rijit Posted April 10, 2015 Share Posted April 10, 2015 I saw this coming and tried to warn a few of my good friends with extensive research which I felt was not read given the swift replies I got. They are now Thousands lighter. I feel sorry for them and it taught me to always welcome and contemplate free advice. When have Ponzi Schemes EVER been a good idea? whats a `ponzi scheme`?Sent from my GT-I9000 using Thaivisa Connect Thailand mobile app Link to comment Share on other sites More sharing options...
TheAppletons Posted April 10, 2015 Share Posted April 10, 2015 I saw this coming and tried to warn a few of my good friends with extensive research which I felt was not read given the swift replies I got. They are now Thousands lighter. I feel sorry for them and it taught me to always welcome and contemplate free advice. When have Ponzi Schemes EVER been a good idea? whats a `ponzi scheme`?Sent from my GT-I9000 using Thaivisa Connect Thailand mobile app "A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent." http://en.wikipedia.org/wiki/Ponzi_scheme Link to comment Share on other sites More sharing options...
cliffly Posted April 10, 2015 Share Posted April 10, 2015 I saw this coming and tried to warn a few of my good friends with extensive research which I felt was not read given the swift replies I got. They are now Thousands lighter. I feel sorry for them and it taught me to always welcome and contemplate free advice. When have Ponzi Schemes EVER been a good idea? whats a `ponzi scheme`?Sent from my GT-I9000 using Thaivisa Connect Thailand mobile app Easier for you to quickly google it than for me to explain it. Link to comment Share on other sites More sharing options...
Naam Posted April 11, 2015 Share Posted April 11, 2015 Thai management of UFun in Bangkok was arrested today charged with running a Ponzi scheme... Lots of Thais are freaking out over their UTokens. because their tokens were taken. Link to comment Share on other sites More sharing options...
Countryman Posted April 11, 2015 Share Posted April 11, 2015 So did the OP manage to get his money out before this scam was shut down, it amazes me how these scams can still suck people and their money in,I suppose greed must blind them, and freeze their brain cells. A few years ago I had my Thai Neighbour, a businessman called around my house, he was very excited at thought of some easy money, in his hand he had a fax from someone in Nigeria,saying if he could help this government official get his ill gotten gains out of the country,he would benefit from 20% share of the Millions,but first as his money was all frozen,he need 10,000 dollars to grease the wheels,to free the money.please wire the money to xxxxxxxxx . I explained to him this was a Nigerian 419 scam,and to burn the fax and forget he ever seen it,he took a lot of convincing,If i had not been his neighbour,maybe he would have become a victim of his own greed. relax Countryman 1 Link to comment Share on other sites More sharing options...
Estrada Posted April 11, 2015 Share Posted April 11, 2015 Dear Tonika, Please take your money out of this. No good is going to come of it. how come you are so sure about it? UFUN is here to stay. We all will keep earning no matter what you keep saying! They just shut it down and arrested most of these crooks. It was a B12Billion Baht scam. Link to comment Share on other sites More sharing options...
topt Posted April 11, 2015 Share Posted April 11, 2015 Hi Montereyjp, The fact that there are no English articles about Utoken / Ufun does not say much. Find someone to do a search in Chinese or Thai for that matter and there will be quite a lot. Sure you will also find many people arguing it "must be the latest scam". To all their own but from the many comments I have seen both here on TV and other forums, the Nae Sayers are mostly ill informed people. Ufun is the real thing. They are listing their IPO on the London Stock Exchange this year and Nadaq next year. There are real banks baking them and real projects in which they are involved in. Their conventions are attended to by thousands of people (in October by more than 10,000). They are opening two offices in the USA and own other offices in Asia. They own a TV station and media house. They are met by politicians, dignitaries and royal families from across the world. They have made some very rich people and there is no questioning any of this. It's all publicly available information. I am a member of Ufun and own Utoken. I invested a small amount of money so that if the Nae Sayers are correct then I only loose what I can afford. I do my research and joined sites like UtokenForum. I ask some tough questions. Iwas a super sceptic some time ago, so I am not being critic of sceptics here or anywhere. My point is don't just dismiss it because it looks "too good to be true". Check it out and ask around but ask the correct questions. Ultimatly, anyone who cannot ask will remain out of the game and if this goes big - or should I say when - then you will be regretting it for the rest of your life. I think it has gone "big" in a different way to what you suggested. Any regrets? Link to comment Share on other sites More sharing options...
wordchild Posted April 11, 2015 Share Posted April 11, 2015 (edited) the B post (todays) has an article on this for those who have not seen it; unsurprisingly the whole thing looks like a complete scam from start to finish; hopefuly those who got caught by it will be able to chalk this one down to experience and move on. Edited April 11, 2015 by wordchild Link to comment Share on other sites More sharing options...
craigt3365 Posted April 12, 2015 Share Posted April 12, 2015 A news report is here: POLICE YESTERDAY arrested three people after a series of raids in Bangkok over an alleged scam that duped more than 100,000 people involving some Bt10 billion.Police seized Bt250 million worth of assets yesterday and said the raids were linked to a company, U-Fun Store, whose manager Ritthidej Warong, 39, was nabbed in Kannayao district. He rejected the allegation.U-fun Store was registered as a direct sales marketing company but was allegedly involved in pyramid schemes. http://www.thaivisa.com/forum/topic/816526-police-crack-down-over-bt10-bn-pyramid-scam/ Since this has been determined to be an illegal business, best we close down this thread and continue discussions in the one above. Topic Closed. Link to comment Share on other sites More sharing options...
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