Sunshine Empire’s James Phang gets 9 year jail sentence

[CoffeeAhSoh]

GENTING jingwumen James Phang








http://www.ifa-sg.com/sunshine-empires-james-phang-gets-9-year-jail-sentence/


Sunshine Empire’s James Phang gets 9 year jail sentence

WRITTEN BY: TIANG CHUAN ON JULY 31, 2010


The law has caught up with Sunshine Empire’s mastermind James Phang. Phang who was sentenced to 9 years’ jail term and $60,000 fine. Phang’s wife, Neo Kuon Huay was fined $60,000. Former director Jackie Hoo Choon Cheat was sentenced to 7 years’ jail. The trio will be appealing against their convictions. These were reported in the 31th July 2010 edition of The Straits Times.

The Sunshine Empire collected $180m from selling 26,000 packages. James Phang collected more than $7m in “consultancy fees’ while Jackie Hoo got about $950,000. James Phang’s wife was paid $950,000. However, there is bad news for the thousands of investors – they are likely to get little nothing back and only $21m have been recovered.

In a Straits Times report on 24th October 2007, James Phang was quoted as saying “I’m a legend – better than Warren Buffett“. In another report on 15th Nov 2007, Sunshine Empire’s spokesman Mr Kegan Lee said that “company executives would be most happy to meet CAD officers to explain its business activities” after CAD started investigations.

Sunshine Empire will certainty not be the last of the scams to go bust. It is just one out of the many scams out there. Some of them are mocking the legal system here saying that there are operating a legal business since the authorities in Singapore, a country with strict laws, are allowing them to operate here. The CAD certainty have its work cut out if there are serious in stamping out such fraudulent schemes in Singapore.

 

[Narong Wongwan]

Why repost old news?
Anyway James phang is eagerly awaiting Con Hee's arrival.....they are hatching the next big get rich scheme in prison

 

[CoffeeAhSoh]

History of Sunshine Empire & James Phang Wah ???? GrandElitia







http://en.wikipedia.org/wiki/James_Phang_Wah


http://www.cad.gov.sg/content/cad/en/faq/cases/sunshine-empire-pte-ltd.html

http://news.asiaone.com/News/AsiaOne+News/Singapore/Story/A1Story20111213-316010.html


Sunshine Empire duo start serving jail sentences

The brains behind MLM company Sunshine Empire have surrendered themselves at a district court to start serving their jail sentences for fraud. -AsiaOne

Tue, Dec 13, 2011
AsiaOne

Sunshine Empire founder James Phang Wah arriving at a district court yesterday.
SINGAPORE - The founder and the former director of multi-level marketing (MLM) company Sunshine Empire have surrendered themselves at a district court to start serving their respective jail sentences for fraud.

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The MLM company sold "lifestyle packages" promising high returns. However, the "investment returns" were generated from new members signing up, rather than genuine profits.

The Straits Times reported that James Phang Wah, 51, the founder of the firm, was sentenced to nine years in jail and fined $60,000.

Jackie Hoo Choon Cheat, 31, the company's former director, was sentenced to seven years behind bars.

The start of the sentences for Phang and Hoo were delayed for them to settle their personal and business affairs and spend time with their families.

The two were convicted last year. They subsequently appealed, but the appeal was dismissed by the High Court last month. However, Phang has asked his lawyer to apply for permission to take his case to the Court of Appeal, arguing that it raises questions of law and public interest.

According to court papers, Sunshine sold almost 26,000 packages from August 2006 to October 2007, earning $180,000.

Phang reportedly received more than $7 million in "consultancy fees". Hoo received about $900,000.

Phang's wife Neo Kuon Huay was paid nearly $950,000 as the group's "sales director", a job that she did not do.

She has been fined $60,000 for falsifying payment vouchers.

The Commercial Affairs Department has seized about $21 million in Sunshine assets and will determine how the funds should be disbursed to the firm's creditors.

When sentencing the duo, District Judge Jasvender Kaur said Phang and Hoo knew the scheme was not sustainable, but still continued for the monetary incentive.

Phang has also been charged for not keeping proper accounts and possessing uncensored and obscene films. A pre-trial conference will be held later this week.

 

[CoffeeAhSoh]

Why repost old news?
Anyway James phang is eagerly awaiting Con Hee's arrival.....they are hatching the next big get rich scheme in prison

CHC and gang unlikely to get a better deal than James Phang

 

[frenchbriefs]

[video=youtube;tIdIqbv7SPo]http://www.youtube.com/watch?v=tIdIqbv7SPo[/video]

 

[Lando]

another loser....

 

[rushifa666]

Interesting. Rumor has it this is the 2nd MLM they did. Anyone knew if they were charged for the first?

 

[GoldenDragon]

Many smart chaps in jail. Just too bad they ran out on luck.

 

[Narong Wongwan]

CHC and gang unlikely to get a better deal than James Phang

That is a given....con hee is a man of god....he has god on his side....
The CHC followers conned by him are still supporting and helping con hee count money....
Contrast that to the ones scammed by James phang....everyone probably baying for his blood

 

[GoldenDragon]

Interesting. Rumor has it this is the 2nd MLM they did. Anyone knew if they were charged for the first?

Office at Paya Lebar?

 

[CoffeeAhSoh]

That is a given....con hee is a man of god....he has god on his side....
The CHC followers conned by him are still supporting and helping con hee count money....
Contrast that to the ones scammed by James phang....everyone probably baying for his blood

James' followers bought a product package Kong 's follower bought a Dream .


CHC and gang wasting taxpayers money . Millions spent to bring them in .

Prosecution should ask Kong foot the bills .

 

[CoffeeAhSoh]

Many smart chaps in jail. Just too bad they ran out on luck.

 

[Glaringly]

The Sunshine Empire collected $180m from selling 26,000 packages. James Phang collected more than $7m in “consultancy fees’ while Jackie Hoo got about $950,000. James Phang’s wife was paid $950,000. However, there is bad news for the thousands of investors – they are likely to get little nothing back and only $21m have been recovered.

Knn. The law has to be changed to lock them in jail for a year for every $10,000 unrecoverable. Otherwise what is stopping any conman to breach the system and enjoy life after jail.

 

[scroobal]

The law as well as poor enforcement by the various authorities continues to allow these people to flourish and in the end pay a small penalty. Now we have foreigners doing the same thing will proverbial engine oil booster scam.

The authorities also tend not to do anything when the first complaint is made. Until someone influentials intervenes or the complaints become a chorus nothing will be done.

Look at the Police Force. The CP asked for 1k more chaps to look after the foreigners crowding in one area. We recognised and rewarded them for their failure where numerous vehicles were set alight.

Knn. The law has to be changed to lock them in jail for a year for every $10,000 unrecoverable. Otherwise what is stopping any conman to breach the system and enjoy life after jail.

 

[jw5]

My kaki called to tell me that the Police-Commissioner-Designate is Mark Andrew Yeo Kah Ch$ng.

The law as well as poor enforcement by the various authorities continues to allow these people to flourish and in the end pay a small penalty. Now we have foreigners doing the same thing will proverbial engine oil booster scam.

The authorities also tend not to do anything when the first complaint is made. Until someone influentials intervenes or the complaints become a chorus nothing will be done.

Look at the Police Force. The CP asked for 1k more chaps to look after the foreigners crowding in one area. We recognised and rewarded them for their failure where numerous vehicles were set alight.

 

[GoldenDragon]

Look at the Police Force. The CP asked for 1k more chaps to look after the foreigners crowding in one area. We recognised and rewarded them for their failure where numerous vehicles were set alight.

Failure has its own rewards. He is a complete failure.

 

[frenchbriefs]

aint no sunshine when Phang's gone!!!!!!hes always gone too long!!!!anytime he goes away!!!!!!

 

[jw5]

Absolutely Agree. I am with you on this.

My kaki called to tell me that the Police-Commissioner-Designate is Mark Andrew Yeo Kah Ch$ng.

Failure has its own rewards. He is a complete failure.

 

[SAMMMYBOY]

Many smart chaps in jail. Just too bad they ran out on luck.

?

they got too Greedy.




.

 

[scroobal]

Bro, I gave up long time ago. Too many disappointments. Turn around the bend and you see the ratan furniture stacked one corner. Gone fishing sign hanging on the shutter.

Going after ants diligently will eventually cause public expectations that it is a matter of course and will possibly expose Istana to the same yardstick.

Scroobal. I am going over to Changi Village to check if Charlie is still open for business. Pop over if you have the time. I will be wearing a blue shirt and black pants with brown shoes. My hair will be parted on the left. And I have a big mole on my left cheek. Can't miss me!