Unaico Review and History
Information on the Unaico discontinued direct selling program.
Unaico Overview
Unaico no longer appears to be active as a direct sales company.
Its direct-selling operation was transferred to The Opportunity Network (OPN) in May 2012, while SiteTalk continued as the consumer-facing social-networking platform.
Original Npros business profile for Unaico, preserved below for archival purposes:
Unaico was an international network-marketing company founded in 2009 by Jarle Thorsen, with Rune Evensen serving as CEO and Dan Andersson as president. The business operated alongside SiteTalk, a social-networking and e-commerce platform intended to generate retail activity for the Unaico distributor organization. Unaico maintained operations and support offices across Europe and Asia, including Singapore, Hong Kong, Germany, Slovenia, Latvia, and the United Kingdom. A UK Unaico Limited entity was incorporated on August 12, 2009 and was dissolved through compulsory strike-off on January 17, 2012.
The business combined social networking, e-commerce, travel, telecommunications, education, entertainment, and other services. Products and services marketed through the SiteTalk/Unaico ecosystem included SiteTalk Travel, SiteTalk Games, SiteTalk SIM, SiteTalk Vacation Club, the Oxford Programme, coffee and nutritional products, and thousands of third-party products available through its online shopping platform. Free SiteTalk members received a dormant Unaico position, while participants who wanted full access to the compensation plan could purchase Starter, Bronze, or Gold packages priced at approximately â'Ã'¬149, â'Ã'¬500, and â'Ã'¬2,000.
Unaico used a binary compensation plan based on Business Volume generated through purchases. Participants could earn direct sales commissions, binary team commissions based on volume in their weaker sales leg, and matching bonuses extending through as many as seven levels. Higher-priced membership packages increased weekly earning limits. Unaico also promoted investment and ownership concepts connected with the future value of the business and SiteTalk, creating a financial component that went beyond ordinary retail network marketing.
Regulatory problems became a significant part of Unaico's history. On September 14, 2010, Austria's Financial Market Authority warned that Unaico Ltd., identified with the Enigro Group, was not authorized to provide investment advice or receive and transmit orders involving financial instruments in Austria. Unaico challenged the warning, but Austria's Administrative Court rejected the appeal. In September 2015, Hong Kong's Securities and Futures Commission also placed Unaico Holding Ltd. and Unaico Ltd. on its alert list as unlicensed entities and stated that the companies were not located at the Hong Kong address they had provided.
Unaico faced much more serious proceedings in Pakistan. An Islamabad High Court judgment records that Dan Gunnar Bjarne Andersson incorporated Unaico Pakistan (Pvt.) Ltd. in March 2012, owned 99% of the company, and used it to solicit public investment in a business that was outside the purposes authorized by its corporate documents. Pakistan's Securities and Exchange Commission initiated proceedings and the National Accountability Bureau opened an inquiry. Andersson and fellow director Atif Kamran subsequently offered a voluntary return of Rs.98.012 million. The court stated that members of the public had invested their savings and "were thus defrauded," and more than 2,000 additional claims were later submitted to authorities.
On May 12, 2012, Unaico's direct-selling operation was formally transferred to the new OPN ââ'¬" The Opportunity Network identity. Rune Evensen continued as CEO, and SiteTalk remained the social-networking and shopping platform supporting the opportunity. OPN continued for several more years before its network was moved into OneCoin in 2016. Unaico itself did not return as an independent MLM company. Unaico.com is now parked and offered for sale.
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Unaico Owners, Executives and Executive Consultants
Jarle Thorsen, Founder
Rune Evensen, Chief Executive Officer
Dan Andersson, President
Frank Ricketts, Vice President
Haarek Andreasson, Chief Operating Officer
Kenny Nordlund, Global Marketing Director
Unaico News
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