Dear Sg Forums Members,
After more than a year since the authourities began investigations into Sunshing Empire led by Commercial Affairs Department (CAD) , Mr. James Phang and 3 other accomplices have begin officially charged in Singapore on grounds of criminal breach of trust (CBT). The news was reported on the The Straits Times on Feb 2009 and some chinese local newspaper. When the news hit the headline of the local newspapers such as The Straits Times, Lianhe Zhao Bao, Lianhe Wan Pao, Xinming, it created an uproar of the multi-level marketing arena as many were affected and involved.
We were following up closely and were looking forward to the trial scheduled on 5th March 2009. However, till date, the media has not reported any of the follow up on this case.
I am sure many wish to follow up and be updated on the charges on the President, Directors of Sunshin Empire, sentence of the those who are charged, and of course very curious and excited to know the Singapore legal system's tolerance on "ponzi scheme" if found guilty.
Anyone has update on this case??
Hope the local media can report on its update of this case.