State financial regulator warns Oregonians about People in Profit System (PIPS)

Information (0.0.0.0) -

For release Friday, June 24, 2005 For more information, contact Rob Brunner,

(503) 947-7855 or DFCS, (503) 378-4140

State financial regulator warns Oregonians about People in Profit System (PIPS)

(SALEM) The Department of Consumer and Business Services warns investors about the possible unlicensed

sale of unregistered securities in various forms by People In Profit System (PIPS).

Oregonians should contact Rob Brunner, DCBS Division of Finance & Corporate Securities, (503) 947-7855, if

anyone attempts to sell them interests in this investment, which the division believes may be a Ponzi scheme.

PIPS’ securities are not registered in Oregon and are sometimes referred to as “loans” by representatives of the

company. Several states have issued cease-and-desist orders against PIPS and its promoters.

PIPS, which was started about 24 months ago, is allegedly run by Bryan Marsden, reportedly a British citizen,

electrical engineer, and former facilities manager. Marsden has been living and working in Malaysia, but may

be in Panama.

The first PIPS investors in this country sent money to a bank account in Malaysia, investigators say, having

been promised returns of two percent a day. Potential investors were told that an investment of $450 could

return as much as $8,800 or 5,000 percent in 24 months. The company has described its investments as

involving real estate, foreign currency, stocks, commodities, bank debentures, and other ventures, although

investigators have neither seen nor verified that investors have seen documents detailing their investments or

the company.

Early investors reportedly received significant returns; however, later investors have reported problems

accessing funds that are allegedly in their accounts, which is a typical pattern for Ponzi schemes that are

beginning to fall apart.

Brunner, a DFCS investigator, said that he knows of several Oregonians who sent significant amounts overseas

to PIPS. He fears there may be many more Oregon investors about whom the division does not know.

Some PIPS investors are apparently attempting to liquidate their PIPS balances or portfolios by offering to sell

them to yet newer investors, said Brunner, which constitutes illegal sales of securities.

“Potential investors always look for profitable investments,” said Floyd Lanter, DFCS administrator. “But wise

investors immediately see red flags when told of astounding profits in the short term, if they’ll just get on board

right away. They don’t invest a cent until they check out investments thoroughly. Their first step is an easy one:

they call DFCS to find out if the securities are registered for sale in Oregon.”

Comment #1 kouassi Daniel (196.201.79.242) -

good morning Mr/Miss,

I have an investment proposition thought PIPS ( www.pipsinc.com) but I'm still thinking. I would like you to telle me if it is a reality, an if I'm not going to loose my money in this business.

Think you very much.

Sincerely yours.

Comment #2 isyo (68.111.191.74) -

Ive been a member of PIPS for the past 5 months and suddenly the web site was gone...I just wanna know if it will be exist again or can u tell me whats going on this investment.....Is it for real??

Comment #3 hhill (139.142.246.224) -

is there any recourse reguarding collection of funds from pips members who signed people up to pips and then took their cash and ran with it knowing pips was not paying..?

Comment #4 sally (216.195.232.118) -

could someone tell me where to go to go to find out about PIPS. Is it finished; will it return; how can one try to recover what was invested; please furnish contact.

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