PIPS Update: Bail reduced for Marsdens as more charges pile up
Malaysia's The New Straits Times reported on October 11 that Bryan Marsden and his wife Phan Sew Ken of the now infamous PIPS scam program had their bail reduced by the trial court, but the day did not end well for the two as additional charges of money laundering were filed against them that same day.
Here's a copy of the news report from the Malaysian newspaper (online link now inaccessible):
Dirty money accused faces 7 more charges
SEREMBAN: A British national and his Malaysian wife, facing 97 counts of money laundering amounting to RM77 million, had their bail reduced by RM100,000 on appeal yesterday.
After hearing arguments from the prosecution and defence counsel, Sessions Court judge Allaudeen Ismail allowed the two — Bryan John Marsden and Phan Sew Ken — bail of RM400,000 instead of RM500,000 imposed when they were first charged on Aug 30.
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Marsden, 58, had appealed for his bail to be reduced to RM100,000 and Phan, 50, asked the court to set hers at RM50,000.
They were each charged at the Sessions Court here with 41 counts of collecting funds, totalling RM26.7 million, from illegal online activities.
Later, Marsden was taken to the Kuala Lumpur Sessions Court to face seven more charges involving funds totalling RM7 million. All the offences were allegedly committed between Aug 12, 2003 and Jan 4, 2005.
These offences, under Section 4(1) of the Anti-Money Laundering Act 2001, are punishable by a fine of up to RM5 million, or a maximum of five years’ jail, or both, on each count.
On Sept 19, they were back at the Sessions Court here to face another six charges of accepting a total of RM11.78 million.
The couple allegedly committed the offences between Jan 4 and June 14 last year at the EON Bank in Taman Semarak, Nilai, near here.
Allaudeen fixed Nov 24 for re-mention of the case.
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April 20th, 2008 at 1:39 pm
I’m owned over $500,000.00 when are these people going to get slung into jail and have our money returned, he has BILLIONS of people’s money.
March 17th, 2008 at 7:54 pm
any of you has knoledge about other arests regarding picpay?
i believe some romanian newspapers said something about an action of the fbi and romanian police.
December 2nd, 2007 at 7:56 am
Three options for Bryan and his awful wife:
1. Refund all the money
2. Work as contractors to clean and remodel one room of the homes of each of the people affected by his criminal frauds.
3. Spend the rest of their lives in jail
February 15th, 2007 at 3:35 pm
Bryan should wash dishes and toilets for everyone he affected if he has no money to pay back. He should tour the U.S. with his wife and clean the homes of his victims, always surveilled by the police. Then at night, he should be taken back into custody.
Or if this is too much trouble, just give him the lethal inyection and let him toast…
February 15th, 2007 at 9:31 am
Charges have already been filed against Bryan Marsden and his PIPS cohorts. I think we all just have to wait regarding the results of this litigation. Only then can we know if PIPS investors stand a chance of getting anything back.
Honestly, I suggest you don’t put your hopes up high for this one. Even if refunds were to be sent, the amount may be too small compared to your losses and it might even take several years more before refunds are completed.
February 14th, 2007 at 4:53 am
I want to know what to do in order to get back the money from PIPS , Can I get a lawyer or I need to call some one ?
Please some body tell me
some advice
My Mother loose money in this case and I want to help her
January 4th, 2007 at 8:10 am
No important updates regarding Bryan Marsden’s court case. They still stand trial and it may take years before we see a conclusion to this. If you’re thinking PIPS will resume operations later in the future, quit it. PIPS will never be reborn anymore, even if it does, it won’t refund the losses of its previous investors. We can only wait for the ruling of the court judge regarding the case.
January 4th, 2007 at 7:55 am
bonjour ,
donnez moi les nouvelles de bryan et de pips pureinvestor .
il ya t’il de l’espoir pour la reprise des activités ?
January 2nd, 2007 at 2:09 am
[...] I decided to put some funds into Empowerism, SportsPointer, and also tried to fund my Moneybookers account so I can get into PIPS. (PIPS only accepted Moneybookers and PicPay, their own curency, then.) Moneybookers failed to verify my credit card so I just decided to simply let go of the PIPS program. [...]
December 21st, 2006 at 8:46 am
[...] So if you suffered a loss as an investor in ST, head off to the IC3 site and file a complaint. Like the PIPS scam saga, this too will surely take a long time before a closure is reached. Whether that closure, however, would mean good news for StudioTraffic victims remains to be seen. [...]