UFunstore Co Ltd (Ufun) has denied that it has any links or association with Nazifuddin Najib, the son of the Malaysia's Prime Minister, Najib Abdul Razak.

In a statement today, the company claimed such allegations were fabricated.

“We strongly believe there are certain irresponsible individual(s) who have been deliberately feeding misleading information to the Thai media, linking Mr Nazif Najib to Ufun with ill intentions, to cause mischief and confusion to the public at large,” said the statement.

 

Last week, Nazifuddin ( photo ) denied he or his previous company, Sagajuta Sdn Bhd, had any links with Ufun.

The Bangkok Post had previously reported that Thai police estimated that Ufun, through its multi-level marketing scheme and Utoken crypto-currency, has cheated some 120,000 people of

a sum of up to RM4.1 billion.

 

Ufun members sell Utoken, a digital currency, which ostensibly could be used to pay for goods and services.

 

UFun Group executive chairman Tay Kim Leng was also reportedly wanted by the Thai authorities.

 

Regarding to allegations that the company was running Ponzi schemes, Ufun said they were preparing to take legal action against “attacks to the company.”

 

“We maintain that we are a company dealing with genuine businesses and in order to protect the interests of our worldwide members, we will take necessary action to dispel such unwarranted attacks on our company.

 

“We have instructed our team of lawyers to carry out investigations to ascertain the perpetrators who had deliberately spread such irresponsible and false rumours ,so as to cause uneasiness and embarrassment to the respective parties concerned,” said the statement.

 

The Bangkok Post had previously reported that the Thai police estimated that the transnational online sales company Ufun Group Bhd Ltd, through its multi-level marketing scheme and Utoken crypto-currency, has cheated some 120,000 people of a sum of up to RM4.1 billion (38 billion baht).