Thread: A Humble Request (Merged)

Thank you sir!

thanks everwiser, bryan good to hear from you. this is my first post in regards to pips. I am confident in the outcome and I appreciate you arcturus in starting this thread and all the pips members that were there from the beginning and have a lot of knowledge to share. I joined PIPS around oct 04 and i have alot of family that invested as well. I read this website several times a week looking for updates and alot of what is on here i find rather amusing. People ranting and raving asking where is their money!!! We are all in the same boat and are all anxious to hear the outcome. Brian does not need to post " have not heard anything yet" once a week. When the investigation is complete from BON everyone will know.

I will continue to read and educate myslef about the early history of PIPS.

Here are a few of my own facts;

1) In or around October 2004 I tried to withdrawl funds. I had to call several times for a new PIN number. Sometimes it was impossible to get through. After I finally was able to get through (logged in) I applied for a bank card. About 4 weeks after applying I received the card. The card did not work however.

2) Tried for a bank wire. Never did receive it.

3) I tried to get a Visa card. Stall, stall, stall. Never did get the card.

4) I then tried to buy a vacation through a merchant with Picpay funds. The merchant however was unable to fulfill the purchase until he received his real money from Picpay (or so he said). Our Picpay account displayed that the money had been taken out but since then there was the raid and I have no idea whether or not the funds were returned to my account. I'm pretty certain that those funds are gone for good (as well as any remaining Picpay).

The above statements are all I know for sure as I experienced them first hand. I will not believe ANY statement from ANYONE unless it is verifiable from some other source(s). In this thread there are references to a lot of statements made by BM that are regarded as fact. Why? I mean that is fine if he is proven to be honest and with integrity. What if he is a crook? How can you get to the bottom of all this if you take these statements as truth just because he said so? How do you even know whether or not it is actually BM that is posting?

Oh ya, other facts that I believe

1) as of today - This is to inform that Bank Negara Malaysia, the Central Bank of Malaysia, has received a number of inquiries regarding Pure Investor.Com Inc., PIPS Inc., and its related companies. Bank Negara Malaysia is still working closely with the relevant authorities and is currently still in the midst of investigating PureInvestor.com, Inc., PIPS Inc. and its related companies.

2) All these forums are anonymous and are definately not the place to get accurate information. I don't know any of you. Why should I believe anything that is being said here? Sure some of the information is "probable" but that is as far as it goes. To top it off you have greedy people and others with hidden agendas.

This is a good thread but it is all speculation and should be treated as so.

you made a very good point beerhunter....everytime a member says he has heard from Bryan first hand we are suppose to believe that statement...rather there is proof or not......but if someone says they have heard from a source about the investigation not going good we are not suppose to believe them....simply because they have no proof......but there is no proof on either side,so it is as much speculation on both sides...one thing about this post...it gives us newbies better insight on the early days of pips....and really all the problems they were actually experiencing.....IMHO....Pat

Originally Posted by bigopie

...one thing about this post...it gives us newbies better insight on the early days of pips....and really all the problems they were actually experiencing.....IMHO....Pat

Yes but the CAUSE of the problems is as important as the fact that there were problems. There were many problems that were products of the business structure and the business' exponential growth. That being said, however, how many more problems were created and (existing weaknesses) exploited by those inside and outside the business wishing to do so? If you haven't seen the corelation, then you're ignoring a large part of the whole picture...

Originally Posted by BM

There are other factors in this as well, the fact being that Millions of dollars in cc transactions went through and to date neither eCommerce Services UK nor Ectrust has paid one cent of those funds to pips.

Bryan

There is something that is confusing me:

1. If the 2 processors didn't pay PIPS, why didn't PIPS cut them off before reaching millions dollars in transactions?

2. If the money of some of us never got to PIPS, this means that the amounts shown on our accounts were just numbers on the screen?

Originally Posted by way2go

There is something that is confusing me:

1. If the 2 processors didn't pay PIPS, why didn't PIPS cut them off before reaching millions dollars in transactions?

2. If the money of some of us never got to PIPS, this means that the amounts shown on our accounts were just numbers on the screen?

3. What was the reason for not allowing the funds through? Is this because of the apparent CC fraud?

4. Was there official documentation posted anywhere to support BM's statement?

5. Where is that money now? Does this mean that they (eCommerce Services/ECTrust) still have it?

...sorry, I know, more questions than answers.

of course EW....the cause of the problems is as important a fact as there were problems...i'm not ignoring those facts at all....its going to be very interesting from here on out...because i joined in feb. 2005...so i can remember some things that Bryan supposedly said that never panned out...for whatever reason....will be interesting reading from now on....IMHO....Pat

Maybe someone else can jump in and clear this up, but I have a feeling Bryan was referring to the chargeback monies that Pips was not compensated for. The only other possibility I could see would be CC transactions that occurred shortly before the BNM investigation. Credit cards weren't being accepted to fund PicPay in early 2005; I purchased in with a wire transfer in 3/05. I don't believe they started taking CC's again until June or July 2005.

I remember Bryan having the lawyers trying to get the money released in mid 2005. There was something mentioned that the banks could hold the funds for 6 months. The 6 months are up so I guess their making sure those who used thier cc actually still want the transaction to go thru. I think it was Nelsonlee who had posted this some time ago. I think all this started after PIPS lost HSBC.