Jamison Palmer, a central figure in promoting the uFun Club Ponzi scheme to US investors, has recently re-emerged promoting a new venture called Unascos. Palmer, who fled Thailand following an April crackdown on uFun Club, is now attempting to reconnect with his former downlines, presenting Unascos as a continuation.
Palmer aggressively recruited individuals into the uFun Club scheme, which Thai authorities later identified as a billion-dollar international Ponzi operation. He utilized platforms like the "uFun Dominators" Facebook group to pitch the investment opportunity across the United States. His commitment to the scheme led him to relocate from the US to Thailand, where uFun Club maintained its primary operations.
During his time in Thailand, Palmer produced a YouTube video claiming that Thai authorities had officially cleared uFun Club of any wrongdoing. This assertion proved false. Thai law enforcement initiated a significant crackdown on uFun Club in April, issuing arrest warrants for several top promoters and executives.
Upon learning of the pending arrests against his associates, Palmer quickly left Thailand and returned to the United States. He has since been believed to be hiding in Indonesia. After months of silence, Palmer recently posted in a private Facebook group, a channel he previously used to communicate with his uFun Club victims.
In his recent message, Palmer stated he had been "advised not to make any public posts until the situation was sorted out in Thailand." He did not name the source of this advice. He also claimed that the legal situation in Thailand remains "ongoing" and that Dato Danial Tay, another key figure, "is still doing everything he can to work with the authorities in Thailand to get the situation resolved."
Dato Danial Tay, however, has not traveled to Thailand to address the charges against him. Instead, he reportedly remains in Malaysia, promoting Unascos. This new entity is widely understood to be a direct rebrand of the defunct uFun Club, offering a similar investment structure under a different name.
Palmer expressed regret that many of his former recruits felt abandoned, stating, "Nothing could be further from the truth." He attributed the lack of communication to a failed plan for "leaders" to invite their downlines to a new "mastermind group." Palmer also claimed the situation caused him "a great deal of stress," arguing that he always "worked so hard over the years to always do right by people and protect my reputation."
He then asserted that his involvement was "not for the money," adding, "At this stage of my life, I don't do anything I do for the money. In fact, I don't have a need to do anything at all." Such claims are common among individuals promoting fraudulent schemes, often used to deflect accusations of financial self-interest while recruiting new investors.
Victims of Ponzi schemes, like uFun Club, typically lose their initial investments entirely, with early investors paid out from the funds of later participants. The rebranding of a failed scheme into a new one, as seen with Unascos, often targets the same pool of vulnerable individuals, promising recovery or new opportunities that rarely materialize.
The Thai Department of Special Investigation continues its efforts to prosecute individuals involved in the uFun Club scheme, with several high-ranking figures already facing charges or prison sentences for their roles.