Number of UFUN complaints rises to 46, damage claims hit Bt22m
Kornkamol Aksorndej
The Nation

BANGKOK: -- MORE THAN 30 people yesterday lodged fraud complaints with police against UFUN Thailand, bringing the total to 46, with damage claims soaring past Bt22 million.

A woman told police she had invested Bt2.45 million with UFUN Thailand because it promised to pay her 1-per-cent every month, but she got that nice return for only the first month.

"We have now got complaints from people in as many as 19 provinces. At this point, we have set up nine teams of investigators for this case," Pol Lt-General Suwira Songmetta, assistant national police chief, said yesterday.

He expects to wrap up the probe early next month.

Since the scandal broke, 12 suspects are facing charges and assets worth over Bt400 million were frozen. Six of the 12 suspects are in custody.

"The Anti-Money Laundering Office will handle these assets. They will be auctioned off to cover the losses suffered by the victims," he said.

If the proceeds are sufficient, the plaintiffs with favourable rulings can be fully compensated.

UFUN executives should turn themselves in and give up trying to fight off the allegations via social media, he added.

Hansa Thara-bundit, a UFUN Thailand shareholder and suspect, was released on Bt500,000 bail after reporting to police on Saturday and denying any wrongdoing.

Police believe that UFUN Thailand used a pyramid scheme to bilk Bt20 billion out of more than 100,000 people.

"We will act fast. When state attorneys agree to prosecute, we will be able to seek the extradition of those who have fled overseas," Suwira said.

Source: http://www.nationmultimedia.com/national/Number-of-UFUN-complaints-rises-to-46-damage-claim-30258294.html

-- The Nation 2015-04-20

The police have the suspects , the consensus is that if all goes to plan most will receive full funded payout , what better outcome could you ask for , the basic's haven't been applied here from the investors , if it looks to good to be true, then it is not true, give it a miss, you'd be better investing within the mainstream, even then ( commenting on experience) you can be taken for a ride.

The operative words here are "if all goes to plan " i have found that very little goes to plan here in the LOS

The operative words here are "if all goes to plan " i have found that very little goes to plan here in the LOS

How could it when the concept of planning is tantamount to wishful thinking in LOS Leaders?

When the poxy local bank (all of them?) is offering 2.75% on a 12 month term the possibility of getting 12% a year is too tempting for some!

If the proceeds are sufficient, the plaintiffs with favourable rulings can be fully compensated.

And if pigs could fly.

'A woman told police she had invested Bt2.45 million with UFUN Thailand because it promised to pay her 1-per-cent every month, but she got that nice return for only the first month.' The banks pay, perhaps, 0.75% - 1.0% per annum. Yet a 'promised' 12% didn't strike her, or others, as too good to be true?

The operative words here are "if all goes to plan " i have found that very little goes to plan here in the LOS

How could it when the concept of planning is tantamount to wishful thinking in LOS Leaders?

"... concept of planning is tantamount to wishful thinking in LOS Leaders?"

You mean sort of like the planning and implementation that went into forming the European Union and the astute critical thinking that produced "Mission Accomplished" when the US took out Saddam Hussein or possibly when the US opened their finely honed open enrollment in the Affordable Care system or when Nancy Reagan was de facto US president & consulted a medium??

The western approach to governmental planning as explained by Donald Rumsfeld (aided by Magic 8 ball and Ouija board),