In 15 months, Sunshine Empire actually amassed $180million from 20,000 people.The trio pocketed the following amounts in this short time: James Phang Wah - $7million, Jackie Hoo Choon Cheat - $1 million and Neo Kuon Huay (James Phang's wife) $1 million!
When reporters went undercover and first broke the news, their Posh office in Toa Payoh was pictured, details of their investment projects such as underwater hotel was revealed! For a fee of $240 to $12,000 victims were promised 160 per cent of the value with its customer rebate points. 60% returns on your investments. Immediate with no risks?! Alarm bells should have been blaring.
If you know of anybody who fell victim to Sunshine Empire's Ponzi-like scheme,
there was a How to get money back section.
Visit Commercial Affairs Department website at www.cad.gov.sg for information.
|I had paid money to Sunshine Empire. When will I recover the money?|
|A||We need to comply with the legal requirements for disposal of the seized monies. These funds cannot be dealt with pending court proceedings.|
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|Q||I have paid money to Sunshine Empire. Do I need to make a report?|
|A||There is no need to make a report to police at this point in time. |
What will happen after I provide CAD with my particulars and details of my dealings with Sunshine Empire?
|A||The CAD will contact you, if you are required to further assist in the investigation. Updates of significant developments on the investigation will be posted in the CAD website at ww.cad.gov.sg.|
|Q||I have already reported the matter to CAD. Do I have to report the matter to the Police again?|
|A|| CAD is a unit of the Singapore Police Force. There is no need to lodge another police report, if a report has been made to the CAD.|
|Q||What can I do now?|
|A|| If you have reported your dealings with Sunshine Empire to the CAD and provided your personal particulars and details of your dealings, including payment of monies to Sunshine Empire, you should wait for updates from the CAD. |
Are there any hotlines that I can call if I have queries on the matter?
|A||You can contact the CAD office at 6557 5459 during office hours. Our office hours are 8.30 am to 6.00 pm on Mondays to Thursdays and 8.30 am to 5.30 pm on Fridays.|