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Sunshine Empire
Sunshine Empire was a Multi Level Marketing (MLM) company, set up in 2006, based in Singapore. It is now defunct, with assets frozen by the Singapore Court. The company is listed by the Singapore Government's Monetary Authority in its Investor's Alert List, for possibly running investment schemes without authority. After investigation by the Commercial Affairs Department (CAD) of the Singapore Police and a court trial, Sunshine Empire's Directors were charged with and found guilty of fraud, criminal breach of trust and falsifying accounts. The company had gathered up to S$189 million in funds through investment schemes, alleged to have never materialised and to have been in fact, part of a Ponzi scheme. Initial trial revealed that over S$115m were paid out as 'investment returns', while another S$40m were transferred to associates as 'interest free loans' and the remaining believed to have been expended or paid out to directors as fees. History Prior to the existence of Sunshin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Multi Level Marketing
Multi-level marketing (MLM), also called network marketing or pyramid selling, is a controversial marketing strategy for the sale of products or services in which the revenue of the MLM company is derived from a non-salaried workforce selling the company's products or services, while the earnings of the participants are derived from a pyramid-shaped or binary compensation commission system. In multi-level marketing, the compensation plan usually pays out to participants from two potential revenue streams. The first is based on a sales commission from directly selling the product or service; the second is paid out from commissions based upon the wholesale purchases made by other sellers whom the participant has recruited to also sell product. In the organizational hierarchy of MLM companies, recruited participants (as well as those whom the recruit recruits) are referred to as one's ''downline'' distributors. MLM salespeople are, therefore, expected to sell products directly to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Singapore
Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bordering the Strait of Malacca to the west, the Singapore Strait to the south, the South China Sea to the east, and the Straits of Johor to the north. The country's territory is composed of one main island, 63 satellite islands and islets, and one outlying islet; the combined area of these has increased by 25% since the country's independence as a result of extensive land reclamation projects. It has the third highest population density in the world. With a multicultural population and recognising the need to respect cultural identities of the major ethnic groups within the nation, Singapore has four official languages: English, Malay, Mandarin, and Tamil. English is the lingua franca and numerous public services are available only in Eng ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Affairs Department
The Commercial Affairs Department (CAD) is a staff department of the Singapore Police Force (SPF). The department was first established in 1984 as the Commercial Crime Department (CCD), it is the white-collar crimes unit of the SPF. History The department was first established in 1984 as the Commercial Crime Department (CCD) with Glenn Knight as its first director. Modern day Background As the white-collar crimes unit of the police force, CAD conducts a variety of inquiries ranging from corporate irregularities such as LionGold and Data Register in 2014, as well as casino-related offences. It also has the right making arrests. Probes High-profile probes conducted by CAD include City Harvest Church founder Kong Hee, former bank relationship manager Vyia Lee Yock Sim who had misappropriated more than US$400,000 from seven high net-worth clients by 2006, China tourist guide Yang Yin with a widow's niece over a legal tussle assets believed to be worth $40 million. In September 200 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Singapore Police Force
The Singapore Police Force (SPF) is the national and principal law enforcement agency responsible for the prevention of crime and law enforcement in the Republic of Singapore. It is the country's lead agency against organised crime; human, weapon trafficking; cyber crime; as well as economic crime that goes across domestic and international borders, but can be tasked to investigate any crime under the purview of the Ministry of Home Affairs (MHA) and is accountable to the Parliament of Singapore. SPF's main geographical area of responsibilities covers the entire country, consisting of five regions which are further divided into 55 planning areas. The organisation has various staff departments with specific focuses. These include the Airport Police Division (APD), which covers policing of Singapore's main civilian airports of Changi and Seletar, or the Police Coast Guard (PCG), which protects and enforces areas under Singapore's territorial waters and its ports. Formerly know ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fraud
In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. The purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgage fraud, where the perpetrator may attempt to qualify for a mortgage by way of false statements. Internal fraud, also known as "insider fraud", is fraud committed or attempted by someone within an organisation such as an employee. A hoax is a distinct concept that involves deliberate deception without the intention of gain or of materially damaging or depriving a vi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Criminal Breach Of Trust
In ordinary language, a crime is an unlawful act punishable by a state or other authority. The term ''crime'' does not, in modern criminal law, have any simple and universally accepted definition,Farmer, Lindsay: "Crime, definitions of", in Cane and Conoghan (editors), ''The New Oxford Companion to Law'', Oxford University Press, 2008 (), p. 263Google Books). though statutory definitions have been provided for certain purposes. The most popular view is that crime is a category created by law; in other words, something is a crime if declared as such by the relevant and applicable law. One proposed definition is that a crime or offence (or criminal offence) is an act harmful not only to some individual but also to a community, society, or the state ("a public wrong"). Such acts are forbidden and punishable by law. The notion that acts such as murder, rape, and theft are to be prohibited exists worldwide. What precisely is a criminal offence is defined by the criminal law of each r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ponzi Scheme
A Ponzi scheme (, ) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Named after Italian businessman Charles Ponzi, the scheme leads victims to believe that profits are coming from legitimate business activity (e.g., product sales or successful investments), and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own. Some of the first recorded incidents to meet the modern definition of the Ponzi scheme were carried out from 1869 to 1872 by Adele Spitzeder in Germany and by Sarah Howe in the United States in the 1880s through the "Ladies' Deposit". Howe offered a solely female clientele an 8% monthly interest rate and then stole the money that the women ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Montblanc (pens)
Montblanc (''UK:'' /ˌmɒ̃ˈblɒ̃(k)/, ''US:'' /ˌmɑnˈblɑŋk/) is a German manufacturer and distributer of luxury goods, founded in Berlin in 1906, and currently based in Hamburg. The company is most known for its luxury pens and also designs and distributes bags, small leather goods, and watches. Since 1993, Montblanc has been part of the Swiss Richemont group. History A Hamburg banker, Alfred Nehemias, and a Berlin engineer, August Eberstein, produced simple pens in 1906. After a short period of time Wilhelm Dziambor, Christian Lausen, and later Claus Johannes Voss took over the business. Their first model was the ''Rouge et Noir'' in 1909 followed in 1910 by the pen that was later to give the company its new name, Montblanc. The Meisterstück name (, the name used for export) was used for the first time in 1924. Today, the Montblanc brand is on other goods besides pens, including watches, jewellery, fragrances, leather goods, and eyewear. The company was founded in 19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pyramid Scheme
A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products. As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal. Pyramid schemes have existed for at least a century in different guises. Some multi-level marketing plans have been classified as pyramid schemes. Concept and basic models In a pyramid scheme, an organization compels individuals who wish to join to make a payment. In exchange, the organization promises its new members a share of the money taken from every additional member that they recruit. The directors of the organization (those at the top of the pyramid) also receive a share of these payments. For the directors, the scheme is potentially lucrative—whether or not they do any work, the organization's membership has a strong ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumers Association Of Singapore
A consumer is a person or a group who intends to order, or uses purchased goods, products, or services primarily for personal, social, family, household and similar needs, who is not directly related to entrepreneurial or business activities. The term most commonly refers to a person who purchases goods and services for personal use. Consumer rights “Consumers, by definition, include us all," said President John F. Kennedy, offering his definition to the United States Congress on March 15, 1962. This speech became the basis for the creation of World Consumer Rights Day, now celebrated on March 15. In his speech : John Fitzgerald Kennedy outlined the integral responsibility to consumers from their respective governments to help exercise consumers' rights, including: *The right to safety: To be protected against the marketing of goods that are hazardous to health or life. *The right to be informed: To be protected against fraudulent, deceitful, or grossly misleading informatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Phang Wah
James Phang Wah is a convicted felon currently serving a jail term. Before his arrest and conviction, he was the founder and "international president" of the now-defunct multi-level marketing firm, Sunshine Empire, an unlicensed 'investment' company that was in fact a Ponzi scheme. Controversial claims During media interviews, Phang described himself as a legend and 'better than Warren Buffett'. However, his name has never appeared on the List of Singaporeans by net worth, which lists all the billionaires and millionaires in Singapore. It is also not known whether James Phang Wah has met Warren Buffett. In addition, Phang also claimed to have over one million students worldwide and to control more than US$300 million (S$439 million) in assets. Before his arrest and conviction, Phang emphasised that he 'would not harm anyone and my businesses are legal'. He also claimed that in his seminars, his loyal participants would also shout "Father, I love you!". As Phang's name did not appea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subhas Anandan
Subhas Anandan (25 December 1947 – 7 January 2015) was an Indian-Singaporean notable criminal lawyer. He had appeared in numerous notable cases, including a case involving actress Quan Yi Fong hitting a taxi driver in 2010, and a case involving retail tycoon Tang Wee Sung in 2008 — who tried to illegally purchase a kidney from a living donor, as well as many murder cases, like those of Anthony Ler who manipulated and instigated a 15-year-old boy to kill his estranged wife in 2001; Took Leng How, who murdered Huang Na in 2004; robber and kidnapper Abdul Nasir bin Amer Hamsah; Tan Chor Jin, who shot a nightclub owner in Serangoon; and Leong Siew Chor, who killed and dismembered his lover. Anandan also represented Salakau gang member Khairul Famy bin Mohamed Samsudin in the murder trial related to the 2001 death of national football player Sulaiman bin Hashim, maid abuser Ng Hua Chye who abused and killed his maid, drug trafficker Pang Siew Fum who was assisted by Cheong Chun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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