WHERE is the authority? !! (Part 2 of Rampant Lawless Series)

Scam Series: The Encouragement
by JP

Sunshine Empire Pte Ltd was a company setup in Singapore in 2006.

The company had gathered almost S$200 million in funds through investment schemes / scam. Over S$100m were paid out as 'investment returns' (dividends); whilst another S$40m were transferred to associates as 'interest free loans' and the remaining S$60,000,000.00 (approx.) believed to have been rich the directors/organisers/founders' pocket !!

Prior to the existence of Sunshine Empire, its founders had a long history of establishing similar investment schemes / scams under various business names.
None of which had ever materialized. The projects were claimed to have failed and investors would not get back anything after a few months of collecting the funds. However, its founders evaded legal charges by operating on legal loopholes in their contracts or bribing authority? !!

It was reported that there was also a group of middle-aged people who were trained separately from the majority and drove luxury sedans like Mercedes-Benzes and BMWs despite being only in their early twenties. These car achievers are also known as managers who always dressed smartly in black suits and carried Montblanc pens and wallets. According to a former member of Sunshine Empire in an article, these managers would take other members out for supper after the training sessions because they said it would foster bonding and it is an opportunity for other members to see the cars they drove.

The fact that Sunshine Empire's merchants can notch up what seem like profits without ever buying or selling products means its business model looks like a pure financial investment scheme or Ponzi scheme.
There have been allegations that the Sunshine Empire is a Pyramid scheme, with victims in East Asian Countries includes Malaysia.
Sunshine Empire was placed on the Monetary Authority of Singapore's (MAS) investor alert list and Malaysia's Securities Commission alert list.

On 3 February 2009, investigation by the Commercial Affairs Department (“CAD”) of the Singapore Police Force was concluded that Sunshine Empire generated a revenue of almost $200,000,000 in just over a year.
Jackie Hoo Choon Cheat, a director of Sunshine Empire, and James Phang Wah each faced a charge of fraudulent trading under Section 340 of the Companies Act, a charge of failure to maintain proper accounting records of Sunshine Empire under Section 199 of the Companies Act and eight charges of criminal breach of trust as an agent of Sunshine Empire under Section 409 of the Penal Code.
Phang also faced six charges of falsification of Sunshine Empire’s accounts under Section 477A of the Penal Code and one charge of false declaration of the share capital of Empire Communications Technology Pte Ltd under Section 401 (2A) (b) of the Companies Act. In addition to the Penal Code and Companies Act charges, Phang faced three charges for possession of uncensored and obscene films under the Films Act. He is the shadow director of the ponzi scam empire which had cheated more than 20,000 Singaporeans (mostly teenagers) and rewards top scammers with luxury cars.
Neo Kuon Huay, a director of Empire Emall (S) Pte Ltd and wife of Phang, faced six charges of falsification of Sunshine Empire’s accounts under Section 477A of the Penal Code and one charge of false declaration of the share capital of Empire Emall (S) Pte Ltd under Section 401 (2A) (b) of the Companies Act.
Yong Wai Hong, a director of Empire Communications Technology Pte Ltd and various companies, faced six charges of false declaration of the share capital of various companies under Section 401 (2A) (b) of the Companies Act.
Mr Subhas Anandan represented all four as they claimed trial. Neo, Hoo and Yong were offered $600k bail each and their passport impounded.
Three of the accused, apart from Yong, were arrested on the afternoon of 2 February 2009 and spent that night in remand. Yong was on police bail then. They were subsequently released on bail and were driven away in a convoy of Mercedes-Benzes and BMWs.
Phang was addressed as '老大Lao Da' ('chief' in Mandarin) as he got into his car.

The trial begun at the Subordinate Court on 29 March 2010. On 16 July 2010, Phang and Hoo were found guilty of perpetuating fraud, criminal breach of trust and falsifying accounts.
On 30 July 2010, Phang was sentenced to nine years jail and fined $60,000; his wife, Neo Kuon Huay, was found guilty of falsifying payment vouchers, was fined $60,000; former company director, Hoo was sentenced to seven years jail.

A public doubt has raised if based on the findings by CAD, "Was this scam originate invented by Hongkish ?"
{On 8 October 2008, The Consumers Association of Singapore's executive director, Mr Seah Seng Choon, cautioned participants against transferring their money to Hong Kong, as it would put their investment outside Singapore's jurisdiction.
On 24 October 2008, it was reported that James Phang Wah does not own Sunshine Empire but just a charismatic adviser to SunShine.}

While in Malaysia, the 'one' been charged was a company itself - Sunshine Empire Sdn. Bhd; but NOT the owner/director of the company?!!!
The company was operating its unlawful business in two adresses. One located at Emper Menara Uncang Emas, Jalan Loke Yew, Kuala Lumpur within the period of 14 July - 17 October, 2006 (three months only); another located at Bangunan KUB.com, Jalan Yap Kwan Seng, Kuala Lumpur wihtin the period of 18 October, 2006 - 4 April, 2008.
The company plead guilty of collecting money without license. The company was represented by director, Mohd. Azlan Azman (a puppet?/scapecoat?), fined (ONLY) RM2m? for two charges.

It was believed that this company had rolled away RM100,000,000.00 (a very conservative estimation) but [the company] (and NOT the person) only fined RM2millions !!

Would this be a deviant perception of encouragement for foreigner (or even local) to planting more scams in this country instead of neighbour country ? !!!