Thread: PPN Can't access? Disquieting news about Plexpay

After talking with Frode at length several times over the past couple weeks he tells me
that there are,

No further pending hearings for court.

He attended over 12 hearings and no formal charges have been laid or any court date set.

Over the 12 or so hearings the Police lost ground in their efforts to prove the case.

The Police failed to prove that Frode committed the crimes they accused him of.
(fraud and misappropriation of funds)

The Police so far have failed to prove their case. The only contact he has had from Police
recently is by email asking the same few questions a different way.
( can you prove you could actually pay the rates of return indicated ? )

Plexpay still have funds currently frozen wether the bank gives iterest during this time who knows.

The Police are now out of time to prove their case.

The Police have resorted to calling some members and asking if they would be prepared
to press charges.

The situation is politically motivated through several levels of government owing to the
very public collapse of many programs over the last three years. More recently the Tax
dept has decided to go after individuals that were involved in WorldGamesInc. After
acquiring WGI set of accounts for unpaid taxes.

The Govt must see this whole area as something that needs to be eliminated.
The scale of misconduct and loss on money (Billions of NOK) by participants and unpaid
taxes is something that the govt is high embarrassed over.

Oh and Frode being arrested several years ago for participating in an money game would
make him a high profile target being a big player in the now failed PIPS and several other
programs would have had him on the Govt radar 7 days a week I would assume.

All in all after speaking and dealing with Frode I will concede that from his side there are
mitigating circumstances in relation to the situation.

We did agree with the benefit of hind site the were several oversights and assumptions
that would never be repeated. The main one being that they absolutely thought they were
doing things by the book based upon their legal advice and the fact that they did have legitimate
investments and plans for much more. .

The Police must prove their case and lay formal charges. So far they have failed and are now
trying to flush out some members to do the dirty work for them.

One thing I have not been able to establish even after many emails and phone calls
(never answered or returned) Left at the Police station is that how long can the Police legally
keep this charade going ?

They are really struggling to make the case stick now. As the major accusations against him
have failed to be proven.

Just think of it 100’s of Millions of nok sitting in bank accounts and investment accounts.

I ask you this lets say the Police somehow prove the case just what happens to the money?

After seeing the show the police have put on so far I hardly think they could organise any return
of funds to individuals. Neither could liquidators as the Liquidator would typically erode the funds
by 50% - 70% in fees.

To me the original alleged crime is dwarfed by post crimes committed by the regulators.

Very good, but why have PlexPay made no attempt to update the members themselves?

Originally Posted by investor

Very good, but why have PlexPay made no attempt to update the members themselves?

I asked Frode the same question and he doesnt hear from them either.

Thats a good update. cheerz

Again, I think old posts like this should be deleted. May I propose that time markers might be palced in posts that enter automatically, so that everyone is aware of the age of the posts. This way, newcomers to the forum do not think that some of these old posts are current and they reply unnecessarily to outdated discussion topics.

peterben

In today's (18 August 2006) edition of Dagbladet, one of the major newspapers in Norway, there was a 3 1/2 page article on the various pyramid schemes that have plagued Norway, with the heading "Nå skal de lokke oss utpå igjen" ("Now they want to fool us again")

A major part of the article discussed the attempt by Tor Anders Petterøe (former vacuum cleaner salesman and WGI* "World Leader", charged with gross tax evasion for not reporting all his WGI earnings) and Quentin George (former WGI Vice Precident, has a standing Canada-wide arrest warrant against him, because of illegal pyramid activities related to WGI) to start the WGI clone Nova Lusus.
Their partners in this pyramid scheme, former WGI IT Vice Precident Gary Allardyce, and Norwegian former WGI top earner Harald Ekker, were also mentioned.

The article also discussed the pyramid-style schemes WGI, Aspiritus, Towah, Scandinavian Networking Group / Nature's Own, T5PC** and former T5PC boss Jim Wolden's recently collapsed Global Wealth Management (he absconded without paying a 17 000 $ invoice for software development), Plexpay, and PowerTeamGlobal.

In the paragraphs concerning Plexpay, leading attorney of the financial crimes unit of Sør-Trøndelag Police District, Kjell Erik Waclawczyk, stated that the Plexpay scheme is still under police investigation, and that 5 persons have been charged with pyramid related financial crimes.
Waclawczyk also stated: "The company was nowhere close to generating the profits that had been promised to investors. It had no identifiable income, except for the money paid in by the investors."


At this time, the article has only been published in the paper edition of the Dagbladet newspaper; It has not yet appeared in the internet edition of Dagbladet ( Dagbladet.no (Dagbladet.no) )

The names of the 5 persons charged with offences related to Plexpay , were not given in the article.
However, from earlier arlicles in the newspaper Adresseavisen, it is known that Plexpay President Frode Jørgensen and Plexpay Marketing VP Jarle Johansen have been charged with gross fraud.


* WGI: World Games Incorporated; A large pyramid scheme run by the Australian fraudster Gregory James (Greg) Kennedy. Had around 450 000 members at its peak, approximately half of them in Norway. Main activities were pyramid recruitment, gambling and a Ponzi-style "Stock Market Game" in which "virtual" (i.e. worthless) "shares" were sold for real money. Posed as a "gaming site marketed by MLM" in a rather futile attempt to avoid prosecution. The company running WGI, several WGI recruiters, and chairman Greg Kennedy have been convicted of operating or promoting an illegal pyramid scheme by courts in Sweden, Australia, Canada and Finland.
Collapsed financially and stopped paying out in August 2004, was shut down by its owners in April 2005, and immediately re-appeared under the new name "Aspiritus". Officially, members were told that the WGI business had been "bought by Aspiritus", but WGI chairman Greg Kennedy owns more than 50% of Aspiritus, he is still Chairman of Aspiritus, and the activities are basically the same.
WGI's debts to its members were converted to worthless "units" in Aspiritus, in an attempt to hold on to the members.
Aspiritus has been on the decline since the spring/early summer of 2005, and there are now probably less than 3000 active members left.

** T5PC: "The 5% Community" was a Norwegian-run pyramid (officially MLM) company which operated for about 1 1/2 years and went bankrupt in December 2004, after the auditors had refused to approve the accounts/financial statement . It had around 70 000 members, mainly in Norway, and took in large sums from pyramid entry fees and sales of highly overpriced shares. The money was then syphoned off to the bank accounts of the scheme bosses or to companies run by these bosses. 10 of the bosses have been charged with fraud, embezzlement and other financial crimes by Norwegian police. 4 of these bosses have recently been indicted by the public prosecutor, and further indictments are expected. The top dog, Jim Alexander Wolden, was already serving a prison sentence for other frauds and tax evasion when T5PC went bankrupt.

Posative news out of Norway, that Frodes lawyers have put it to the Police to drop the case, the Police response was they just may well do that as all the original charges have been dropped and they are hard pressed to manufacture any new charges. Could be a nice Xmas for those that have Loyal bank accounts because they may be the first accounts to be released.

Thanks for a good news.

pintree

Originally Posted by MegaPlex

Posative news out of Norway, that Frodes lawyers have put it to the Police to drop the case, the Police response was they just may well do that as all the original charges have been dropped and they are hard pressed to manufacture any new charges. Could be a nice Xmas for those that have Loyal bank accounts because they may be the first accounts to be released.

Good to hear, although as their money has been frozen all this time guess we'd be back to square one as no money will have been earnt. But it's better than seeing it go same way as pips and gins.....