD requirements.
You have read about people making phone-calls and sending e-mails with C&D orders and newspaper articles about Pips to any bank where Bryan tried to open a bank-account.

If asked from the new bank why he does not want to use his former bank, what should Bryan tell them ?
"Well, guys, they think that I am a scammer or that my business is illegal or money-laundering or obscure. You know, they have cancelled my account because of the regulations they have to follow, but please take me as a new client.
I am honest and I will present you all trading contracts and everything else.
We can discuss the C&Cs with our lawyers and I can explain all the wrong accusations from the newspaper articles."
At this point the new bank-officer would hang up the phone, right ?

Would any bank on this world open a bank-account for Pips under these circumstances ?
I answer for you: Of course not .

Therefore the old questions remain:

1. If Pips is not a scam : how can they open a bank-account somewhere to pay us members ?

2. If Pips is a scam: well .... they should rot in hell or in jail or in both.

[Owen Platt]

I'm afraid you are correct - only Mr. Marsden has the answer. However, I think that any bank that was contacted and asked for information concerning a client would merely decline to answer. The query would not make it past the receptionist and I doubt that it would have any influence upon the bank or other entity's (i.e.VAT) decision to do business with PIPS or otherwise.

[positive]

Owen,
we both are sure that Bryan and maybe some of his inner-circle ( if such a circle exists) have the answers we all are looking for.

Banks are not allowed to give information about clients.
But what if the bank is called and contacted by e-mail and fax with the above accusations about a client ?

And besides that: from my own experience with my bank I know that it is impossible to convince the bank about an investment-scheme which yields more than 10% per month, in the case of Pips more than 20% net monthly.

As far as I can see, we have two basic problems:
1. We do not know if Pips is a scam.
2. We do know that Pips has big problems finding a bank.

Maybe I am missing something here, but the two points are reason enough to be worried.

[dogman]

Other problems:

1. The continuing to increase 7 month backlog in member withdrawals.

2. Merchants not getting paid on time or not at all.

3. No communicatin from Admin - no explanation as to why refunding merchants.

All these point to a SCAM. Nothing has been fixed for months... Just promises that never happen.

[positive]

I see the problems too, dogman.
There are explanations available, but I am tired of quoting them.

[dogman]

And all your explanations have never been proven to be true, Positive. And nothing has been done in months to fix these problems. You can explain all you want to - but many don't see anything being done to fix the problems. Just more excuses.

And more and more problems just keep cropping up. Points to a SCAM.