Thread: Does anyone have a concise description of what happened to P*Ps?

I've searched the forum on several occasions, but have not been able to find out what is going on with P*Ps. I know that there has been some kind of legal action that has resulted in the web sites being taken down, but beyond that, I've found little.

Perhaps one of the admins for this site or someone who is in touch with Brian could post a sticky thread or announcement that describes what has happened to date, what we may be able to hope for in the future, and any kind of a possible time table for resolution of the current problems. I think that would go a long way toward solidifying member support by the many that are perhaps lurking and reading, but not posting on the forums.

Just an idea.
RWW

What I know is that, on august 15, Bank Negara Malaysia seized the servers at the PIPS office for investigation. The investigation was started due to some people sending complaints to BNM. Currently we don't know how long it will take and what happens afterwards depends on the result of the investigation.

Originally Posted by rwwood

I've searched the forum on several occasions, but have not been able to find out what is going on with P*Ps. I know that there has been some kind of legal action that has resulted in the web sites being taken down, but beyond that, I've found little.

Perhaps one of the admins for this site or someone who is in touch with Brian could post a sticky thread or announcement that describes what has happened to date, what we may be able to hope for in the future, and any kind of a possible time table for resolution of the current problems. I think that would go a long way toward solidifying member support by the many that are perhaps lurking and reading, but not posting on the forums.

Just an idea.
RWW

PIPS was shut down for an investigation by the BNM (Central Bank of My) due to complaints that were submitted. The BNM is a part of the MY government with full authority to freeze bank accounts during an investigation. This was done in mid Aug. 2005. They took the servers to allow them access to all data necessary for the investigation.

At the present time we do not have a date that PIPS will be back up. However there are several messages from Bryan that indicate not to look for anything this year and that it will be after the first of 2006. Bryan has stated that members will get their money. He has also stated that PIPS will return but will be restructured. He stated that the restructuring was almost completed when the BNM came in.

I feel PIPS will come back better and stronger than it was before and that it is just a matter of time.

Originally Posted by scubadiver

I feel PIPS will come back better and stronger than it was before and that it is just a matter of time.

I agree.
As we say "what doesn't kill you only makes you stronger".