uFun Club @ BehindMLM

Mid-May we reported on uFun Club investor Nicolas Giannos schmoozing with the Samoan government and Central Bank of Samoa. Giannos and a Samoan female friend touched down in Samoa in early May, and over the next few weeks gave uFun Club presentations before the Central Bank Governor, the Samoan Deputy Prime Minister and even the [Continue reading…]

We’d earlier received reports that the FBI were investigating uFun Club, and can now confirm as much. That the FBI and Australian authorities are investigating uFun Club was revealed at a press-conference, following the arrest of two more uFun Club suspects in Thailand.

Yesterday saw Thai police close off the window in which uFun Club victims could file complaints, with the last few days seeing the number of individual investors with claims top two thousand plus. Combined, uFun Club victims in Thailand are claiming $8.5 million USD in losses. The above was revealed yesterday at a press-conference held by [Continue reading…]

As the Chengdu shebang nears and uFun newsletters tout scrapping worthless uTokens for pre-IPO shares in shady ventures nobody seems able to verify, plenty more dodgy is going on within the uFun investor-base. The latest saw an affiliate desperately trying to cover her tracks, by way of a story that failed to add up.

In a press-conference discussing the involvement of Thai singer Sukrit “Bie” Wisedkaew in uFun Club, her manager claimed she had nothing to do with the scheme. Bie’s manager told police that a photo of Bie and a man nicknamed “Boy”, who was a senior alumni classmate of Bie’s friend, was taken in February or March. Pethai [Continue reading…]

A while back now uFun Club lost their previous payment processor services. We’re not sure who they were using, but we do know the service was abruptly cancelled and affiliates were without a means to withdraw for months. Last week we then started hearing about a new payment processor, specifically for uFun Club affiliates in western [Continue reading…]

The attention uFun Club has been getting in Thailand, China, Malaysia and Vanuatu hasn’t gone unnoticed, with Singaporean media the latest to start asking questions about the scheme.

Damned if they won’t haul in uFun Club management for even an interrogation, but authorities in Malaysia appear to be investigating the scheme’s money laundering activities. Citing a brief local new story, we’d reported earlier today that an unidentified individual had been picked up for questioning in Sabah, Malaysia. We can now reveal that individual as [Continue reading…]

Following news that the Malaysian Securities Commission have listed uToken and uToken Mutual Fund on their blacklist, now it appears things are well and truly heating up in Malaysia.

As Thai police continue their investigation into uFun Club, new details have emerged on how uFun investors laundered money out of Thailand. uFun Club management might have been laundering through a complex network of banks tied to the Pacific, but for their investors it was a far more simple affair. Get suckers to deposit funds [Continue reading…]