Sunshine Empire trio guilty of fraud


Jul 26, 2002
1,376
0
0
Woodlands
#2
I hope the judge lump all the charges together and just jail the ass for life.
 

ricohflex

Senior Member
Feb 24, 2005
3,353
8
0
sing
#7
"His wife, Neo Kuon Huay, and ex-company director Jackie Hoo Choon Cheat were similarly convicted. "

His accomplice's name forewarned you.
 

Canonised

Senior Member
Aug 27, 2003
2,998
4
0
#8
Justice is served! :thumbsup::thumbsup::thumbsup:

The head of the now—defunct multi—level marketing firm, Sunshine Empire, 49—year old Phang Wah has been sentenced to nine years’ jail and fined $60,000.
He was convicted earlier this month on July 16 of several offences, including running a fraudulent trading company and falsifying accounts.
Phang’s 46—year—old wife, Neo Kuon Huay was also fined $60,000 for her involvement in what is believed to be the biggest Ponzi—like scheme in Singapore. Not sure got jail sentence or not.

The ex—company director, 29—year old Jackie Hoo Choon Cheat was sentenced to seven years’ jail.
 

ninelives

Senior Member
Jan 16, 2002
3,247
3
38
BB
ninelives.clubsnap.org
#9
i am more interested of the other news in your link :

In a separate case, a taxi driver pleaded guilty to molesting a female passenger.

52-year-old Francis Ngien Tai Ho, picked her up at around 3am on 10 August 2009.

He then invited the 25-year-old woman to sit in the front passenger seat after she complained the rear seat was uncomfortable.

The woman accepted the invitation.

Ngien asked to shake her hand when they reached her destination and she extended it to him.

But instead of giving her a handshake, the TransCab driver planted a kiss on it.

She lodged a police report the next day. - CNA/vm
 

Last edited:

ovaltinemilo

Senior Member
Sep 12, 2009
2,819
0
0
Sin jia Po lah
#10
Ponzi Ponzi Ponzi...the thing is it took years before fools wake up...;(

*where gt return so high, risk so low investment...there's only toto, 4D...*
 

ahbian

Senior Member
May 23, 2006
2,467
0
0
#11
Ponzi Ponzi Ponzi...the thing is it took years before fools wake up...;(

*where gt return so high, risk so low investment...there's only toto, 4D...*
Wah, toto and 4D is considered low risk for you...:bsmilie:
 

ricohflex

Senior Member
Feb 24, 2005
3,353
8
0
sing
#12
good, at least justice is served, even if it takes a long time.
this conjob got good ROI $20 Million per year of jail. Can you earn $20 Million per year?
assume it is not james phang wah.
assume it is (fictitious - lee ah beng) 20 years old.
he spends 1½ years bluffing people and getting them to part with money totalling $180 Million.
lee ah beng then stashes away all this money in Swiss bank accounts or elsewhere
he is sent to jail for 9 years and fined $60,000.
like the Cambodian torturer Duch, he can even claim to be born-again-believer-in-whatever-religion...


when he is 29 years old he is out and can start to enjoy life.
actually earlier maybe minus 4 years for good behavior.
so out by age 25.
and he still has $180 Million minus $60,000 to spend from that time onwards.....
during the time he is in jail, he need not spend time doing NS, ICT, IPPT, BCTC....

lee ah beng can even study to get paper qualifications while in jail

when he is out, he can write a book about his experiences and sign a multi million dollar book deal with publishers.
like nick leeson.
 

Last edited:

zaren

Moderator
Staff member
Oct 27, 2003
10,928
20
38
#13
As expected....smelt a rat all along.

Now waiting for the other get-rich-quick schemes like The Gold Label to follow suit. :bsmilie:
 

Mar 26, 2005
882
0
0
#14
Well, golden rule, if you do not understand how a company makes $$, do not invest.

The Profitable Group is another case brewing...
How do you make profit from Land parcel when you are not developing it...

When greed gets the better of common sense, then prepare to lose the $$.

Seems like no jail term for the wife ?
 

cowmera

New Member
Nov 22, 2008
248
0
0
Behind you
#16
I'm disappointed that he only received 9 yrs jail and a fine of $60k. He probably has millions slashed away to be enjoyed when released. :sticktong

Well, golden rule, if you do not understand how a company makes $$, do not invest.
The Profitable Group is another case brewing...
How do you make profit from Land parcel when you are not developing it..

When greed gets the better of common sense, then prepare to lose the $$.

Seems like no jail term for the wife ?
Ya lor, if you really want to spend your $$ on MLM, read up on the company first. Do they produce high technology products backed by science? What about professional financial reviews? Do the products justify the price you pay? Will you be affected if the company close down?
 

Last edited:

mrleech

New Member
Mar 16, 2007
114
0
0
#17
Why are those in the scheme not convicted as well?

Unlawful to promote or participate in, or hold out that person is promoting or participating in, pyramid selling scheme or arrangement
3. —(1) It shall be unlawful for any person to promote or participate in a multi-level marketing scheme or arrangement or a pyramid selling scheme or arrangement or to hold out that he is promoting or participating in such a scheme or arrangement.

(2) Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $200,000 or to imprisonment for a term not exceeding 5 years or to both.
Registration of business which is designed to promote pyramid selling scheme or arrangement prohibited
4. —(1) No business which is designed to promote a multi-level marketing scheme or arrangement or a pyramid selling scheme or arrangement shall be registered under any written law relating to the registration of businesses.

(2) A person who in contravention of subsection (1) obtains registration of a business which is designed to promote a multi-level marketing scheme or arrangement or a pyramid selling scheme or arrangement shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $200,000 or to imprisonment for a term not exceeding 5 years or to both.
Penalty to be imposed in addition to other punishment
7. —(1) Where a court convicts any person of committing an offence of promoting or participating in a multi-level marketing scheme or arrangement or a pyramid selling scheme or arrangement under section 3 (2) then —

(a) if the person has received any benefit, directly or indirectly, as a result of committing the offence; and

(b) if the benefit received by the person is a sum of money or if the value of the benefit can be assessed,

the court shall, in addition to imposing on that person any other punishment, order him to pay as a penalty, within such time as may be specified in the order, a sum not exceeding the amount of or, in the opinion of the court, the value of the benefit received by the person, and any such penalty shall be recoverable as a fine.
[19/2000]

(2) In determining the amount of the penalty that a person, being a participant, shall be required to pay under subsection (1), the court may take into account any benefit that the person may have given for the right to participate in the multi-level marketing scheme or arrangement or the pyramid selling scheme or arrangement, as the case may be, or any loss that the person may have incurred as a result of such participation.
[19/2000]

(3) Where a person charged with any offence under section 3 (2) is convicted of one or more offences under any other written law, and the outstanding offences are taken into consideration by the court under section 178 of the Criminal Procedure Code (Cap. 68) for the purpose of passing sentence, the court may impose the penalty mentioned in subsection (1) for any offence under this Act so taken into consideration.
[19/2000]

(4) Nothing in subsection (1) shall prejudice or affect any right which any person may have under any written law or rule of law to recover damages from the person referred to in subsection (1).