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HISTORY PROVING BAD FOR SUNSHINE EMPIRE
Nov 2007 -JAMES Phang, the man behind shaky Sunshine Empire operation, is associated with an investment scheme six years ago resulting in Singaporeans losing about $2 million. Suckers put up about $3,800 (some paid $300 a month) to be part of PT Magic Kingdom Island Resort in Indonesia. Mr Phang's company at that time NOP (Number One Product) sold the membership to the resort, that never got built. The Resort should have opened July 2003, but was called off in May 2003. Reportedly there were no refunds. Here is full report!
GLENN W. TURNER COMMENTS
Rod, You have our permission to clean those jerks clock. They are thieves to the highest degree. No permission was given on any of GWT's films or his book to anyone for use. Especially crooks!!! GWT doesn't need bad publicity, we have had no problems for over 20 years, this is just plain sickening.
Love ya,
NancyAnn & GWT
SUNSHINE EMPIRE
SINGAPORE – MALAYSIA REPORTER
With reference to our 7th September 2007 report:
It is rumored that the founder of the Swisscash "mutual fund" investment scheme is this same guy, James Phang. In fact, Swiss-whatever has spawned several variants (see Federal Bank weblinks below). They may not be the same, but the technique is very closely mirrored after the pyramid ponzi schemes we see sweeping Asia today.
Anyway this "MLM" company (Sunshine Empire) uses the same "guaranteed monthly returns" sales pitch to rope in new distributors. Almost word for word the exact pitch of "Swiss mutual funds". i.e. earning something on no MLM downline sponsoring; & earning more upon sponsoring downlines. Thus even attracting traditional MLMers.
It is rumored that individuals have put in 6-figure sums as a front-load investment (buying multiple positions). Otherwise their "normal" startup runs to the tune of an almost US$7,000 front-load.
Similar to Swiss-whatever Scam & many other modern-day "MLM" investment schemes -- at the end of the investment cycle (i.e. 100% ROI) new profits are encouraged to be "reinvested" within the scheme, thus ensuring that less funds get physically cashed out by its "merchants" or better known as suckers!”
Distributors (now better known as "merchants") in Singapore and Malaysia used to be called "investors" until the Federal Banks in Singapore and Malaysia (its 2 largest markets) clamped down on the term “INVESTORS” use. They also helped the government of Singapore and Malaysia put Sunshine Empire on government warning lists.
Sunshine Empire even goes farther to "legitimize" themselves by showing the general public that they are so-called building real-life tangible projects with the profits obtained (more likely the funds they are holding in their "recycling" scheme) -- real estate, theme parks, & IT-telecom projects in Singapore and Malaysia. The news media is critical in both Singapore and Malaysia since there is very little to prove these promotions. A promoted 1000 acre water park in Malaysia turned out to be based on a purchase of a soccer field size piece of property. So much for that lie! Read Below!
Singapore paper attack 1
Singapore paper attack 2
In the article linked below page-3 article states very clearly that this company performs as an "investment scheme" via e-points generated which can be used to purchase products AND which can also be used to be drawn out as "cash" (Fat Chance)!
i.e. THUS bypassing a tangible product;
i.e. technically becoming a non-product MLM;
i.e. illegal. (but the article stopped short of saying this as the authorities have not acted. yet.)
As you'll see here, Phang outrightly declares " I'm better than Warren Buffett!! "
Phang ran several failed "MLM" companies dealing with magnetic mattresses, lingerie, etc. i.e. Non-consumable products with a front-loading business startup structure -- FYI this is a common feature of a fair share of local Malaysia/Singapore/Taiwan MLM companies.
Here are Malaysia & Singapore's Federal Authority websites listing Sunshine Empire, The Swisscash Scam & others:
main site: http://www.sc.com.my
(here you will also find the Swiss-whatever Scam variants' websites.)
