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May 18, 2016 · It is a scam in which investors are promised high rates of return, but with little risk. The returns come from the funds put in by new investors. Earlier investors may see some returns, but...
Jan 8, 2018 · The fraudster had set up an elaborate Ponzi scheme that swindled 20,000 Singaporeans - including students and retirees - out of nearly $190 million. Only $21 million was ever recovered. Phang was...
Mar 29, 2021 · Through Sunshine Empire, thousands of unsuspecting Singaporeans had purchased close to 26,000 “lifestyle packages” ranging from S$240 to S$12,000 for 15 months between Aug 2006 and Nov 2007, lured by the promise of high returns at little to no investment risk.
Jan 6, 2018 · SINGAPORE - Retired electrician Choo Lai Chong thought he was onto a sure thing when he invested thousands of dollars in the Sunshine Empire business years ago, but his hopes for an easy...
After investigation by the Commercial Affairs Department (CAD) of the Singapore Police and a court trial, Sunshine Empire's Directors were charged with and found guilty of fraud, criminal breach of trust and falsifying accounts.
Dec 20, 2017 · His Multi-Level Marketing (MLM) company, Sunshine Empire, lured Singaporeans into handing over nearly $190 million.
Dec 21, 2017 · A day after his release from a jail sentence in Singapore for fraud, the former director of multi-level marketing (MLM) company Sunshine Empire was charged in a Kuala Lumpur court for allegedly...
Mar 30, 2019 · James Phang, the mastermind of the Sunshine scheme, received the heaviest sentence with a 9-year jail sentence and $60,000 fine. Phang’s 46-year-old wife, Neo Kuon Huay was also fined $60,000 while their other partner, Jackie Hoo Choon Cheat was sentenced to seven years’ jail.
Mar 29, 2021 · One of the questions asked if a victim of the Sunshine Empire scam can recover the lost money, to which the CAD answered: “We need to comply with the legal requirements for disposal of the seized monies. These funds cannot be dealt with pending court proceedings.”
Sep 5, 2022 · Sunshine Empire Scam 2022. Question. Hi all, My family and I just received a letter from Sunshine Empire requesting for supporting documents for the investment made years ago. Just curious if anyone else has received it?
