Thai police track ‘Datuk’, two other Malaysians over illegal pyramid scheme

GEORGE TOWN: Thai police are hot on the heels of three Malaysians including a “Datuk” who are alleged to have cheated some 100,000 people worldwide, including thousands of Thais, of some 20bil baht (RM2.25bil) through a pyramid scheme.

Royal Thai Police are currently looking for the people behind UFUN Store Co Ltd, including the business’ 40-year-old executive chairman “Datuk Daniel” and its two directors, aged 38 and 42.

The Nation reported that arrest warrants were issued came following a police raid at the company’s headquarters in the Bang Na district in Bangkok recently. Four company’s executives, aged 34 to 40, were arrested recently on charges of embezzlement, the Thai daily reported.

It also quoted Assistant National Police chief Lt-General Suwira Songmetta as saying that authorities had confiscated a number of computer servers from the head office and that many documents that could be used to link the executives to the scam were found.

Luxury cars including a BMW i8, designer handbags and luxury watches were also confiscated.

On Thursday, police arrested the company’s accountant while she was in the midst of fleeing to Laos.

The Nation reported that the woman told police that she tried to quit the business after noticing irregularities and informed other members of her suspicions.

UFUN then suspended her account and she could no longer conduct any transactions or withdraw money.

Thai police also discovered that the woman had purchased a house in the Bang Khen district worth at least 24mil baht (RM2.6mil) and a Toyota Alphard.

In an official video posted on the Utoken Forum page, “Datuk Daniel”, with two gold coloured pyramids on his table, claimed that he is now in Kuala Lumpur.

“We have been in the market for more than two years, not a newly set up company. The company would’ve been in trouble much earlier if we were really cheaters.

“UFUN has more than 10 offices worldwide and members from more than 80 countries. We have no intention to cheat our members’ hard earned money.

“We are ready to cooperate with the authorities and the Thai government and provide information needed to clarify that we are innocent,” he said in the video.

He added that UFUN was in a “transformation period” now as new business models in the market were difficult to be accepted by the government and authorities.

He also claimed that he would try his best to pay back the members.

A check on the company’s official website showed that it had since been suspended.

Penang Commercial Crime Investigations Department chief Asst Comm Azmi Adam when contacted on Saturday said no reports over UFUN Store Co Ltd have been lodged in Penang so far.