13 Dec '11, 10am

Sunshine Empire duo start serving jail sentences

Sunshine Empire duo start serving jail sentences

Sunshine Empire founder James Phang Wah arriving at a district court yesterday. AsiaOne Tuesday, Dec 13, 2011 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. RELATED STORIES Sunshine empire founder wants to look good in print Sunshine Empire victim recounts "darkest period of his life" 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 f...

Full article: http://www.asiaone.com/News/AsiaOne%2BNews/Singapore/Stor...

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