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S'pore Madoff, James Phang Wah face 20 charges

Got friends who were in it. Was disgusted how the people in it were so money minded and driven-probably brainwashed.


I think it tarnished the image of other successful mlms.

omg, the face of james phang has a cheater; convict word wriiten all over. i really can't believe people called him father and the fact that he claims he is better than warren buffet---zomg. warren buffet should just sue him.

thinking of the philantrophy work of warren buffet. putting james and him tog, is just like hell n heaven resp.

 

Well... I hope he doesn't do a Mas Selamat

serene      ( Date: 18-Feb-2009 07:24) Posted: Why is this fellow allowed to travel? Who will be responsible if he jump bail, since he can easily afford it! -- Bail bumped up to $800,000 He ‘can afford it’, says lawyer of boss who asks permission to leave country   Zul Othman zul@mediacorp.com.sg . . HE WAS one of four people charged with being involved in a fraudulent investment scheme in connection with the controversial multi-level marketing firm Sunshine Empire on Feb 2, and could face jail time for alleged criminal breach of trust and falsifying accounts, among other offences. . Yesterday, Mr Yong Wai Hong was allowed to travel overseas for business after his original bail was raised by another $200,000, to $800,000. . The 27-year-old leaves tomorrow for Hong Kong and China and is expected back on March 31. Said his lawyer, Mr Noor Mohamed Marican: “He needs to travel because of work, so the prosecutor asked for an increase in bail, and we had no objection because our client can afford it.” . A director of Empire Investment Group, Mr Yong is also chairman and chief executive of Hong Kong-listed firm Emcom International, which was acquired using Sunshine’s sale proceeds. . He was hauled to court earlier this month along with Sunshine Empire founder James Phang Wah, 49, who is facing 20 charges, including running a fraudulent business and criminal breach of trust. . Mr Phang’s wife, Ms Neo Kuon Hay, 46, faces seven related charges while Sunshine president (Asia Pacific) Jackie Hoo Choon Cheat, 29, has been slapped with 10 charges including running a fraudulent business. . They will return to court on March 5 for a pre-trial conference. Mr Yong’s lawyer said there was no need for his client’s presence on that day. . Today understands that the prosecution did not object to Mr Yong’s leaving Singapore and that he has done so on several occasions while investigations were underway into the affairs of the company. . Today asked the Attorney-General’s Chambers as to why they had no objection toMr Yong’s travelling, and why they did not see him as a flight risk. The AG Chambers did not respond by press time.

 

Anyone is victim here ? My dad's fren lost $200K...And he also invited my dad to join...luckily my dad didnt.

 

Whotf.. will say he is greater than warren buffet!!! This guy is an arrogant idiot. Obviously out there to cheat people.

trader88.sg      ( Date: 18-Feb-2009 09:40) Posted: By saying so, he is advertising himself as "Investment Guru" to those general ignorant public. The well informed public will not believe in such a claim. singaporegal      ( Date: 17-Feb-2009 22:32) Posted: I remember reading about how this guy claimed that he is "better than Warren Buffet".... LOL...

 

Sunshine Empire founder 49-year-old James Phang Wah.

http://www.sunshine-empire.com/singapore/eng/activities.asp?view=4

The word Sunshine has anythings to do with Sunshing mall, Sunshine Plaza, Sunshine shopping ctr, Sunshine..err here ?.

 

By saying so, he is advertising himself as "Investment Guru" to those general ignorant public. The well informed public will not believe in such a claim.

singaporegal      ( Date: 17-Feb-2009 22:32) Posted: I remember reading about how this guy claimed that he is "better than Warren Buffet".... LOL...

 

I tot it was reported that the scam has pulled in $189 million from investors.

so $800,000 is only 0.42% of the $ involved.

??

 

Why is this fellow allowed to travel? Who will be responsible if he jump bail, since he can easily afford it!


--

Bail bumped up to $800,000

 

Serve him right!!

All these scammers must be served the maximum & heaviest punishment to serve as a deterrent to those would-be scammers.

The Chinese saying: "Kill one to warn hundreds"

singaporegal      ( Date: 17-Feb-2009 22:32) Posted: I remember reading about how this guy claimed that he is "better than Warren Buffet".... LOL...

 

about 10 years ago, he was head of a company called Number One Product (NOP), a multi-level marketing company. Unfortunately, being impressionable, i bought some product about $700.

 

I remember reading about how this guy claimed that he is "better than Warren Buffet".... LOL...

 

http://www.channelnewsasia.com/stories/singaporelocalnews/view/409447/1/.html

A director of Empire Investment Group, Mr Yong is also the chairman and chief executive of Hong Kong-listed firm Emcom International, which was acquired using Sunshine's sale proceeds.

Mr Yong was hauled to court on February 2 along with Sunshine Empire founder 49-year-old James Phang Wah, who is facing 20 charges, including running a fraudulent business and criminal breach of trust.

Mr Phang's wife, 46-year-old Neo Kuon Hay, faces seven related charges while Sunshine president (Asia Pacific), 29-year-old Jackie Hoo Choon Cheat, has been slapped with 10 charges, including running a fraudulent business.

THE man behind multilevel marketer Sunshine Empire, which pulled in $189 million from investors here, is facing 20 charges, including running a fraudulent business and criminal breach of trust.