Sunshine Empire's Owner Charged
Tuesday, 3rd February 2009
Jackie Hoo Choon Cheat, a director of Sunshine Empire Pte Ltd, and James Phang Wah were charged under Section 340 of the Companies Act, 1 charge of failure to maintain proper accounting records of Sunshine Empire under Section 199 of the Companies Act and 8 charges of criminal breach of trust as an agent of Sunshine Empire under Section 409 of the Penal Code. Sunshine Empire is a defunct company, with all assets frozen by the Singapore Court. It was set up in 2006 as a Multi Level Marketing (MLM) company, based in Singapore. Investigation by Singapore's Commercial Affairs Department (CAD) had was found that Sunshine Empire generated a revenue of $189 million in just over a year. Sunshine Empire is a Pyramid scheme, with victims in East Asian Countries.