Sunshine Empire Trio Appealing Against Sentences
The people behind the alleged Ponzi scheme, Sunshine Empire, are appealing their convictions, according to the 16th August 2011 edition of The Straits Times (Call for Sunshine Empire trio to get stiffer sentences) and Today (Sunshine Empire trio appeals against sentence). Prosecutors, however, pushed for heavier sentences.
The defense lawyers argued that Sunshine Empire was not a Ponzi scheme but a multi-level-marketing company. It is not an investment scheme and did not promise guaranteed returns. Sunshine Empire has also gone to Consumer Association of Singapore and the Commercial Affairs Department to clarify matters. None of the participants had lodged any complaints so far.
Prosecutors argued that the authorities “merely intervened before the scheme inevitably crashed” and things usually have “come to a grief” by the time complaints are lodged.
Prosecutors also pushed for harsher sentences. They asked for Pang’s sentence to be increased to nearly 14 years from 9, Hoo’s sentence to be proportionally raised and Neo to be sent to jail for 6 months.