Originally Posted by
severin
NÃ¥ har jeg lest den selv. Her er mailen. Stygg lesning :
>>Subject: Mail ifra Warren vedrørende P-Systems!
>>Date: Mon, 1 Aug 2005 13:14:04 +0200
>>
>>From Warren Webb:
>>
>>
>> Subject: P-Systems info for you...
>>
>>
>>
>> Hello All,
>>
>>
>>
>> It is with a heavy heart, that I have to announce that I have resigned
>>from P-Systems yesterday, effective
>>
>> immediately.
>>
>>As many of you know, Gary Nichol, the General Manager has also resigned
>>and will be
>>
>>leaving tomorrow (Saturday).
>>
>>
>>
>>As all of you are aware I have been a staunch supporter and have always
>>advocated and encouraged
>>
>>support for the Program and for BM.
>>
>>I have now concluded that my faith in BM and Sharon Marsden, has been
>>misplaced.
>>
>>
>>
>>I have been at pains, wanting to report regular updates to you as I know
>>that many of you have been
>>
>>waiting very patiently to hear from me and I also know that many of you
>>took great heart (as I did) by
>>
>>my appointment to the Trust Manager's position.
>>
>>Unfortunately, for the last 2 months, I have been unable to find anything
>>good to report.
>>
>>
>>
>>During my short time with P-Systems, I have encountered a fundamental
>>difference of opinion with the decisions
>>
>>taken by BM and Sharon.
>>
>>The direction they have taken the program is a one way road to disaster.
>>
>>The management decisions nothing short of mystifying and dumbfounding.
>>
>>
>>
>>During my stay at P-Systems, I have continuously pushed for one thing.. that
>>the business of P-Systems is to pay
>>
>>returns to members and that there is no higher priority or indeed should
>>be no OTHER priority than that.
>>
>>My urgings have fallen on deaf ears, as indeed has most of the advice and
>>counsel that I have attempted to give BM and Sharon.
>>
>>
>>
>>At the present time, there are two payment platforms available to pay
>>money to members, but these are not
>>
>>being funded. Instead, whatever money is available is being poured into
>>the financial dinosaur called P-Systems Fashions, which seems to enjoy a
>>virtually
>>
>>unlimited budget to fund its financially burdensome projects.
>>
>>P-Systems Fashions was ill conceived in the beginning and needs to be killed
>>off as quickly as possible.
>>
>>It is an unmitigated disaster and one can only wonder what might have been
>>if that money had been invested wisely into programs that we all
>>
>>believed were in place. Money has also been poured into the purchase of
>>more derelict vacant real estate in the commercial Ghost town called
>>Nilai.
>>
>>BM and Sharon are spending freely on the construction of new
>>restaurants (3 of them) with plans for at least three more to commence in
>>the
>>
>>immediate future and many others after that, all of which will become
>>further liabilities as even the Bistro continues to be.
>>
>>I understand that they have purchased approximately 15 commercial
>>property lots and 3 houses and that the plans are to continue to acquire
>>more of this same real estate.
>>
>>While this is going on members continue to wait, perplexed, angry and
>>frustrated as I am, why they are being passed over, while Sharon and BM
>>continue to amass a personal fortune.
>>
>>
>>
>>This money should have been placed in investments for the benefit of
>>members. The real estate should be sold immediately.
>>
>>All restaurants and businesses closed down.
>>
>>They are all liabilities and draining available funds.
>>
>>Efforts should be concentrated on the Bistro and getting the franchising
>>operations completed.
>>
>>One thing at a time please BM or at least get one business in profit
>>before embarking on
>>
>> more of the same.
>>
>>(Did I mention someone should kill P-Systems Fashions.
>>
>>That and the obsession with new restaurants has become the scourge of the
>>program).
>>
>>Million of dollars has been diverted from what could have been very
>>valuable investments for members as
>>
>>was wanted by Gary. Let's get back to investing funds for members and
>>paying returns, whatever they are.
>>
>>
>>
>>When pressed for any answers, BM simply says that these restaurants are
>>a 'different part of P-Systems', which I take to mean, has nothing to do with
>>members.
>>
>>
>>
>>I have become increasingly concerned at what I regard to be Bizarre
>>decisions being taken by both BM and Sharon and their seemingly total
>>disregard for members suffering and anxiety.
>>
>>Sharon is an integral part of the company.
>>
>>She is not in the background as many think.
>>
>>She is a very active director and officer of P-Systems group of companies with
>>
>>daily involvement and she exerts great influence and forceful viewpoints
>>on the operation and direction of the program.
>>
>>I could not condone my misgivings any longer and after expressing my views
>>forthrightly to BM, I left the offices of P-Systems yesterday morning.
>>
>>
>>
>>It is my belief that the program is suffering fatal problems from which it
>>cannot recover. I cannot find any evidence of any viable or relevant
>>business or investment strategy that would have any prospect of
>>
>>returning anything of significance to members; far less 2%. There is no
>>transparency, everything is hidden even from Gary and there is no evidence
>>of the most basic accounting procedures or corporate
>>
>>procedures. BM's 'Genie in the bottle' is dead, not that it ever
>>existed. There is also no evidence of any investments in the last 18
>>months that have been in place that would be of any benefit to
>>
>>members, with the possible exception of P-Systems Premiere, which is still some
>>considerable time away from producing any meaningful returns for members.
>>
>>BM has repeatedly told us all in public meetings that investments are
>>in place earning much more than the 2% he pays to us. This appears to be
>>an 'error'.
>>
>>
>>
>>From the first day I arrived at P-Systems, I recognised the problems caused by
>>poor decisions and gross mismanagement. It was my belief that those
>>problems could be solved. It would require huge changes, an
>>
>>abandonment of the 2% return (which was never going to be possible from
>>day one), a freezing of accounts and closure of the program to any new
>>members, until a proper budget and accounting could be prepared.
>>
>>I gave BM repeated reports, memos and advices setting out what I
>>believed was necessary to solve the problems.
>>
>>Unfortunately, none of my advices on matters of substance were accepted.
>>
>>To be fair to BM, he never asked for my opinion or any advice and I
>>was told on a number of occasions that this
>>
>>was not what I was employed to do and to return to my little sandbox and
>>play with the toys that I was given.
>>
>>
>>
>>P-Systems has amongst its membership a very capable corporate 'trouble shooter'
>>from Great Britain, whom was known to BM and myself. I was instructed
>>to bring this man to Malaysia to help sort out the
>>
>>problems of the program and to assist in it's restructure.
>>
>>That alone gave me great heart that things might be about to improve.
>>
>>Since arriving, BM has stone-walled him refusing to provide this very
>>valuable professional with even the most basic company documents or any
>>relevant information (which it appears does not exist). When asked about
>>cash flow, this man was told it was all in his (BM's) and Sharon's
>>head. This of course presents as a total absurdity to professional people
>>like myself and the corporate wizard.
>>
>>There appears to be no accounts at all in relation to the program,
>>corporate governance, legal and regulatory compliance is completely
>>ignored and it is little wonder we find ourselves in financial and
>>regulatory crisis.
>>
>>There are currently 6 Cease & Desist orders filed against the program from
>>Securities regulators.
>>
>>5 in the U.S. States and One in the Netherlands and many more are being
>>processed.
>>
>>We are all aware that ASIC is on the hunt as well, probably with just
>>cause. Little or nothing has been done in relation to these orders,
>>despite my urgent advices.
>>
>>The Orders officially label the P-Systems program a 'Ponzi' scheme and I can
>>find no evidence to dispute this except a Ponzi scheme pays money to
>>members from Deposits.
>>
>>In this case, most of the deposits seem to go to fund 'other things' and
>>members are left in the cold, again against my urgent advices.
>>
>>
>>
>>I am concerned that attempts may be made to reverse all P-Systems payments
>>and that the closure of P-Systems is on the agenda.
>>
>>It is also my opinion that any attempt to do so is illegal.
>>
>>Once the money is paid into P-Systems, it is the member's money and P-Systems is
>>like a bank holding money in your account.
>>
>>The money cannot be touched without your authority.
>>
>>Anyone with money in P-Systems should immediately take a copy of their
>>account profile.
>>
>>P-Systems is a company registered in Malaysia and as such is responsible to
>>
>> follow Malaysian law which is of substance.
>>
>>BM and Sharon will be accountable for any irregularities in relation to
>>your account or the running of P-Systems. P-Systems has a contractual obligation
>>to pay your money to you.
>>
>>
>>
>>It is my belief that the recent reversal of merchant and member accounts
>>in P-Systems represents unlawful conduct.
>>
>>(I was not aware of this action until very recently).
>>
>>I have advised BM and the relevant staff of their legal obligations.
>>
>>I advise every member to protect themselves by taking copies of their
>>P-Systems and P-Systems accounts and to make the strongest objection to any
>>unauthorised interference in relation to those accounts.
>>
>>
>>
>>I can attest that Gary Nichol is not involved in any dishonesty or
>>unpleasantness. He is very despondent about the total disregard for
>>members exhibited by BM and Sharon and that is not the least of his
>>
>> reasons for leaving P-Systems.
>>
>>His concern and commitment to members is as fierce as ever and he and I
>>shall continue to do what we can to ensure members are compensated as best
>>as possible.
>>
>>There are still some things that we can achieve and we shall continue to
>>press for some change of heart and direction from BM and Sharon. Indeed
>>I hope this
>>
>>post will have a 'sobering effect' and present possibility for
>>reassessment. Even knowing all that I do, I still have trouble classifying
>>BM as a 'bad' person.
>>
>>He is extremely intelligent and has many fine qualities. I believe he is
>>somewhat misguided and that he has lost his way.
>>
>>I truly hope that this report will serve to give him reason for self
>>analysis and to bring about necessary changes.
>>
>>I believe he is capable of doing so, if he was to accept the right advice
>>and counsel.
>>
>>
>>
>>There is so much more to tell, but I think you get the gist of my
>>findings.
>>
>>To say I'm devastated would be an understatement.
>>
>>I went to Malaysia to become part of something sensational, instead I
>>arrived to find myself in the middle of a Ponzi scam in its death throes.
>>
>>
>>
>>BM told me yesterday he has something up his sleeve.
>>
>>I'm past listening to repeated promises and chasing the forever 'dangling
>>carrot', but for all the members' sake, I hope it is something good.
>>
>>It cannot save the program, but it will hopefully save people from losing
>>money.
>>
>>I do believe BM has a desire and a commitment to at least paying people
>>to the extent that they will be refunded their money if not managing some
>>profit.
>>
>>
>>
>>Regardless of the outcome, I am grateful to BM for a number of things.
>>
>>Through P-Systems I have made so many good friends and come across many things
>>that I would not have ever seen or encountered.
>>
>>I am now on the threshold of something rather momentous and awe inspiring,
>>as a direct result of the contacts I have made through this program.
>>
>>I have had a holiday with luxury, the likes of which I've never
>>experienced before and enjoyed living a dream called hope.
>>
>>The dream may be somewhat in tatters, but there is much to reflect upon
>>and to be thankful for.
>>
>>BM gave us so much and I invite members, during the period of despair
>>and disappointment to have some regard to the good things and to at least
>>bring some balance
>>
>>into the argument.