Interesting to see this topic being brought up here.
Perhaps I may want to share some evidence or perhaps pointers which I have found out and yet no one has been able to answer. You may want to ponder over them and then make your own judgement.
1. The IP (International President) they "worship" is James Phang. Used to be 1 of the directors of NOP (Number One Product). It is still an active company as reflected by ACRA. After the issue with the Magic Kingdom Project, they later resurfaced with their existing products as HBCI or Health and Beauty Creation International. Recently, this HBCI has been renamed as Empire Group Alliance.
2. Why is their IP not a director of Sunshine Empire (the MLM company)? If he is not, why is he running the show? Although I admit he has the ability to motivate people, why should he be the director of Emcom (Empire Communications), which is a business partner of SE?
3. Under the flagship (EGA), they said that they have various companies that are part of this group. 1 of the weird thing is, HBCI is one of those companies. So is NOP. Even weirder is there is SE as well as NTI. A point to note here is that SE was renamed from NTI.
4. Many who approach you will ask you to start with a minimum position of Bronze Merchant (BM). Price is SGD$280. As they are running the binary system, you need to "pair" up the new recruits in a left-right fashion to get a incentive. Here comes the interesting point. According to the MLM Law in Singapore, a new entrant to the scheme should not provide any benefit or advantage to anyone. Else it would be out of the Exclusion Act. I questioned a few people myself on why I cant join as an affiliate merchant. I was told them it is useless. There is nothing you can do. Apparently you cant even use their Emall (aka ebay concept, online store platform). One would have the impression that you are "forced" into becoming a BM.
5. There is normally little or no emphasis on the products by SE. Most people would tell you about the projects that SE is undertaking and so on. Especially telling you how much the BP/SP/GP now cost and that the price will increase soon. The next increase is 16 Sept 2007. Legal MLMs have products for sale and that through the sales, commission and overriding is earned.
6. Many will tell you that the capital you put in is guaranteed. I took a look at the T&C of the International Merchant form. As stated in the T&C, quoted: "as these are privileges that are dependent on the Sunshine Empire worldwide performance, they are not guaranteed and will be paid out at the discretion of Sunshine Empire." I wonder why the difference in meaning.
This list I have just shared is an impromptu one. Perhaps I may be able to come out with more in the near future. Hope this information provided is able to let you make an informed decision on whether you should "invest" or not.