HYIP Update: Bryan Marsden of PIPS charged with money laundering
From the Malaysian newspaper The Star:
Couple charged with money laundering
Wednesday, August 30, 2006A couple was charged with 41 counts on money laundering involving more than RM26mil at the Session Court here in the first such case investigated by Bank Negara.
Bryan John Marsden - a 58-year-old British national - and his Malaysian wife Phan Sew Ken, 50, allegedly committed the offences by receiving money that were proceeds of unlawful activities in between Aug 12, 2003 and Jan 4, 2005.
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The transactions, amounting to USD 7,020,887.25 (RM26, 679,371), were done through their company - New Mark Business Centres Sdn Bhd - account with EON Bank Group in Nilai, Negri Sembilan.
The couple were charged under Section 4 (1) of the Anti-Money Laundering Act 2001, which read together with Section 87 (1) of the same act, separately before Session Court judge Mohd Zaki Abd Wahab yesterday.
If convicted, they can be fined not more than RM5mil or a jail term of not more than five years or both.
They claimed trial to all charges.
Mohd Zaki set bail at RM500, 000 in two sureties for both of them separately. He also ordered them to surrender all their travel documents.
He fixed Sept 13 for mention.
But is there hope for PIPS investors to get their money back? Discuss this in the PIPS News thread in the PMT Forum.
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November 6th, 2007 at 3:01 am
Not much. The last thing I know is that the PointShareXtreme.com sites are supposed to go offline in preparation for upcoming payments. But apparently, it still has not happened yet (the payout, I mean).
Here’s what we have about Henry Banayat and PSX:
- PointShareXtreme (PSX) payments to resume?
- PointShareXtreme admin responds to scam accusation
- Filipino admin of ‘Point Share Gold’ program arrested but now out on bail
November 6th, 2007 at 1:34 am
Thanks for answering me so quickly on PIPS. I will wait for the outcome. Do you happen to know anything about pointshareXtreme.com /Henry Banayat scam out of the Phillipines ? I’ve invested there also, but their websites disappeared…..
Jeff
November 5th, 2007 at 7:27 pm
[...] In Profits System. Based in Malaysia, he was taken into custody in August 2005. In August of 2006 Pinoy Money Talk reported that he and his wife, Phan Sew Ken, were charged with having committed money laundering [...]