 |
| This is the office of Uni-Argrow Plan, Segambut, Kuala Lumpur. |
MEMORANDUM
OF UNDERSTANDING GIVEN TO DR. NIXON YAP, THE CHIEF EXECUTIVE OFFICER OF THE
UNI-ARGROW SERIES 0809 BY UNIARGROW INVESTMENT SETTLEMENT AD HOC COMMITTEE ON
18 AUGUST 2014.
By Hand
We are members
of the abovementioned committee who stand to represent the whole body of the
investors, are well aware that you are the initiator and the Chief Executive
Officer of the Uni-Argrow 0809 Series to which we have invested and that you
called us your Joint Holdings Partners of this plan. We would like to draw your
attention on several issues that has happened recently as below:
1.
We
understood from the beginning that you are going to pay out 30% of the principal
as dividend yearly and that upon expiry of the 3 years investment period the
principal will be refunded. This has been the major selling point of this Plan
and such was preached in all the sales talks and power-point presentations. But
from December 2013 until now, even though the dividends were still credited to
our respective accounts, they were not able to withdraw to our bank accounts.
Only figures were shown but withdrawal cannot be realized. Some of us has
accumulated as much as USD50,000 in their accounts.
2.
Also,
some of us who have matured investments when asked for refund were not heeded.
3.
We
also understood that some of us signed up as Portfolio Advisors and when we
brought in the business for you, they will be paid certain amount of commission
or bonuses. We have seen the commissions or bonuses credited to our web account
but just like the dividends, were not able to withdraw to our bank accounts
since December 2013.
4.
We
were told and understood that this investment plan mentioned above is protected
by a Latin American Private Interest Foundation and that a Latin American
Foundation known as Latin American Foundation was appointed by you to act as
the custody of all Joint Holdings Partners’ accounts, but during the past nine
months or so we were not contacted by any Latin American Private Interest
Foundation to inform us of the financial and our account situation. Moreover,
you have previously put up some write-up about Latin American Private Interest
Foundation on the official website, but this was taken down completely, not a
word about capital protection remains. All these was done quietly neither have
you informed us nor does you announce it on the website as why you took such an action. Therefore you has
caused fear and worry among us, and generally we look at this way: the
investment has collateral protection in the beginning but now it does not have
the protection any more.
5.
In
the Agreement you stated that you will maintain a Holdings Account on the
investors behalf at the Latin American Private Interest Foundation for the safe
keeping of the investors’ Holdings, if this is so why you did not pay out the
refund when the investment expired and
we requested for refund?
6.
Moreover,
during the beginning of August 2014, you have taken a drastic step to close
down many of the investors web accounts without giving any reason. Since you
have not given any reason we will explain the matter as our investment has become
invalid and that all our investment moneys were forfeited. This has caused a
deep sense of worry and anger among the investors.
7.
When
this Plan was newly launched, you mentioned that Unicap Asia was appointed to
be the Fund Manager of this plan, but later on, the name Unicap Asia was
removed from the list of Hedge Fund Association, and then from the official
website home page even though Unicap Asia logo is still there, but the link to
the site of Unicap Asia is broken. Initially we made the decision to invest in
this plan is partly because we trust that Unicap Asia is a licensed hedge fund company and
possess money taking license, later on if this condition is no more valid we
should be given the choice to choose whether we still want to keep our
investment or otherwise. You should have notified us of the change but this was
not done.
8.
And
on the 16th August 2014, you have gone one step further by suddenly
and without prior notice, taking down the website (url: http://www.argrow.biz/Member/index.aspx) which is the platform for
transactions to take place, where our investment history recorded, transaction
accounts shown, and all our dividends and earnings tabled, and also from which
we can withdraw our dividends and Portfolio Advisors’ bonuses to our bank
accounts.
9.
Due
to the above mentioned reasons, we have formed a committee known as the
Uniargrow Investment Settlement Ad Hoc Committee to represent the whole body of
the investors, and after lengthy consultation in our WeChat Group, have resolved
to convey to you our collective decision as follow:
10.
We
want you to refund ALL THE INVESTMENT MONEYS we have invested into this plan and
pay out ALL THE DIVIDENDS as well as ALL OUR EARNINGS as PORTFOLIO ADVISORS accrued
so far, thus terminate all our Agreements with you. We have no trust in this
Plan anymore and will never recommend it to others. We do not want to accept
any other settlement scheme besides this, but we can negotiate on the details of
it if you agreed to this proposal.
11.
We
want you to reply us within 7 days from the date mentioned above by emailing your
decision to the committee members of this committee as attached.
12.
We
urge you to take positive action to refund our investment and earn the hearts
of one thousand men and women who were once your staunch supporters, otherwise
the future of this plan is in fact bleak and unpredictable.
SIGN BELOW:
REPRESENTATIVES OF UNIARGROW INVESTMENT SETTLEMENT AD HOC
COMMITTEE:
RECEIVED
BY : (ON BEHALF OF DR. NIXON YAP)
