Prior to the regulatory shutdown of uFun Club, you’d be hard-pressed to find promotions for the scheme that 
didn’t
mention supposed investment and partnership with Bina Puri.

One of the largest construction firms in Malaysia, Bina Puri operate the the Bangkok Marina Resort & Spa through a local Thai subsidiary.

Back in 2013 uFun Club laundered 17 million THB ($525,000 USD) through the firm, buying a 29 percent stake in Bina Puri’s Thai subsidiary.

A UFUN branch, UTR Co, also bought 100 units worth Bt150 million in the Bangkok Marina Resort & Spa Project, he added.

Despite buying in for 29 percent and dropping $4.6 million USD on resort units though, uFun Club

didn’t send anyone to represent it on the board, leaving it with no participation in the company’s management.

So why did they invest in the subsidiary?

Precisely so that uFun Club investors could run around the internet claiming that the scheme was in a partnership with Bina Puri.

So the flawed mantra went, if Bina Puri was one of the largest construction firms in Malaysia, how could uFun Club be a Ponzi scheme?

Flashy images of the Bangkok Marina Resort & Spa accompanied the claims, with these actions now landing uFun Club in hot water.

Yesterday saw Bina Puri file an official police complaint in Thailand, specifically referencing uFun Club and its investor’s misuse of their company name.

Pairat Chanchaikaew, an advisor to Bina Puri, explained to Thai media,

UFUN had used the company’s pictures and logo to promote its various activities and advertising, leading to damage to (the) company.

We had previously warned UFUN not to do this and had filed a police daily record of it.

After the UFUN fraud allegations broke and resulted in arrests, damage was caused to Bina Puri’s reputation in Malaysia.

Its credibility and reputation were being used by UFUN so (we) filed the police complaint.

The company would compile evidence for legal action against UFUN later on.

What will come of the complaint remains to be seen.

In other uFun Club news management appear to have now abandoned their investors.

Chairman Daniel Tay (aka Tay Kim Leng) appeared in a YouTube video yesterday, in which he stated he would no longer be making public appearances or media interviews.

Tay,
appearing sweaty and uncomfortable
, urged other uFun Club management executives and leaders to do the same.

Tay stressed that the company would only communicate with investors, the media and the general public through their lawyers.

The whereabouts of Tay and his fellow uFun Club management remain unconfirmed. They are however believed to be hiding out in Malaysia, with warrants recently issued for their arrest in Thailand.

Tay was supposed to front a press-conference yesterday, with members of the Thai media flown in by the company to attend.

The conference was to clear the air as to the legality of uFun Club, with management explaining to reports why uFun Club scheme wasn’t the $1.17 billion dollar Ponzi schem

🤖 Quick Answer

What was the nature of uFun Club's investment in Bina Puri?
In 2013, uFun Club laundered 17 million Thai Baht through Bina Puri, acquiring a 29 percent stake in the company's Thai subsidiary operating Bangkok Marina Resort & Spa. Additionally, UTR Co, a uFun branch, purchased 100 resort units valued at 150 million Baht in the Bangkok Marina Resort & Spa Project.

Did uFun Club participate in Bina Puri's management?
Despite investing significantly and acquiring a 29 percent stake, uFun Club failed to send representatives to Bina Puri's board of directors, resulting in no meaningful participation in company management decisions or operations.

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