Jump to content
Login with your Gmail HERE and start posting in seconds! ×
Don't just read! Be part of the Community! Join the conversation ×








UFUN Ponzi Scheme

connda
 Share

Recommended Posts

connda Star Member

connda

Posted
Posted

I noticed in the news that the UFUN ponzi scheme just got shut down (Google 'UFUN' and 'Thailand'). My Thai sister-in-law got wrapped up in this. Thank god her English-speaking, Thai husband, who works off-shore and makes more than the average Thai, didn't fall for it. According to my wife, her sister had a crying fit about a month ago trying to convince her husband to liquidate assets and put then into the UFUN company. He did not. Instead her sister took out a loan against her car. She's now out ฿200K, and of course, in debt that much to the bank. The top dog in the company gained about ฿250 Million baht. According to the article I read, the punishment, if convicted, is 10 years in jail and 500K fine. 500K baht fine out of 250 million: drop in the bucket.

The sad thing is that last year, when she first got all excited about the opportunity scheme, she tried to convince my wife to have me put the money I have in a Thai bank to support my Thai Non-O visa into it. As soon as I looked it up on the Internet, I knew it was a ponzi, but I did research further to convince both my wife and her sister it was bad news. I was able to find a warning issued by the Securities Commission of Malaysia and printed out for both to read. My wife was convinced, her sister laughed it off. She was going to become rich, rich, rich. <sigh>.

Anyone else have family fall for this Ponzi scheme? The power of Greed.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share
Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...