Thread: PLEXPAYinfo from Norwegian news.

http://www.adressa.no/nyheter/sortro...icle574427.ece

According to above newspaper;
Frode continues to stay in jail, now also under suspision of fraud.
No members has so far filed any complaints
Investigators will look more closesly into Plexpay and start questioning more Plexpay-staffs.

/Picabooo

Originally Posted by picabooo

http://www.adressa.no/nyheter/sortro...icle574427.ece

According to above newspaper;
Frode continues to stay in jail, now also under suspision of fraud.
No members has so far filed any complaints
Investigators will look more closesly into Plexpay and start questioning more Plexpay-staffs.

/Picabooo

They will also contact members, vitnesses and people of other interests as stated in the news. They are also stating a warning that they belive more people will be arrested in conjuction to this case.

I have been thinking a little bit, as he is suspected of stealing more than 18 mill NKR from clients accounts, and he has 16,000 members/investors in PP. (16000 members) x (800 USD sigupfee) = more than 80 mill NKR
If there is real trading ongoing, then I might belive in his trustworthy, but if not, I will say this is lame. I was going to invest in PP that day servers went down. Now I will wait and see

Folks, also keep in mind: Plexpay were about to convert to Euros. Probably most of their own accounts are already in Euros. The US can only control USD.

When, in May, the SEC charged the owner of CEC (based in Nevis) and a local promoter in the US (who was having meetings against Company policy). The 'first' thing they did was the US Treasury froze the USD in the Latvian banks they were using in late April.

A week later, the SEC made the charges in the US, after they had control of the funds.

The US can do what it likes with the USD. Interesting that these charges against Frode happened just weeks from the program's switch to Euros, isn't it?

Yes Folks, they ( the board members and new CEO) are trying and doing their best, however, there is also this question of meeting up with lawyeres and at Trondheim Police Hq.

This is no BoN action, much tougher situation here in a way. The only light is that not all funds are frozen.

Remember; NO Plex member did ever complain to the Norwegian authorities. (as some would like you to believe..........)

It was only Selbu Sparebank that found Frode´s huge money transfer and his sudden ownership of a very expensive car (by Norwegian standards) suspicious (remember also that Selbu is just an tiny village).

This is an case against an individual suspected of embezzlement, fraud and tax evation, considerated an very serious crime here in Norway.

The firm Plexpay is drawn into the investigation as it was quickly found out that the funds originated from there or from individuals who thought they were depositing funds into Plex account´s, but in some instances the funds landed in Frode´s personal account !

More news will be awailable early next week. This week is mostly for inevstigation and decission if anyone will be charged or not.

B

Has anyone heard anymore about plexpay. I believe it is a viable program and it had many investors. Pips is also a very good program as well as Gins. If there is any POSITIVE information I would appreciate hearing about. The negative anyone can post. There is a saying accentuate the positive and eliminate the negative.

Originally Posted by labjr

Has anyone heard anymore about plexpay. I believe it is a viable program and it had many investors. Pips is also a very good program as well as Gins. If there is any POSITIVE information I would appreciate hearing about. The negative anyone can post. There is a saying accentuate the positive and eliminate the negative.

A good thing is GPS, the investment company is not own by Frode He was CEO of Plexpay, one of the companies owned by Evolve Trading. A negative factor is that Frode was a chef and not a financial expert to deal with a large amount of funds. At least, he is not like Bryan who has a good track record in handling investment funds of lare scale.

I was under the impression that the new CEO was just a temporary solution. With the latest news on the papers it seams like Frode is fired for good.

Anyone been in contact with Plexpay today and can confirm or deny this?

http://www.adressa.no/nyheter/trondh...icle574756.ece

Originally Posted by picabooo

I was under the impression that the new CEO was just a temporary solution. With the latest news on the papers it seams like Frode is fired for good.
Anyone been in contact with Plexpay today and can confirm or deny this?
http://www.adressa.no/nyheter/trondh...icle574756.ece

Man this drama is even more so than Pips!

Originally Posted by Forum Moderator

BN is getting request from Iowa to seize PIPS funds? Where did you see that?

Yeah the C & D order just stated the amount of the fines but that does not mean they can get it .... yet. It will be interesting. Bryan at least started restructuring that will look good as he was attempting a change. It would still have to be some sort of order and the Malaysian authorities would have to accept it. But would it come solely from from Picpay since it is Malaysian based? Who knows... But as far as I know that hasnt happened yet unless you have heard otherwise?
But all I know pulling all your funds and putting it all in Picpay may have not been a very good idea.

Originally Posted by solhov

23.09.05 Warning from the US


Warning from the US
In August the office of the Kansas Securities Commissioner warned against the 33 year old Norwegian.
Tekst: CHRISTER S. JOHNSEN

.

This "US securities" crap is a joke.

The US has no jurisdiction over plexpay or pips and is a laughing stock for making these orders in Kansas which has no jurisdiction even in other states.

What a joke.

Typical US bureaucratic hype, which has no say over anyone but themselves.

This is all the US revenue service, trying to stop honest people from making a profit, which by the way, they cannot tax.

Why can't they tax it? CAUSE THEY HAVE NO JURIDICTION!