UPDATED 10:52 A.M. EDT U.S.A. The Colorado Division of Securities said it “will look into the extent” of promotional ties the UFunClub “program” now under investigation in Thailand may have in the state.
Whether other U.S. states would follow Colorado’s lead was not immediately clear. Earlier cross-border MLM/network-marketing schemes such as Profitable Sunrise and WCM777 met stiff resistance from state-level regulators.
The dollar volume of UFunClub’s alleged fraud may be mushrooming. Early reports pegged it at about $307 million (U.S.). Citing Thailand police, the Bangkok Post yesterday reported the sum could rise to 38 billion baht, the equivalent of more than $1.17 billion (U.S.).
If the number holds, UFunClub would rival in dollar volume the $1.8 billion TelexFree scheme shut down by the U.S. Securities and Exchange Commission in 2014 and surpass the $897 million allegedly collected by the Zeek Rewards scheme before its 2012 shutdown by the SEC.
Prior to Monday, the Colorado Division was unfamiliar with UFunClub, said Lillian Alves, Colorado’s Deputy Securities Commissioner.
Some UFunClub promoters have claimed that Jamison Palmer, a purported UFunClub “VIP,” moved from Colorado to Asia to promote the “program” and a companion digital currency known as “UToken.”
Palmer, according to posts attributed to him online, has claimed UToken is the “future” of digital currency. He further has claimed the United States is using the “dollar” and its “banking system” to “blackmail the rest of the world.”
Palmer’s full name is Michael Jamison Palmer. He is associated with several Colorado businesses and has used a Colorado Area Code and addresses in Centennial, Broomfield and Superior. He has not been accused of wrongdoing.
These Palmer businesses include Max Response LLC, Red Spider Media LLC, Insider Secrets Club LLC, MasculineLife, a magazine for men, and Woman’sLife, a magazine for women.
On April 19, the PP Blog reported that an individual who spoke on an April 14 conference call for a “program” known as SVM Global Initiative made a veiled reference to UFunClub during the SVM call. The person identified himself as “Nelson” and said he was calling from “Saskatchewan, Canada.”
Before getting off the SVM line, “Nelson” described the United States as “the Republic of the United States of America.” It is a term associated with “sovereign citizens.”
SVM operator Sheila V. Tabarsi has claimed she is under investigation by the FBI. She also has claimed the “Bush administration” had the aim of shutting out 99 percent of the world population from wealth flows.
Tabarsi conducted another SVM call on April 20.
During this call, she claimed to be a “professional intuitive” — a fancy name for a psychic.
She also repeatedly dropped the name of U.S. Secretary of State John Kerry, and also the name of Ruth Hassell-Thompson, a state Senator who represents the Bronx in New York.
SVM may operate in part from the Bronx and Manhattan.
During her business career, Tabarsi said, she became “one removed” from Kerry, and “John Kerry was helping with, you know, with whatever my needs were as I was in the process of developing this further . . . That’s Secretary of State John Kerry.”
It is not unusual for MLMers/network-marketers to drop the names of famous people or members of the government as a means of creating a veneer of legitimacy for a scheme. (As just one example, Zeek Rewards clawback defendant T. LeMont Silver, in a 2014 promo for a Bitcoin-themed scheme known as BitClub Network, dropped the names of California Gov. Jerry Brown, “China’s Central Bank Governor” and Gerogy Luntovsky, “deputy chairman of the bank of Russia.”)
At one point, Tabarsi referred to Kerry as just plain “John,” almost as though she could pick up the phone and get him on the line with no trouble at all.
Tabarsi further contended that she had the ability to read minds over the Internet, perhaps particularly the minds of SVM critics who’ve raised questions about the “program” on Blogs such as BehindMLM.com, which covers emerging MLM schemes.
“I used my own abilities as an empath and a telepath to read their body and read their feelings and read their minds and hear what they’re really thinking behind what they’re saying,” she claimed.