“The Australian Securities and Investments Commission (ASIC) announced today that the Bank Negara Malaysia (BNM), the central bank of Malaysia, was investigating various activities involving a wealth creation scheme called PIPS or ‘People in Profit System’.
‘In March this year, we issued a warning about this scheme based on information from the public that it was being actively promoted in Australia’, ASIC’s Executive Director, Consumer Protection, Mr Greg Tanzer said. ‘The scheme appears to operate out of Malaysia, and following enquiries by Malaysian authorities, the BNM raided PIPs premises during the week commencing 15 August 2005, Mr Tanzer said. ”
Read the details here.
Copyright©2004 Gold-Horizons
This news was provided by http://www.hyipnews.com