PIPS - Anyone Heard of It

[Puppeteer]

Hi guys,

I just had a referral to PIPS (Pure Investor Profit System or People In Profit System) and couldn't find very much information about the scheme on the web.

Anyone know anything about this. It looks suspiciously like a Pozi type scheme, but without the necessity to recruit people. It promises 2% return per day, which seems unrealistic.

Anyone?

Thanks in advance

 

[likewow]

Hi Puppeteer

Do you have a link?

 

[Andrew_A]

Not a pyramid - A cycle

This group has been discussed at PI

http://www.propertyinvesting.com/forum/topic/14708.html

And it's not a pyramid apparently, it's a cycle!

Lucifer_au, ah ha ... I knew you've not done your homework properly. It's a cycling model and not a pyramid. In a cycling model, everyone is tied to everyone. Call it what you like, bottom line: It isn't pyramid shaped.

 

[Puppeteer]

About the only ones I could find are:

http://pips.pipsinc.com/index.php

http://groups.msn.com/PureInvestor

http://www.wpi-fund.com/

http://www.matrixwatch.org/forums/showthread.php?p=17820#post17820

There's lots of stuff on the forums of the first site, but considering they claim to have over $700 Million in Assetts and an upcoming listing underwritten by Morgan Stanley, there's surprisingly little information about them.

 

[Jamie]

Hi Puppeteer

Do you have a link?

A quick Google found: [url]http://pips.pureinvestor.com/guest/pips_main2.php?sponsor=detailshere[/URL]

There are a fair few other sites with some info too.

Jamie.

Edit: What Puppeteer said

 

[Puppeteer]

Thanks for the link to the other forum, but it doesn't really give much more information.

From what I can gather is that it's some kind of semi-legitimate Ponzi scheme that seems to fall between the cracks of all existing ponzi/pyramid/matrix definitions.

I just can't seem to find any information discussing how it works, or how it can sustain returns of 2% per day (well 1.1% per day once you've taken off all of your fees for participating). Interestingly, the initial investment of $450 US, is just below the $500 legal threshold for full disclosure required under US law.

Also, being registered in Panama rings alarm bells loud and clear. I'm really having trouble finding what's wrong with this thing though. I mean I know it is, but I just can't put my finger on why.

Maybe an email to Morgan Stanley to ascertain whether they have been approached about the underwriting?

 

[Puppeteer]

OK - Found some interesting stuff on PIPS

Have a look here - http://www.pips-scam.com/

http://www.tiscali.co.uk/money/guardian/features/2004/12/11/theschemethathopestoturn1into500000.html



The forum makes for interesting reading. Looks like PIPS is getting close to melting down.