Monday, August 2, 2010

Updates on Sunshine Empire

Some background information and what to do if you are a victim of the scam has been blogged about previously in my entry on Sunshine Empire

The verdict is out and the founder of Sunshine Empire James Phang Wah was sentenced to 9 years in jail and fined $60,000. Neo Kuan Huay, his wife, was fined $60,000. Jackie Choon Cheat, Sunshine Empire's  former director, was jailed for 7 years.

The sentence will offer little consolation to the victims of this massive ponzi scheme as out of the $180million amassed, only $21million has been seized by the authorities. That is only a paltry 11.6%.

If you, or anyone you know, needs to be updated on what's happening and what to do to get back your money, check out Sunshine Empire Pte Ltd FAQ on Commercial Affairs Department's website.

You can contact the CAD office at 6557 5459 during office hours. Their office hours are 8.30 am to 6.00 pm on Mondays to Thursdays and 8.30 am to 5.30 pm on Fridays.

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