UniPay2U is a subsidiary of a foreign investment firm known as: Best Genius Sdn. Bhd, located in Puchong Malaysia. It was founded in 2007. UniPay2U provides both gold and gold storage in what they call a professional bullion vault. Individuals who use the service have their purchases stored by Via Mat in Switzerland, United Kingdom, or the United States. The service also allows users to buy, trade and sell with other members via UniPay2U's order board.
Unipay2U brands itself "your golden gateway". According to the Unipay2U website, all UniPay2U users own guaranteed professional grade gold bullion, in standard gold bar form and is stored by Via Mat in a professionally recognised bullion storage facility in Switzerland, the UK or the USA. Unipay2U users are able to buy and sell directly with other UniPay2U users, via UniPay2U's order board. The gold does not move. Only the ownership changes.
Unipay2U's site states that private individuals can use the service to buy, own, store, and later sell, professional grade bullion all at compelling prices usually available only in the professional bullion markets.
Unipay 2U’s mission statement is "To 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!"
Specific information the company, its reps, payment procedures, executive management and origin of the company is virtually non-existent on the various Unipay2U international websites. Many consumer protection and fraud sites have extensive postings about Unipay2U members being undable to withdraw their investments and not receiving promised payments.
In January 2011, The Anti-Corruption Commission of Bangladesh filed a case against the chairman and the managing director of Unipay2U Bangladesh for amassing money by cheating members. Specifically, they were accused of withdrawing investors’ money and depositing it into personal accounts.
Several of the international sites linked on the Unipay2U main website are no longer functional.
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Unipay2U Distributor Charged With Misappropriating Funds
December 31, 2012 -- The Anti-Corruption Commission in Chittagong, Bangladesh has filed charges of misappropriating funds against a distributor of Unipay2U, several of his relatives and a bank official.The accused are Unipay2U distributor Hamidul Haque Manik, his brother Kamal Hossain, sister-in-law Forkan Ara Begum, father-in-law Abdul Gofur, cousin Ayesha Begum and Jahangir Alam, an assistant...
Unipay2U Chairman and Managing Director Sued
June 14, 2012 - The chairman, managing director and three other executives of Unipay2U were sued in Bangladesh on Thursday for embezzlement. The plaintiff in the case alleged that the defendants embezzled his money with the promise of repaying it with double interest within a year. Several fraud cases have been filed against Unipay2U officials after the media reported its illegal financial deal...
Arrest Warrants Issued for 42 UniPay2U Officials
A court in Bangladesh has ordered the arrest of 42 officials of Unipay2U by July 26 on charges of misappropriating funds, including the company's founder and owner, Magandam Gam Gam James. The arrest warrants were ordered after six plaintiffs filed cases against UniPay2U, alleging that its executives had embezzeled their money while promising to pay them back double the amount within 10 months....
Another Unipay2U Director Arrested
May 28, 2012 -- Unipay2U director Khondoker Mukit Al Mahmud was arrested in Bangladesh today and charged with defrauding investors. Mukit claimed innocence, saying that he joined Unipay2U seven months after the government froze the company's bank accounts. The company was ordered to suspend operations in January last year after hundreds of investors accused the company of fraud and demanded their ...
Unipay2u Execs Arrested
The managing director and general manager of Unipay2u have been arrested on charges of cheating and embezzlement in Dhaka.Muntasir Hossain Emon and Jamshedur Rahman of Unipay2u Bangladesh were remanded into custody on Sunday for their roles in Unipay2u. According to reports, on several occasions the chairman and managing director withdrew large sums of money from the company accounts under the ...
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