KUALA LUMPUR, May 15 — Mohd Nazifuddin Najib, the son of Prime Minister Datuk Seri Najib Razak, today denied any links between Sabah-based property developer Sagajuta Sdn Bhd and controversial multi-level marketing company Ufun, amid a bilateral crackdown on the latter company for allegedly cheating over 100,000 people worldwide.
Mohd Nazifuddin, who served as chairman of Sagajuta until he stepped down in 2012, said there is no basis for the allegation, which was raised by whistleblower website Sarawak Report yesterday.
“There is no link between Sagajuta and Ufun. When I was in Sagajuta, I also never met anyone from Ufin,” he was quoted as saying by news portal Malaysiakini.
Mohd Nazifuddin said he first heard of Ufun — which reportedly operated out of Thailand — when he was invited to the launch of a joint-venture deal between Ufun and another Malaysian developer, Bina Puri Holdings Bhd.
He admitted that he initially considered attending the launch, but changed his mind after he heard that “they were selling my name” to convince potential investors to put their money into Ufun’s Utokens, a form of electronic currency used by the company allegedly to run a ponzi scheme.
“This was why I lodged a police report,” he said, referring to a police report he lodged against Ufun some three years ago.
The Bangkok Post earlier reported that Ufun had allegedly cheated around 120,000 people of an estimated RM4.1 billion through a multi-level marketing scam based on the Utoken currency, according to Thai police.
