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Jan 6, 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.
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.
May 17, 2016 · Guilty As Charged: Sunshine Empire duped investors of millions with Singapore’s biggest Ponzi scheme. Self-styled entrepreneur James Phang Wah promised huge returns through his firm’s...
1 day ago · James Phang Wah, founder of multi-level marketing company Sunshine Empire, cheated about 20,000 Singaporeans of more than $180 million in the country’s biggest Ponzi scheme in 2006.
Dec 20, 2017 · Phang, who was released from Singapore prison in 2017 for a Ponzi scheme, was brought to Malaysia to face two charges of accepting deposits without a license. He allegedly took RM230 million from investors in 2006 and 2008.
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.
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 […]
