In July 2010, he was sentenced to 9 years in prison and fined $60,000 for criminal breach of trust.
He was released from prison on Dec. 20, 2017.
But just one day later on Dec. 21, Phang was brought to the Kuala Lumpur Sessions Court in Malaysia to face two charges of with accepting deposits without a valid license.
source:
http://www.straitstimes.com/asia/se-asia/sunshine-empire-founder-charged-in-malaysia