PIPS and the Malaysian SEC

Owen Platt · #1 07-26-2005, 04:52 PM

I have seen a number of references to the Malaysian SEC having "cleared" PIPS on a number of occasions.
However, it would seem that the only company in the PIPS group that would come under the jurisdiction of this body is Pic Capital Ventures, which does not have anything to do with PIPS Inc. or Pic Pay, the companies from whom so many investors are experiencing difficulty in retrieving their funds.

unbelievable · #2 07-26-2005, 07:43 PM

Quote:

Originally Posted by Owen Platt

I have seen a number of references to the Malaysian SEC having "cleared" PIPS on a number of occasions.
However, it would seem that the only company in the PIPS group that would come under the jurisdiction of this body is Pic Capital Ventures, which does not have anything to do with PIPS Inc. or Pic Pay, the companies from whom so many investors are experiencing difficulty in retrieving their funds.

This same subject has been worn out in the past nine months here and the general consensus is that Malaysian SEC has no jurisdiction over Pips Inc and Pic Pay. Reason is that Pips Inc and Pic Pay do not sell securities as far as I know. This is my take on it and nothing else. I do not want to sound like I am an expert in this area as I am not. We already have a slew of financial gurus posting here and I don't want to add to the confusion. I will just continue to wait and see.

dogman · #3 07-26-2005, 08:04 PM

and yet, Pipsters also claim that the Malaysian SEC has cleared PIps. So if it has no jurisdiction over Pips, then how can the SEC clear it?

Which is it? Pipsters keep changing their minds whenever it fancies them to try and justify this scam.

maouse · #4 07-26-2005, 08:08 PM

Yeah. From what I've read the Trust is an offshore NZ Trust which is not responsible to any authority. So no audits, account info, or statements are expected. Which really is a wash as far as legitimacy goes. (keeping in mind that many legit businesses use these as well as many scammers)

He's going to have to get busted somewhere with extradition to a place where what he is doing is his problem to defend. As it stands he's innocent until proven guilty, and pleading the 5th. Which is to say that he might not be so innocent, but he sure isn't going to turn himself in if he isn't. He'd have to have fiduciary contracts which went un-fulfilled in a jurisdiction he is in. Say PicPay withdrawals not being paid... something like that.

-Marcel

maouse · #5 07-26-2005, 08:09 PM

Quote:

Originally Posted by dogman

and yet, Pipsters also claim that the Malaysian SEC has cleared PIps. So if it has no jurisdiction over Pips, then how can the SEC clear it?

Which is it? Pipsters keep changing their minds whenever it fancies them to try and justify this scam.

Come on, we all know that a few PIPSters are willing to "bend the truth" for the cause. REFCO comes to my mind...

-Marcel

Kairos · #6 07-26-2005, 08:42 PM

Quote:

Originally Posted by dogman

and yet, Pipsters also claim that the Malaysian SEC has cleared PIps. So if it has no jurisdiction over Pips, then how can the SEC clear it?

Which is it? Pipsters keep changing their minds whenever it fancies them to try and justify this scam.

I don't want to get into the debate of whether pips is legit or not but hear me out. Lets say a company was offering an investment opportunity that wasn't a security, but people thought it was and reported them to the SEC. The SEC investigates and see's that what they are offering isn't a security then wouldn't they clear them?

punkyg · #7 07-26-2005, 09:17 PM

Quote:

Originally Posted by Kairos

I don't want to get into the debate of whether pips is legit or not but hear me out. Lets say a company was offering an investment opportunity that wasn't a security, but people thought it was and reported them to the SEC. The SEC investigates and see's that what they are offering isn't a security then wouldn't they clear them?

Shocking.....simply shocking!! There is actually some logic still in TG.

TonyUK · #8 07-26-2005, 09:30 PM

Quote:

Originally Posted by punkyg

Shocking.....simply shocking!! There is actually some logic still in TG.

Al this chat and discussion - and as always, the punky pleb can only fire insults. Are you capable of constructive argument pinky or do you just grunt at people ?

I really have seen more life in a tramps vest !

TonyUK · #9 07-26-2005, 09:30 PM

flexible · #10 07-26-2005, 09:30 PM

Quote:

Originally Posted by punkyg

Shocking.....simply shocking!! There is actually some logic still in TG.

Don't forget, folks. punkyg continues to insist that FLO wasn't a scam. Where's your logic, punkyg/middiemmod/chicosan/Lennie?