Thread: Updates on BM & PIPS Refund, Claims & Payouts

Originally Posted by Gaz

Hi Yogi

This may be of interest to those who are still interested in the progress of the court.

A good friend of mine put in a claim around October 2010 for approx $30,000 (actual investment money)

Message:

.... the authorities do not know how to deal with this case. As it is the first time a case like this has been presented in the Malaysian legal system

I just have to wait and see.

Thanks Gary, for sharing your exchange with another claimant named Ben.

Yes, it is an unprecedented case of this nature for Malaysia but since the Marsdens being caught with their fraud on a scale unfamiliar for that country, many have since been tried on a smaller scale, many fraud related with online scams like that of PIPs and to a larger extent similar to that by Bernard Madoff but were swiftly & summarily dealt with at lightning speed and ease.

However, I have no encouraging feedback regarding newer Claimants submitted after a specified date of late Autumn of previous year 2009 and whether the court will eventually honor those later attempts remains questionable as the dateline was released and made known in adequate time for all serious responses (supposedly) and by potential claimants.

And should they, the BNM for instance, who made painstaking efforts to limit further claims with obvious arguments presented defaulting on submission dates... that claim by Ben could pose a very weak attempt and possible chance let alone be successful to be added to the current approved list of Claimants who had timely presented their claim and not without months & several years of patient endurance.

YB.

Hello;
i am back to have a look at this thread after many many moons; and i see some posts about people having placed "claims" for their lost investment (PIPS).
Have i been missing out on anything?
can someone please let me know if/how/where i should place my claim?

Much appreciated,
Kamran A.

To all who ask how to make a claim:

Originally Posted by YogiBrood

Hi but I'm sorry to inform, it is not at all possible nor likely feasible to attempt any further with regards to the process now ongoing and reaching its final stages with the Courts and Authorities involved.

Just stay in the loop this time round, albeit in this ROLClub Forum or elsewhere on the Net with other forums that may or might indulge or initiate a separate case within the boundaries of other countries should Bryan Marsden be again held accountable. As for Malaysia and whatever is made available to all Claimants now legally recognized as accepted recipients for the returns of available funds that were once impounded by the Malaysian authorities, new claims submitted will only be a waste of time and esp. money wasted on Lawyers and or costly endurance involving time where no response is certainly guaranteed.... its like, falling on deaf ears if one plans to pursue at this late stage.

Just don't let the next opportunity slip past... many DID and were not taking it seriously resulting from a variety of circumstances involved.... but back then, it was like a mere joke even to think of attempting a pursuit to claim your money back... but the current Claimants were determined and they are at the point of seeing some of their money regained soon.


YB.

Hi every body,
I have been out of rolclub for so long? When Brian MArsden was released was computers and data servers also given back to him upon his release? I do remember when things got ruff that he told each and every one to stay calm as he had placed the capital in Australia silver assets etc,. Also that no one should be afraid of loosing money as the money was secured,(Panama)? He pointed out that if the money should be blocked for some years the total money would still grow? Where is he now, does any one know?
If the servers where not returned how could he ever contact anyone?

It was truely a dream that we had, that sadly just faded away!

Doc

Originally Posted by halsotriaden

Hi every body,
I have been out of rolclub for so long? When Brian MArsden was released was computers and data servers also given back to him upon his release? I do remember when things got ruff that he told each and every one to stay calm as he had placed the capital in Australia silver assets etc,. Also that no one should be afraid of loosing money as the money was secured,(Panama)? He pointed out that if the money should be blocked for some years the total money would still grow? Where is he now, does any one know?
If the servers where not returned how could he ever contact anyone?
It was truely a dream that we had, that sadly just faded away!
Doc

Hi Doc,

To be candidly safe in assuming what could possibly be the case is, when BM was released, all that was rightfully handed over was his personal belongings which included his British passport for his speediest exit out of Malaysia (which he wasted no time within days if not hours) to seized that opportunity and to presume the comfort he badly missed & need to catch up on, he sure will have to remember all those passwords etc let alone have considerations to willingly share the "loot" he stashed elsewhere to distribute about.... Not likely I'm afraid.

Your best bet is, despite all these years you still managed to remember and probably not willing to give it all up in contrast to many more who still are even more determined to be on the look out on any possible trace of Bryan Marsden popping up somewhere to give another shot....

So all I can say is, if patience is the only other virtue left that you can work on, is to browse ALL the sites actively profiting from HYIPs programmes for thats where Bryan will like to gather new "suckers" to his con plan yet again.

Perhaps also, you may jump onto a new lead by others hot on his trail... for he certainly won't be back on this forum... he's been bitten & jailed already but should he not repent his scamming escapade, you may have a better chance to meet up the snake that has so far eluded most ex Pipsters he scammed easily and many would still like to lay claim for every cent still available somewhere out there.... good luck to you too.

YB.

Originally Posted by YogiBrood

... for he certainly won't be back on this forum...

YB.

How do you know for sure that the Bryan Marsden is not back on this forum?
do you know the real identities of ALL those who post on this forum?

Originally Posted by The Mighty One

How do you know for sure that the Bryan Marsden is not back on this forum?
do you know the real identities of ALL those who post on this forum?

To be absolutely certain is a near impossibility however but that is a less significant consideration about member's true identity being signed up here in RC but should you be an ongoing supportive lieutenant longing to see him return and start off another "promising & potential" scheme... by all means, pave the way and yrself if I may also underscore....

I am sure there won't be a shortage of sign ups and many more ex-Pipsters who are dead bent with scoring high up at the 1st -Level who'd easily recognised how Bryan goes about and one thing for sure, you will have hordes in their thousands willing to catch up with settling other matters first & foremost.

Anyway, if ever he wishes to, let the show/program be enacted and let it then be decided by all who are equally curious and "bedevilled" to catch up with BM physical self... for seeing this time round is believing (perhaps with another Convention venue? ) and I won't exclude the involvement of more than one pair of handcuffs to make sure they don't lose sight of him until previous $$$s are accounted for.


YB.

I am sure there won't be a shortage of sign ups and many more ex-Pipsters who are dead bent with scoring high up at the 1st -Level who'd easily recognoised how Bryan goes about and one thing for sure, you will have hordes in their thousands willing to catch up with settling other matters first & foremost.

The whole fiasco is a disgrace. There are still some believers that claim pips was the real deal and BM was just in breach of regulations. Others think pips was an outright ponzi that met its inevitable end.The latter is correct,2% daily was not sustainable, especially when it was compounded.

Bank Negara shut pips down the quickest way possible and even that went at a snails pace. I am sure there were many more avenues they could have taken,but time was of the essence before more members cash was squandered. Unfortunately, they failed to address any of the issues to members satisfaction. Many questions remain unanswered. The gold in Australia,the dubious investment "portfolio" and the amount of cash they seized. Members have a right to this information and Bank Negara owe it to members to report the details of their investigation.

I was lucky to break about even, family and friends were not. Many lost thousands.

Money Laundering

Charged under: Anti-Money Laundering and Anti-Terrorism Financing Act 2001 : Section 4(1)

http://www.bnm.gov.my/microsites/fra...laundering.htm

Enforcement Action

Bank Negara Malaysia established the Special Investigations Unit (SIU) in 1986 to conduct surveillance and investigate illegal financial schemes. This Unit essentially conducts search and seizure operations, and interview of witnesses to gather pertinent information towards successful prosecution of offenders.

The Bank takes seriously of such criminal offences and those breaking the law will be investigated and prosecuted. The Bank will not hesitate to take action against any illegal perpetrators.

The Bank maintains close working relationships with the Attorney General's Chambers as well as with other enforcement agencies such as the Polis Diraja Malaysia, Companies Commission Malaysia, Cooperatives Commission of Malaysia, Securities Commission Malaysia, Malaysian Anti- Corruption Commission, the Royal Customs of Malaysia, Ministry of Domestic Trade, Co-operatives and Consumerism and CyberSecurity Malaysia (formerly known as National ICT Security and Emergency Response, NISER).

Click on the links below to view the companies and individuals that have been charged, prosecuted and convicted for various illegal financial activities under the laws governed by the Bank:

1.

Use of the word 'bank' or similar name without approval
Charged under: Banking and Financial Institutions Act 1989: Section 15(1)
2.

Receiving, taking or accepting deposits without valid license
Charged under: Banking and Financial Institutions Act 1989: Section 25(1)
3.

Advertisement for Illegal Deposit Taking
Charged under: Banking and Financial Institutions Act 1989: Section 27(A)
4.

Operating money changing business without valid license
Charged under: Money-Changing Act 1998: Section 4(1)
5.

Use of the word 'money changer' or similar name without approval
Charged under: Money-Changing Act 1998: Section 24(1)
6.

Exceeding holding limit of foreign currencies of RM250,000 equivalent
Charged under: Money-Changing Act 1998: Section 29(1)
7.

Furnishing false information
Charged under: Money-Changing Act 1998: Section 35(b)
8.

Dealings in foreign currency without permission of The Controller
Charged under: Exchange Control Act 1953 : Section 4(1)
9.

Dealings in foreign currency without permission of The Controller
Charged under: Exchange Control Act 1953 : Section 4(2)
10.

Dealings in foreign currency without permission of The Controller
Charged under: Exchange Control Act 1953 : Section 10(1)
11.

Dealing with Foreign Currency without permission of The Controller
Compounded for an offence under: Exchange Control Act 1953 : Section 10 (1)
12.

Money Laundering
Charged under: Anti-Money Laundering and Anti-Terrorism Financing Act 2001 : Section 4(1)


Members of the public are reminded not to place any monies or deposits with unlicensed institutions or be involved in any form of get-rich-quick schemes to avoid losing their hard-earned money. A list of institutions licensed under the laws administered by Bank Negara Malaysia to accept deposits is available on its website at www.bnm.gov.my.

Members of the public can also access information relating to illegal financial schemes and enforcement actions taken by Bank Negara Malaysia at the Financial Fraud Alert Site (http://fraudalert.bnm.gov.my).

For further enquiries and information relating to this, members of the public can contact Bank Negara Malaysia at the following:

Laman Informasi Nasihat dan Khidmat (BNMLINK)
(Walk-in Customer Service Centre)
Ground Floor, Block D
Jalan Dato' Onn
50480 Kuala Lumpur

Telephone:
BNMTELELINK : 1-300-88-5465 or
E-mail: [email protected]

Originally Posted by admin

money laundering

charged under: Anti-money laundering and anti-terrorism financing act 2001 : Section 4(1)

http://www.bnm.gov.my/microsites/fra...laundering.htm

enforcement action

bank negara malaysia established the special investigations unit (siu) in 1986 to conduct surveillance and investigate illegal financial schemes. This unit essentially conducts search and seizure operations, and interview of witnesses to gather pertinent information towards successful prosecution of offenders.

The bank takes seriously of such criminal offences and those breaking the law will be investigated and prosecuted. The bank will not hesitate to take action against any illegal perpetrators.

The bank maintains close working relationships with the attorney general's chambers as well as with other enforcement agencies such as the polis diraja malaysia, companies commission malaysia, cooperatives commission of malaysia, securities commission malaysia, malaysian anti- corruption commission, the royal customs of malaysia, ministry of domestic trade, co-operatives and consumerism and cybersecurity malaysia (formerly known as national ict security and emergency response, niser).

Click on the links below to view the companies and individuals that have been charged, prosecuted and convicted for various illegal financial activities under the laws governed by the bank:

1.

Use of the word 'bank' or similar name without approval
charged under: Banking and financial institutions act 1989: Section 15(1)
2.

Receiving, taking or accepting deposits without valid license
charged under: Banking and financial institutions act 1989: Section 25(1)
3.

Advertisement for illegal deposit taking
charged under: Banking and financial institutions act 1989: Section 27(a)
4.

Operating money changing business without valid license
charged under: Money-changing act 1998: Section 4(1)
5.

Use of the word 'money changer' or similar name without approval
charged under: Money-changing act 1998: Section 24(1)
6.

Exceeding holding limit of foreign currencies of rm250,000 equivalent
charged under: Money-changing act 1998: Section 29(1)
7.

Furnishing false information
charged under: Money-changing act 1998: Section 35(b)
8.

Dealings in foreign currency without permission of the controller
charged under: Exchange control act 1953 : Section 4(1)
9.

Dealings in foreign currency without permission of the controller
charged under: Exchange control act 1953 : Section 4(2)
10.

Dealings in foreign currency without permission of the controller
charged under: Exchange control act 1953 : Section 10(1)
11.

Dealing with foreign currency without permission of the controller
compounded for an offence under: Exchange control act 1953 : Section 10 (1)
12.

Money laundering
charged under: Anti-money laundering and anti-terrorism financing act 2001 : Section 4(1)


members of the public are reminded not to place any monies or deposits with unlicensed institutions or be involved in any form of get-rich-quick schemes to avoid losing their hard-earned money. A list of institutions licensed under the laws administered by bank negara malaysia to accept deposits is available on its website at www.bnm.gov.my.

Members of the public can also access information relating to illegal financial schemes and enforcement actions taken by bank negara malaysia at the financial fraud alert site (http://fraudalert.bnm.gov.my).

For further enquiries and information relating to this, members of the public can contact bank negara malaysia at the following:

laman informasi nasihat dan khidmat (bnmlink)
(walk-in customer service centre)
ground floor, block d
jalan dato' onn
50480 kuala lumpur

telephone:
bnmtelelink : 1-300-88-5465 or
e-mail: [email protected]

thank you admin.
The only helpful post