High Court Justice Tay Yong Kwang dismissed the court appeals by Sunshine Empire trio, company founder James Phang, former director Jackie Hoo Choon Cheat and Phang’s wife Neo Kuon Huay, reports the November 22nd 2011 edition of The Straits Times (Sunshine Empire appeals dismissed).
James Phang, Jackie Hoo and Neo [...]
Every Sunday, there will be an article on the papers that features a successful investor in a Q&A format. Part of the Q&A will be a question on their worst and best investment. Normally, the best investment would be business of the interviewee. However, it was different today. The best investment is an [...]
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 [...]
An ex-AIA agent has been charged for allegedly selling a fake US $5 million ‘AIA Thank You’ policy to a semi-retired businessman in November 2002, reports the May 11th 2011 edition of The Straits Times (Ex-AIA Agent Charged Over Fake $6.2m Policy). The story was first reported here.
I wrote a letter to The Straits Times asking for more active monitoring for investment scams, starting with cyberspace. It was published on 31st December 2010.
The letter can be found here.
In what is believed to be the first of its kind in Singapore, an Indonesian businessman is claiming that his ex-AIA agent has sold him fake insurance policies costing US$5m. This was report in the 10th October 2010 edition of The Sunday Times (US$5m insurance scam).
Flip through any of the major dailies and you will see advertisements on various trading courses. The Sunday Times article on 19th September 2010 titled – Beware of easy money had on discussion on these courses.
According to the article, an investor lost more than US$3,000 in trading after attending a [...]
The law has caught up with Sunshine Empire’s mastermind James Phang. Phang who was sentenced to 9 years’ jail term and $60,000 fine. Phang’s wife, Neo Kuon Huay was fined $60,000. Former director Jackie Hoo Choon Cheat was sentenced to 7 years’ jail. The trio will be appealing against their convictions. These were [...]
The Straits Times reported that the founder of Sunshine Empire was “found guilty by a district court for running a fraudulent scheme and for faking account“. James Pang Wah, Jackie Hoo Choon Cheat and Neo Kuon Huay will be sentenced on July 30. Those who have invested with Sunshine may want to check [...]
The 11th July 2010 edition of The Sunday Times reported an interesting case of a couple who misled a Dutch writer. The article, The ‘millionaire’ Couple Who Couldn’t Pay Up, listed the extravagant lifestyle Ms A.J Hameedah and her husband Mr S. Thomas enjoyed and exaggerate claims made. Details of the charges and [...]
