Thread: The Trial Begins

Taken from Frode's blog:

It's been awhile since my last update, and since no breaking news has been released, there have not been much to inform about.

Now its only a few weeks to the Hearings start in the Norwegian courts.
And below i will informa on some facts on what is going on.

Start & End
The Hearings are scheduled to start the 29th of October 09.00.
Hearings are scheduled to go on for 6 weeks, and hearings will run every weekday
from 09.00 to 16.00

Charges:

There have been many versions out there stating the charges.
This is the official charges as of today.

11 People are charged for breaking the Lottery Act in Norway.

Authorities claim Plexpay were a Pyramid Scheme and did not sell Products & Services.
We claim this is wrong, as we in fact DID sell products & Services.

Authorities claim GPS had not invested money to be able to provide our ROL.
We claim this is wrong as the company in fact had placed large amounts in several types of investments, bot HIGH, MEDIUM & LOW RISK. All documentation regarding this will be presented.

Lawyers

There are currently 12 lawyers working on the case.

Authorities Goals


1. The first goal of the authorities is to seize all funds/investments/valuables in the system, including all members funds and all the charged people's valuables.
These funds is to be confiscated on behalf of the State of Norway.

2. The second goal of the authorities is to get all charged people convicted for breaking the lottery act.


Information During the case.

I will not publish any updates during the case on these pages, but will post a larger comment on the result when the hearings is over.
Beeing good or bad.

I personally thank all members during this difficult time for the support, help and suggestions. All these things have helped me to keep my focus and strenght to continue the fight.
Lets all put our positive thoughts to the case during the next two months.

Until the next time...

Kind Regards
Frode

Dear All,

Please see below some information supplied by a Norwegian contact of mine which has been taken from information in the Norwegian press.

It is not an official statement of any sort, just my contacts translation of the facts so far presented. I have his permission to publish here and will update when he has anything else to add.
It makes some surprisingly interesting reading:.....

*************
The trial has finally started and the newspaper writes about what’s going on every day. So the first 3 days has given us a lot of information and more will probably come every day the trial is running. I have read it and done some conclusions of my own based on the facts presented in these articles and facts presented in the articles that came in the end of last year.

The articles that are published now tells us that 32 mill NOK (5,732 mill USD) are frozen in Selbu Bank in Norway. Another 1 mill USD is frozen in Loyal Bank and there where investments made for 15 mill USD. Those investments were made in the summer of 2005.Frode claims that before those investments where made the GPS invested in Private Investment Profit System (Pips), how much that was is not printed in the article.

For those of you that don´t know PIPS, it was an investment company very similar to GPS. It was based on private loans to the company and the company paid a daily interest at 2 % a day with compounding. I think this company was running for about 3 year before it´s assets was frozen by the Malaysian government. The leader Brian Marsden is being charged for engaging in money laundering by receiving money which are proceeds from unlawful activities, an offence under section 4(1) of Anti-Money Laundering Act 2001 read together with section 87(1) of the same Act. If you want to know more about this trial you can go to http://www.bnm.gov.my and look for information regarding PureInvester.com (PIPS).

Remember that PIPS is charge for Money Laundering and it´s account is frozen, so the money is still there. The thing they did wrong was not to demand
identification documents and source of founds documents of member when joining. After the trial against them is over, probably in December, there are a lot of money that should go back to it´s right full owner.

Let just look at the fact that has been given us from the police threw newspapers:
80 mill NOK (14 332 000 USD) was going in the system from members.
30 mill NOK (5 374 000 USD) of those are frozen in Selbu Bank.
So only 50 mill NOK (8 958 000 USD) of the members money was ever invested.

According to Frode they started investing in PIPS and the amount there is unknown today, because the news didn’t print it.

In the summer of 2005, according to the police, Plexpay invested 15 mill USD, 76 955 000 NOK, in other investments, probably because PIPS access was frozen and they couldn’t get to their invested money.

On top of this, according to the police inspector Kjell Erik Waclawczyk, 150 000 000 NOK (26 873 000 USD) was paid out to members and he couldn’t answerer where the extra 100 mill NOK came from. (Ti siktet etter ny Plexpay-razzia)

Plexpay network started in may 2004, but it was first in December 2004 that they stared GPS. Before it was just the basic products that all of us gold or platinum members received, an account at Loyal Bank, our business site in Plexpay which gave us the ability to make money by telling other people about it and the wonderful Priority Travel package.

So from December 2004 to September 2005 Plexpay turned 50 mill NOK in to 226 955 000 NOK and this is without counting the investments that were made in PIPS. That is 453.91% in less than a year.

According to the DA Plexpays members had on their account 600 mill NOK and he wonder where this money is. YES, they are short about 370 mill NOK, but that is because money is frozen in PIPS, because PIPS accepted a small portion of money that came from illegal activities. The rest of the frozen money in PIPS, that didn’t come from illegal activities, will be returned when that trial is over.

But the 600 mill that we, the members of Plexpay, “should” have in the system are frozen. We could only “take out” the daily interest during the period that we lend our money to plexpay, so we couldent all demand all 600 mill at the same time. And if an investment company makes an investment that goes wrong, they try to “correct” this with other investments. And remember that it was only up to 3% daily that was promised. I think 453.91% on the money I invested is acceptable, don’t you?

This is just my thoughts about the facts that are presented to us so far. I will continue to fallow the trial, but I will not translate any article from Norwegian to English. I simply don´t have the time.

It seems there was nothing reported in the Norwegian newspapers last week.

Will post when I get something new.

Another translation from a newspaper from my contact:-

This article was published nov 15th..
http://www.adressa.no/nyheter/okonomi/article979147.ece

Promised money for information

One of the Plexpay defendants told the court yesterday that the police had tried to bribe a person in the network to inform against him.

The person that had invested 10 000 USD in Plexpay Network, was called by the police in Trondheim while he was on a vacation in Thailand around Christmas for two years ago.
The accused person from Plexpays mangement talks about this incident, while he was presenting he case in court yesterday. Together whith egiht othere people are he charged for breaking the lottery law. The defendant said that this man, who is a friend of his, had told him what was said in the phone call:

Police: - You have invested 10 000 USD, as it looks and they are gone. Mr X has disappeared with the money. If you give us information about Mr X, then we shall make sour you get your money back.

The Friend: - What kind of information?

Police: - What he has bought, like cars, boats and other stuff.


Seizure

The defendant also said in court that the police officer, who had called, had information that only the police could know about, because to have this information you would haft to have access to Plexpay Networks database. The Police confiscated Plexpays computer equipment when the company was raided in the fall of 2005. They also seized 32 million NOK that was at the company’s bank account in Selbu Sparebank. Jørn Erik Ødegaard from Økokrim (Økokrim = economic crime division) said in court yesterday that he had confirmed the story from the defendants friend.

-I have talk with the police in Trondheim about this incident and no one was at work this day. No one can give offers or threaten from the Police. Other people can have said that they were calling from the Police, says Ødegaard.

He also says that there have been threats against the accused in this case. Main defendant Frode Jörgensen received a security alarm for the police after receiving death threats from persons that had broken an entry at Frodes home address. Ødegaard has also apologized for the phonecall to the defendents friend.

- I apologize on the behalf of the police, assuming that it was the police that made this call, says Ødegaard

Yesterday was the last day with the defendant’s defense in this court proceedings third week. Eleven leaders and members of Plexpay Network are accused for pyramid scheme.

Thank you Investor!

Originally Posted by Carlamander

Thank you Investor!

You're welcome.

As and when I get more reports, I will post them here.

Posted by Frode in his blog:

The court hearings is almost over, and soon the verdict will be published.
Hearings will be finished the 7th of December, and the verdict will be published the 21st of december. 11.00

This have without doubt, been the hardest fight of my life, and soon it hopefully will be over, depending of the result of course.

So far things have been going good in the courts, in regards of evidence etc.
We have explained the business model, talked about investments, returns, funds and other things related to Plexpay.

The big challenge has been to remember everything after so many years, but amazingly things become clear again once the hearings started.

Many Norwegian members have been called in to the whitness stand, just to know that they also are suspects in this huge case. This proves for me that what was claimed in the start, was lies. I remember the media wrote "If you want your money back, you have to press charges against plexpay."
Those that did, now look like "dummies" called in to court hearings as whitnesses, and leaving the court as suspects, to be charged in the next round, that is IF we lose the case.

Still there have not been anything proven in the courts, saying we actually have broken the Lottery Law in Norway, or that we were a Pyramid scheme... I wonder why....since we never were one of those, its hard to prove i guess.
The whole case is a big mess.
Everything is mixed together, twisted and turned to make it look suspicious, but after some hours of discussions, it turnes out it had a totally different meaning.

Well, anyhow thats my opinion, i know the Norwegian DA has a totally different one, but then again he has no clue whatsoever on how Plexpay really operated, or on what Plexpay really was. Only the members involved knows this.

It has all come to "i believe", "what if" and "mabe" and is all a game of words, translation and meaning of phrases.

Some good news will anyhow be posted next Friday, and these news may make some of you happy.

I will come with a full update the 21st of December.

Until next time...

Frode

From Frode:.....

Finally the Trial is over.

Now the final waiting period until the 21st of December have started.
I promised you all some good news, on Friday, and im sorry for the short delay.

Personally i feel that we have a strong case, and that we all will land on our feets after this. But again, the verdict will be public the 21st of December, so nothing is certain yet.

Here is the good news i mentioned earlier.

LOYAL BANK ACCOUNTS

The Norwegian Goverment have realized thet they cannot confiscate funds in all the members personal Loyal Bank accounts, due to different jurisdictions. This means that the accounts WILL be opened again.

Since there has never been any charges against the company, Loyal Bank can no longer keep the accounts blocked, and MUST open them again. Our lawyer are working on this as we speak.

Hopefuly all Loyal Bank accounts will be opened again by Christmas.

All members with Loyal Bank accounts will get contacted (through e-mails on file) by the lawyers. I DO NOT KNOW WHEN THIS E-MAIL WILL BE SENT!!

THE NORWEGIAN ACCOUNTS

At this point i cannot inform anything regarding these accounts. They are still blocked, and we do not know what happens here until the 21st of December.

I will keep you all informed through my blog, so stay tuned.
Next update will be the 21st of december.

Until the next time

Frode

Dear all.

It is with sadness i inform you that the case was lost in Trondheim, this first round.
However it was not completely lost, as 2 of the people charged was found innocent.

In my case i got convicted and was sentenced to 2 years and 6 months in prison.
I filed for an appeal immediately, so the case is not over yet.

Im still a bit chocked, but most of all im sad.

I wanna wish you all a good christmas.

There is much to tell, but i have to read the full conviction first and talk to my lawyers to fully understand the full meaning of everything.
After all there is also some good news besides to all the bad news regarding the owners, who all got convicted. But the company is not charged for anything, neither it was not convicted for anything.

This has meaning both in regards of Loyal Bank Accounts, and also The Norwegian Bank accounts.

So until i know more, have a happy holidays.

Until Next time...

Kind Regards

Frode