Another pay scheme bites the dust.

The Anti-Corruption Commission just filed a case against the Unipay2u scam for corruption.

http://www.thedailystar.net/newDesign/news-details.php?nid=171586

I don't think this one ever made it to the US, but also operates as Unigold2U.

Haha, I was waiting for the shit to hit the fan with these guys, but these kinds of international companies that are not well-established financial institutions are not the types of establishments I would have ANYTHING to do with, and I can't imagine why anyone would mess with them at all. I had no idea there even was an Anti-Corruption Commission, let alone that they went after the chairman and cronies of unipay2u, great find Watchdog. I have to admit I'm sort of wondering how much power the Bangladesh authorities have over the situation, or if the power struggle resembles that of Mexico, where the drug cartels have far more resources than the Mexican Police, and often exercise control over them.

In this case, Unipay2u may appear like a small international operation but alot of times ends up simply being a front for a more serious crime organization, and places like Bangladesh are no exception to organized crime. In fact a group by the name of MS-13 is considered the most dangerous and largest gang in the world, and they have been known to be involved with these kinds of operations. I think its awesome that they have specific-enough proof to nail these guys and smack Chairman Shahiduzzaman for his own bank account with other people's money. I remember reading a profile for these guys not long back and how it was presented as the smartest thing in the world to invest in gold for higher profit against the purchase....it was an obvious scheme and can't see how many people got lured in.

I guess we shall await the ever amusing updates to this story....

Agreed. Can't wait to see what happens to them in other countries.

If you can get your hands chopped off for shoplifting in Saudi Arabia, and drunk driving is a death penalty offense in some countries, what happens if you scam people in a ponzi? Do they stick you in an "opportunity meeting" until the squeaking of the markers on the whiteboard drive you insane?

These guys seem to be toppling faster than a drunk Jenga session. Having recently visited them to see if they were still standing, it appears that most countries have shut them down with the exception of the Philippines, Bangladesh, and India. Here is a link to their web site, where you will see their previous bases of operation, many of which seem to no longer be valid.

https://www.unipay2u.com/Default.aspx

For those of you that didn't know, UniPay2u International is an international company headquartered at Best Genius Sdn.Bhd. (778327-A) 13 A-1, Jalan Solaris, 3, Solaris Mont Kiara, 50480, Kuala Lumpur, Malaysia. Its unknown if the company is still operating there, but that was the official location. UniPay2U was founded in 2007 with a mission to help you "achieve superior returns and manage your wealth and financial affairs by utilizing the most powerful, profitable, private and protected plans and structures - all to achieve your personal and financial goals!". Much of their contact information may or may not be the same, but as of today the same contact info hasn't been updated.

UniPay2U is basically presented as a subsidiary of a foreign investment firm that calls themselves: Best Genius Sdn Bhd Malaysia. I have been unable to find any information on this parent company, and its difficult to say if it actually still exists, with the exceptions of references made by UniPay2U and affiliates, despite there being no official web site, and no contact information.

To make what is already shady; downright dark, the product provided by this company is something you can only own on paper (after purchasing it of course) including the rented storage space which you will also be purchasing in the form of a professional bullion vault. Anyone utilizing the service will have their purchases allegedly stored by Via Mat in Switzerland, United Kingdom, or The United States. The company also claims to provide a means by which to buy, trade and sell with other members via UniPay2U's order board. The sketchy part of this if you haven't already guessed it, is that the gold never moves, you never have it in hand, and it is basically credit. The only thing that can ever change is ownership, should you decide to trade or sell, leaving members with only insurance, and there is no intermediating trust.

I like to include things like the comp plan and the membership packages available, but in this case I'm afraid there is far too much conflicting information about it. It could possibly be because it has operated in various countries which means different currencies and plans etc, but ultimately the mark left by this company overall suggests it is highly unstable at best, and a complete fraudulent scam at worst. To date, I find it difficult to find any credible reports of success (not that it would matter since it would mean a purchase of a non-existent product) while there is an ocean of complaints and grievances, not to mention the fact that several countries have shut them down. When a company is shut down in The United States, you can expect there to be a good reason, when a company is shut down in countries bordering the 3rd world, you better believe there is something bad happening. I'm not so sure whether or not you would reach anyone, but according to UniPay2U, you can reach someone at these phone numbers.

Phone: 0063 62040732

Fax : 006 03 62040731

Hello everyone, I'm surprised to even hear this name at this point in time, I didn't think anyone was reviewing them anymore. Unipay is a prime example of a golden rule breaker in network marketing. Never join a company that doesn't have a product. This is exactly what people are talking about when they say that. A company should never use currency, credit, points or tokens as a product.

A true mlm scam will basically look just like Unipay, a chain of bad references, reports and complaints, a lack of product, conflicting information, and of course countries known to be corrupt actually throwing them out lol. On one hand, I suppose its helpful reviewing companies like this because it keeps those rock people that haven't seen the news in 15 years up to date on whom to avoid in business, but on the other hand you're keeping their search activity fresh.

The Unipay scheme reminds me of SWISSCASH, another scam run by Malaysians. People did receive cash so long as new people were being brought in, but that was the only source of income, we all know how to define that. I think the Swiss operation went down having raked in about $83 million dollars until Malaysia government intervened.

Good rule of thumb. No product=no go.