End of the line for uFun Club’s fugitive executives? (Interpol)
Are we finally going to see uFun Club’s rogue fugitive executives brought to justice?
If Thai authorities are to be believed, Interpol will is now overseeing a global manhunt to track them down.
AUTHORITIES in 180 countries will be sent details of the six UFUN fugitives wanted by Thai police to answer charges for their part in a pyramid scheme that allegedly defrauded investors out of millions of baht, Pol Lt-General Suwira Songmetta, assistant to the police chief said yesterday.
The six suspects have already fled the country, Suwira said. Police will co-ordinate with Interpol to hunt them down.
The move comes after repeated attempts by Thai authorities to get their Malaysian counterparts to investigate uFun Club have gone nowhere.
Thai authorities first contacted Malaysia’s NCB_KualaLumpur Interpol office back on April 16th. Despite repeated requests for assistance, no regulatory action has been taken against uFun Club fugitives hiding out in Malaysia.
This despite repeated public appearances by Executive Chairman Daniel Tay (Tay Kim Leng). Tay only a few days ago publicly signed off on a deal with the developers of the Gateway Klang project, which will see millions of stolen Ponzi funds laundered through Malaysia’s construction sector.
With victim losses in uFun Club estimated to be around $1.17 billion dollars (the second largest MLM Ponzi scheme we’ve ever seen), Interpol are looking to catalog the investigation for future reference.
Interpol will send officials |to Thailand to observe the investigation and use it as a case study.
One would hope they record in great detail Malaysia’s political ties to uFun Club, and the apparent effect that’s had on motivation to investigate the scheme there.
Thai police meanwhile publicly stated yesterday that uFun Club criminal prosecutions were expected to be filed by the end of the week.
In related news uFun Club victim reports in Thailand continue to rise.
As of Tuesday April 28th the number of victims who had filed claim reports was 292. Yesterday saw an additional 92 victims come forward, bringing the total to 384 claims for $3.5 million USD.
If Interpol’s global investigate efforts bear fruit, that number is set to explode once victims in other countries uFun Club operated in eventually realize they’ve been scammed.