Telexfree
Search results
Sunshine Empire was a Multi Level Marketing (MLM) company, set up in 2006, based in Singapore. It is now defunct, with assets frozen by the Singapore Court. The company is listed by the Singapore Government's Monetary Authority in its Investor's Alert List, for possibly running investment schemes without authority.
Jan 8, 2018 · SINGAPORE - Ten years ago, the police raided James Phang Wah's plush office suite in Toa Payoh and brought his Sunshine Empire crashing down. Read more at straitstimes.com.
May 18, 2016 · The Sunshine Empire (2006) Guilty As Charged: Sunshine Empire duped investors of millions with Singapore’s biggest Ponzi scheme. Self-styled entrepreneur James Phang Wah promised huge returns...
Dec 20, 2017 · His Multi-Level Marketing (MLM) company, Sunshine Empire, lured Singaporeans into handing over nearly $190 million. In July 2010, he was sentenced to 9 years in prison and fined $60,000 for ...
Mar 29, 2021 · While the masterminds behind multi-level marketing company Sunshine Empire — dubbed as Singapore’s biggest Ponzi scheme — were eventually prosecuted and convicted for their fraudulent dealings, it remains uncertain as to whether all of the victims of the elaborate scam could recover their money.
May 13, 2020 · James Phang Wah, the founder and head of Sunshine Empire, was sentenced to nine years' jail and a $60,000 fine for criminal breach of trust. PHOTO: ST FILE
Mar 30, 2019 · The trial of Sunshine Empire founders James Phang Wah, his wife Neo Kuon Huay, and ex-director Jackie Hoo Choon Cheat is currently underway as they are charged by the public prosecutor of running a Ponzi scheme. Within a period of just 15 months, Sunshine Empire managed to raise $180 million from investors enticed by the […]
Mar 29, 2021 · Sunshine Empire was charged in Malaysia in March 2009 under the same act for accepting deposits from the public without a valid licence. The company pleaded guilty and was fined RM2 million in June 2010. Jackie Hoo Choon Cheat, Sunshine Empire’s director, was handed a seven-year jail term in Singapore.
Dec 19, 2011 · Sunshine Empire was the largest Ponzi in Singapore, but it wasn’t the first, and it was by no means the last. Singapore’s retail financial regulatory system is explicitly run on the principle of caveat emptor, and consumers are expected to be able to make their own judgments about investments.
The masterminds of the ponzi scam Sunshine Empire were sentenced last week. James Phang, the mastermind of the Sunshine scheme, received the heaviest sentence with a 9-year jail sentence and $60,000 fine.
