uFun Club Ponzi scheme rebranding as Unascos?
With over ten countries actively investigating the scheme, problems with payment processors and the scheme likely appearing on a number of financial fraud alert lists – day to day operations at uFun Club have ground to a halt.
The latest blow saw investors formed that the new backoffice platform, which was supposed to be launched on the 15th, had been “delayed until further notice”.
Now, under the name “Unascos”, it appears uFun Club are looking to rebrand themselves.
As of yet I haven’t seen any official announcement, but the banner below is currently being circulated by uFun Club investors:
Yes it looks like it was put together in MSPaint, but there does appear to be some validity to the claim.
The domain “unascos.com” is currently live, but parked on a “coming soon” page:
The domain itself was registered on the 19th of May. The registration itself is private however, so no further info there.
From what I’ve been able to gather, Unascos (sometimes referred to as “Multi-Nasco”), is being touted as uFun Club’s stake in EcoLohas.
EcoLohas was featured in a series of presentations held in Chengdu, China over the last few days – which on the surface had nothing to do with uFun Club.
Trying to put all of this together, my guess is that with uFun Club synonymous with Ponzi fraud, management are having trouble laundering funds into shell companies.
So now you’ve got Unascos and Multi-Nasco, which may or may not have anything to do with EcoLohas, which will permit them to open up new banking channels.
That might work for a few days, maybe even a few weeks, but it’s not going to take much for regulators to work out what’s going on.
One possible reason for the Unascos platform delay might be the following “account suspended” message, currently appearing on the investor login:
Currently I’m not sure who suspended uNascos’ platform hosting or why.
In the meantime we can toss Unascos and Multi-Nasco onto the ever-growing list of hype-trains uFun Club are feeding their investors.
In the meantime expect a mountain of uFun Club investor spam touting Unascos and Multi-Nasco as as economic wonders, none of which will amount to anything.
On the regulatory front we still haven’t heard anything out of Thailand regarding the criminal report which was supposed to be filed on Monday.
At this point I’m starting to think it might have been filed under seal, which would assist regulators in other countries with conducting their own investigations under the radar (Malaysia in particular if that’s the case).
In any event, hopefully we hear something further on the status of the Thai criminal case by the end of the week.
Stay tuned…
Oz,
no wonder we cannot hear any UFUN activities in China. They using 优良，instead of 优趣.
Their UFUN China website yltd888.com/
Is that a precursor site? It seems dead, latest update was March 7th this year.
Domain was registered in Sep 2014, but it has “community updates” dating back to 2010?
Nothing suss.
They might have flew the coop when they caught wind of China official hot on their heels.
Lol content offline ^^.
I’ve seen Unascos promotional material floating around, showing various investment amounts ($50,000 still seems to be the max).
More info as it comes to hand.
so what happened to upocket ltd and the upaycard processing service and the selling of water bottles?
i think ufun is going to the confuse its members into tired resignation. i mean, who can keep up with this shit.
the ufun philippines page announced yesterday:
so, is ufun going to move away from the pre IPO model too, now that their indonesian nickel mine lie has been exposed, and ‘restructure’ to some O2O business model [hinged on the china chengdu ‘event’] , like umatrin pretends to have?:
So the head honchos are going to hold a corporate briefing session.
Can’t you just hear it now:
NOW LIVE from our Secret Bunker somewhere in the World comes our exciting new restructure of our Ponzi so we can steal even more money from the gullible and naïve.
Special Guests will include a call-in from our leaders in Prison to share this exciting news with you.
Yep, sure sounds like a winner to me. How about you?
Might help if I could hit the right key! It is LIVE not LIFE. My bad.
The good news is there is light that some of the members are finally waking up and realizing they have been had. Things are not all roses and light with Jamison Palmers updates from the members.
Umean UbeenHad?
with many running around yelling uBastards!
Update on criminal case report:
I think the latest delay is due to these two guys turning themselves in:
It’s likely info they’re providing is being added to the case.
nationmultimedia.com/national/Dozens-complain-over-being-lured-into-investing-on-30262640.html
So is the case still on track to gain transnational status?
As far as I know. Hopefully we’ll learn more on Monday.
UFUN will ceased to exist?? All this while they have been promoting UToken is the next “thing” is nothing anymore??
Later they will say the Utoken has transform (mutated ) to Ucoins.
Unconfirmed as I can’t make heads or tails of this article – but it seems like there might have been regulatory action taken in England: news.sanook.com/1815066/
Confirmed: https://behindmlm.com/companies/ufun-club/britain-looking-to-thwart-ufun-club-ipo-offering/
A UK IPO? The plot thickens…
In simple meaning, what is the status of our investment in Utoken/Unascos?
Its seem that our invesment will be down the drain and sipped by the unresponsible group. Pse comment.
Your investment is already doomed when you invest in it.
Unless you keep on ignoring the news all over the world about UFUN, and still believe what you upline feed you; then you still be in your cloud 9.
You paid for a bunch of numbers with your real money. What those numbers are worth is up to debate, but it’s probably worth ZERO, as it can’t be traded or redeemed for anything.
Compare it to a game of monopoly where the players pay $500, $1,000, $5,000, $10,000 or $50,000 to join the game.
The money ends up in a pot (separated from the game itself), while the players will get monopoly money to play with.
Early players will get 10 times their “joining fee” in monpoly money.
$500 → 5,000 monopoly money
$1,000 → 10,000 monopoly money, etc.
The only thing that will be worth something here will be the money in the pot. The monopoly money won’t be worth much.
* Experienced players will focus on the money in the pot, trying to get a share of new money coming into the pot from new players.
That’s the only way they can make a profit from the game. So they will try to sell monopoly money to new players, by telling the new players how much the monopoly money has “grown in value”.
* Inexperienced players will believe in ideas like that and will buy monopoly money from the experienced ones.
When the game ends (it always will), experienced players will have managed to get a share of the real money in the pot. The inexperienced ones will have focused on “the growing value of the monopoly money”.
Monopoly money may look like a type of real money and it may feel like it. The only difference is that the monopoly money can “grow in value” and be multiplied by the rules of the game.
When the game ends, the monopoly money can be used to attract inexperienced players to a new game. “We will give you pre-ipo shares for your monopoly money” may attract many of them.
They truly believed in the monopoly money idea, so they will most likely believe in other similar ideas (as long as it is about something that can “grow in value”).
For us older generation, Utoken is like fun fair token; which can only be used in the funfair compound. Once you are out of the compund, your tokens is deemed worthless.
For those younger generation (ie. those who play Maple Story), Utoken is like “meso” (game currency) in the game. Once out of the online game, the “meso” is useless.
You paid real money for digital money (which they created from nowhere land).
For them, they only wanted your real money. As for the digital money, they can give you as much as you wants as it is only some numbers.
I invested 1000 U.S. And it looks like I’ve made -$1.00 in nearly 12 months. Would like to withdrawal.
Someone juz wanted to add me in FB and this person is promoting this Unascos investment in Singapore. is this for real??
Sure. Real in the sense that Unascos is just uFun Club v2.0.
It’s still just the transfer of your real money into Ponzi points, with earlier investors paid out of newly invested affiliate funds.