Sagajuta’s Raymond Chan facing uFun Club corruption probe
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 none other than Raymond Chan, CEO and owner of the Sagajuta construction firm.
We thought the Royal Malaysian Police might have been the investigative agency involved, but turns out it was the Malaysian Anti-Corruption Commission (MACC).
The specifics of the MACC investigation pertain to Sagajuta being involved in “corrupt business practices”, by way of their relationship with uFun Club.
Datuk Raymond Chan Boon Siew, who owns the Sabah property development company is said to have surrendered documents to the MACC for investigation related to infrastructure development in the state.
“There is an ongoing investigation on him for corruption and conflict of interest. We have collected documents from him, but he has yet to be arrested or called in for questioning,” a source told Malay Mail Online.
Earlier reports suggested Chan was being questioned, but it appears thus far only documents have been handed over at the request of the MACC.
Despite Sagajuta and Chan denying any links with uFun Club, investors in the $1.17 billion dollar Ponzi scheme were advertising investment in Sagajuta projects dating as far back as mid 2013.
Recently uFun Club signed a memorandum of understanding with Sagajuta, through which an undisclosed amount of stolen Ponzi funds is planned to be transferred from uFun Club into Sagajuta’s Gateway Klang project.
Also tied to Sagajuta is Mohd Nazifuddin, son of Malaysian Prime Minister Najib Razak.
Nazifuddin was Chairman at Sagajuta till 2012. It was then revealed Nazifuddin attended a uFun Club sponsored beauty pageant as a guest of the scheme’s executives in 2013:
Nazifuddin had previously claimed he had never met uFun Club executives or knew who they were.
Nazifuddin maintains he has no involvement in uFun Club, but now claims he “doesn’t know” if Raymond Chan is in bed with the scheme.
Nazifuddin meanwhile remains a major shareholder in Sagajuta. If the firm is found to have assisted uFun Club with the laundering of Ponzi proceeds, it’s extremely likely that Nazifuddin indirectly profited from Sagajuta and uFun Club’s business relationship.
Whether he becomes a suspect in the MACC’s investigation remains to be seen.
Meanwhile if the MACC are even remotely competent, I’m having a hard time believing Raymond Chan is going to be cleared. He needs to start spilling when and how uFun Club funds flowed through Sagajuta, and quickly.
Had Mohd Nazifuddin not have been caught schmoozing with uFun Club executives, I’d almost be inclined to give him the benefit of the doubt over whether or not he had any idea of what was going on.
That Nazifuddin was dining with the uFun Club elite however, is too much of a co-incidence for my liking.
Quite obviously Sagajuta has accepted uFun Club funds and to what extent needs to be thoroughly investigated. Post haste.
Stay tuned…
so, there is a 1.17 billion dollar ponzi scheme being run out of malaysia, with the perpetrators/management, hiding in plain sight in malaysia.
the malaysian press and police do and say nothing about it.
enter behindmlm’s expose that nazifuddin s/o prime minister najib, may have connections to ufun.
malaysian press and police stand in a straight line and bow and scrape and ‘clear’ nazi of any wrongdoing.
….still no investigation of ufun……
then raymond chan, owner of sagajuta and partner of nazi, provides ‘documents’ to the anti money laundering/ anti corruption unit MACC.
now if we wait patiently, raymond chan will get an ‘all clear’, ie MACC will say they found ‘no evidence’ that raymond chan and sagajuta laundered any ufun money.
hence, we will know that neither nazifuddin nor raymond chan had anything to do with the ponzi scheme of ufun.
with this ‘cleared’ we can ‘hope’ that the malaysian police/MACC will finally start taking action against ufun.
that is, if any ufun management has not been allowed to ‘run away’.
On the other hand, if MAAC is investigating Raymond Chan, they should be doing more than just “going through the motions”… esp if Nazifuddin is throwing Raymond Chan under the bus so he can get clear.
I can sort of see this work as Nazifuddin didn’t really know anybody in UFUN other than Soonpon and Warren Eu, so there’s nobody for him to throw, but if he can throw Raymond Chan in he has a chance of coming out of this clear.
Raymond Chan, now has a decision to make: he can either play the victim much like Nazifuddin did, i.e. deny Sagajuta ever had any link with UFUN and he was tricked, or he can sing to MAAC (i.e. confess).
Or both at the same time, actually, and hope MAAC will keep his public image intact and he’ll just “retire”.
i think nazifuddin and chan have too much history together, for nazi to throw chan under the bus. raymond chan could divulge details of nazi’s shady business and stock dealings.
they would be better off playing tag team and throwing tay etc under the bus. they can clear their names, point fingers at tay, while arranging safe passage for him, so that he doesn’t hang around to implicate the two of them.
i mean this is such a farce, instead of investigating and taking down the ponzi scheme ufun, you have the police ‘investigating’ nazi, and giving him a clean chit, and you have the MACC ‘investigating’ whether chan laundered ufun money.
hello, mr’s commonsense! what about UFUN?
Hi guys,,, Could you clarify if those arrested in Thai, Malaysia etc will affect the current / future entire uFun business?
These suspects are all from Asia. Why are so many uFun members still recruiting new members?
Are the current members not informed what happened in police investigations conducted in Asia? Some of my friends are telling me that they are so much excited about the IPO which uFun has been talking about.
Looking through uFun website, it seems to me that uFun itself has been promoting their further expansion through their current members.
What is going to happen on these 1.17 billion collected? do you think IPO plan will be carried out as has planned? I got lost myself on this uFun issues. Can anyone clarify on this please. Thanks
Chan and Nazifuddin are best buddies:
dailyexpress.com.my/news.cfm?NewsID=100012
@teriteri
Give it time. Alot of people have bought into the bullshit, and with the investigations ongoing this isn’t going as fast as we’d like it to, but progress is being made.
the malaysian press is Coming To Life!!
first the ‘daily express’ and now the ‘the malaysian insider’ is carrying the story of ufun and nazifuddin.
uh, what was that about ‘Authorities in Thailand and Malaysia are still looking for those purportedly behind its operations…’?
the reason danial tay & co are still free and still stealing money from the world, is because the malaysian police Has Done Nothing.
themalaysianinsider.com/malaysia/article/bt1.8-billion-ufun-assets-smuggled-to-malaysia-under-thai-ponzi-scheme-say
I would like to hear anjali scream when there is still not much progress happening for the Malaysia police in handling this case.
After all this hype, still no action form the Malaysia police. It is better now to rely on the Thai police and the China police.
A member asks legitimate questions about the nickel mine and gets booted out of the group post-haste!
i.imgur.com/Czh0LL2.jpg
Mind you, this isn’t the first time this has happened.
The only people who are allowed to stick around in these cult-like groups are those who are mindlessly cheerleading scammers/ponzi pimps like Casey Tan, Umesh Rana, Ayshez Sheikh, Lei Lei Mal etc and don’t ask any “smart” questions.
Even Umesh Rana has gotten scared of all the negativity and has been kicking people out left right and centre from his group and has changed the group privacy from public to secret:
i.imgur.com/1EcYLmg.jpg
What have you got to hide? 😉
Thanks Oz,,,
A member who I have known well for a long time, is still believing uFun/uToken business. Even she said she has already become a millionaire.
I am not sure what her basis claiming a millionaire is, but this is a good example.
I believe a lot of people are still believing for their brighter future through uFun business. I am always wondering if these members have been informed or aware of uFun top executives’ arrest or sound-like-escaping out of the country.
Do you think all the members have received any payment from uFun?
The below is wdhat I dot from the member I mentioned above. She feels so happy in this program. I wonder if she received the actual money of a million, or just an artificial figure in her member’s back office.
Thai celebrities put on notice:
European royal family, wtf?
nationmultimedia.com/national/TV-star-meets-police-and-pleads-ignorant-to-nature-30260854.html
JAL covered this a day or two ago. Lt Gen Suwira Songmetta said he’s going subpoena (i.e. invite to visit police HQ) every famous Thai that showed up at a UFUN event. Singers, dancers, comedians, actors… etc. to see if they benefitted from UFUN… or merely went to a party.
He overheard it. 🙂
Video from the March 16 2014 signing ceremony, 480 Good quality. None of the VIP guests look European. One of them may be European, but the 480-resolution isn’t clear enough. 19:47 into the video.
youtube.com/watch?v=tBj7I85ewLM
Refer the original MOA signing video:
youtube.com/watch?v=g2gyRAh4Pyg
At 26:16, “The third person is a family member of the Royal Dutch family, and also the President of the European-China Business Association. Please welcome Her Royal Highness, Madame Sen.”
Yeh, Madame Sen in the clip look like chinese people.
Then i read the European-China Business Association website eucba.org/en/members.
20 countries are members of the association, no Natherland. And i saw this link eucba.org/en/representatives.
The president of this association is James Meyer Sassoon, Kt form UK.
So, this ufun event is just Mallywood film directed by Tay.
Technically that’s “EU China Business Association”.
I searched quite hard and found NOBODY of Asian blood married into an European Royalty in recent years.
The most recent would be Countess Alexandra of Frederiksborg, first wife of Prince Joachim of Denmark, mixed ancestry of British, Chinese, Czech, and Austrian.
She married back in 1995 and divorced in 2005. And stayed in Denmark after divorce. and remarried there.
What makes me laugh with all these complaints And investigations regards ufun, I got kicked out that group other day for showing what behind mlm were saying about this.
What did I get told, ‘ it’s all BS, we are enjoying the best returns ever’.
Don’t make me laugh, they are all, big fat liars, who know what the scam is on to!
This is what i posted on the real scam forum, and is ll true,.