Nicolas Giannos, a UK-based investor in the uFun Club scheme, met with Samoa’s deputy prime minister in early May, fueling speculation that the organization might be considering a move from Malaysia to the Pacific nation. Giannos claims Samoan officials expressed "major interest" in uToken and the uFun group during these discussions.
Giannos’ visit to Samoa followed a uFun Club event in Malaysia. He reported meeting with the deputy prime minister on May 4th and subsequently with representatives from the Central Bank of Samoa on May 6th. These meetings were reportedly followed by a dinner with the deputy prime minister on May 14th.
The following day, May 15th, Giannos claims to have presented uFun Club and uToken to Samoan Prime Minister Tuilaepa Aiono Sailele Malielegaoi. He then made a similar presentation to the Governor of the Central Bank of Samoa on May 15th. The exact authority under which Giannos conducted these presentations, and the explicit nature of the discussions with Samoan officials, remain unclear.
Meanwhile, another uFun Club investor, Lyn Summers, indicated on Facebook on May 11th that she had attended a meeting with Daniel Tay, uFun Club’s Marketing Director, discussing a "secret" next project. Summers, who claims to have invested $500,000 in uFun Club, described the project video as costing $100,000 USD to produce and called it one of the biggest in its country, though she was bound by a non-disclosure agreement. Summers frequently shares Giannos’ updates online, and he reciprocates.
The same day Giannos was presenting to the Central Bank of Samoa's Governor, authorities raided a branch of UDBP Bank in Thailand. Ufun Club and UDBP Bank entered into an agreement in 2014. Investigators suspect the Vanuatu-based UDBP Bank has been used to launder millions of dollars from Thailand, with funds allegedly passing through Vanuatu and Malaysia. Daniel Tay reportedly went into hiding yesterday.