292 people claim to have lost Bt110m in UFUN: Thai police

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292 people claim to have lost Bt110m in UFUN: police
ANGSUMA SRIDOKKHAM
THE NATION

BANGKOK: -- A TOTAL of 292 people have come forward to file police complaints, saying they suffered losses worth Bt110 million from UFUN Store's alleged pyramid scheme, assistant national police chief Pol Lt-General Suwira Songmeta said yesterday.

He affirmed that police had sufficient evidence of wrongdoing by UFUN, so people did not need to be afraid of filing complaints. He said this case would be given to the public prosecutor to take to court this week.

Police investigators have found that UFUN expanded businesses to four or six other networks, Suwira said. The largest network had 120,000 members and was led by Rathawit Thiti-arounwat, 31, who had been in custody since April 10, he said.

This case so far has seen warrants issued for the arrest of 13 suspects - five of whom were arrested while two others surrendered to police, Suwira said.

Police are looking for six suspects who are believed to have fled the country.

In related news, Bina Puri in Malaysia yesterday issued a clarification about UFUN's purchase of 100 units at the Bangkok Marina Resort and Spa project in Samut Prakan's Bang Bo district.

The Malaysian firm said its associate, Bina Puri Holdings (Thailand) Ltd, had a 20-per-cent share in Bangkok Property Co, which was the project developer, while UFUN had expressed an interest to buy 300 units through UTR Holding Co. So these were reserved at a price of US$50,000 (Bt1.63 million) per unit. But UTR did not collect the 300 units, so the order was cut to only 100 units.

"Bina Puri reiterate that we are not linked with 'U-Tokens' and never participated in any promotion of 'U-Tokens' or any other promotions by UFUN Group or companies related to UFUN."

Source: http://www.nationmultimedia.com/national/292-people-claim-to-have-lost-Bt110m-in-UFUN-polic-30258978.html

-- The Nation 2015-04-29

[Strangebrew]

Hmm UFUN not so fun any more it seems. I have no pity for people who feel they can get something for nothing, or if it sounds to good to be true then most likely it is. But the fact remains I did call out the guy posting on CL offering this openly and called it as I saw it.

[Chao Lao Beach]

But it depends, did it look legit like the Bernie Madoff one that was presented fraudently or was it a get rich quick that all new it was a non sustaining pymarid ?

[Nick167]

Can someone also advise me if this company called Easecox running out of Jasmine Tower at Suk 23 is legit? Seems to be run by Malaysian Chinese and again they are trying to desperately recruit members but seem to have no products. Can the authorities check on this company please and also I wonder if their Malaysian Chinese staff have proper work permits etc.

[Suffinator]

A TOTAL of 292 people have come forward to file police complaints, saying they suffered losses worth Bt110 million from UFUN Store's alleged pyramid scheme, assistant national police chief Pol Lt-General Suwira Songmeta said yesterday.

And no doubt the list will grow as greedy and stupid people come out of the woodwork.

[Ricardo]

Can someone also advise me if this company called Easecox running out of Jasmine Tower at Suk 23 is legit? Seems to be run by Malaysian Chinese and again they are trying to desperately recruit members but seem to have no products. Can the authorities check on this company please and also I wonder if their Malaysian Chinese staff have proper work permits etc.

When in any doubt at all, it's best to steer well clear IME, you might not avoid all the scams but you will avoid more of them !

I hope nobody close to you is invested with them, if you think they should be investigated, and are seeking reassurance from an open forum like this one.

[tonbridgebrit]

Can someone also advise me if this company called Easecox running out of Jasmine Tower at Suk 23 is legit? Seems to be run by Malaysian Chinese and again they are trying to desperately recruit members but seem to have no products. Can the authorities check on this company please and also I wonder if their Malaysian Chinese staff have proper work permits etc.

Any company with Malaysian Chinese staff or Chinese-Thai staff, I'd be highly suspicious as to what they're really about.

[Stargeezr]

When a product called New Skin came to Thailand, I was in Bangkok and went to a talk

at the Landmark Hotel. The reps were saying that the audience should buy lots of their products, as there was

no place in the city that was selling it. The next day I went 3 block north to a mall and seen a new store

with products on the shelves and it was opened 2 days later. I warned a bunch of the Thai ladies that

I had seen from the local area, and saved them from being parted from their hard earned money.

Scams happen all of the time, and there are people who are not cautious enough, others

who are maybe stupid enough to lose their money, and some who just make me wonder how

they have any money at all! But I digress, the world goes round and round.