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The End of SunShine Empire

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Old 10-08-2012, 12:47 AM   #211
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What happen to the money? Why it took so long to distribute the money to the investor
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Old 10-08-2012, 05:34 PM   #212
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It may hardly reach any investor because they needs to pay first the employee(if any), renting fees & etc.
Mess with the best & Die like the rest
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Old 16-09-2012, 02:05 AM   #213
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Thumbs up 3 Scams - Gold Guarantee, Asia Pacific Bullion and iDiscover - Disovery Group owned by Lee Song Teck

3 Scams - Gold Guarantee, Asia Pacific Bullion and iDiscover - Disovery Group owned by Lee Song Teck

The relates to timeshare which is another type of scam.

Many people got scammed by this company selling timeshare packages called iDiscover / DiscoveryGroup. They bought the packages after attending sales seminars which offered freebies like IPads and travel vouchers just to attend a 2 hours sales talk. But they never got to use to their satisfaction any of the tour packages/hotel stay/cheap flights etc promised in the timeshare package.

Many people sort refunds but to their horror the owner of the iDiscover / DiscoveryGroup has taken all their money and sold the company to Lee Song Teck .

Lee Song Teck himself then was looking to recover his cost paid to the previous owner by getting those who wanted refunds to pay up the remaining unpaid membership fees owed or alternatively, change their so-called travel service into some kind of “consolidated investment” with unbelievable compounded returns of 23% over 15 years ($73,000 returns for $26,000 investment).

What is this consolidated investment? Buying Gold from The Gold Guarantee amd Asia Pacific Bullion !!

When asked what backs up such a ridiculous claim or “promise” of 23% returns, they were shown a sample of the 3 “gold warrant” certificates signed for by a certain unheard of “Gold Guarantee Pte Ltd” (which itself is not being monitored by MAS), probably some commodity derivative of gold (which is sky-high at the moment), provided the gold does exists and the warrant or underwriting company are real and does not “default”.

What they asked why would Lee Song Teck want to buy such a scam company like iDiscover, which already has so many complains and has very poor after-sales/mediocre product-line. The answer very much surprised them – aside from Mr Lee Song Teck being very rich (net-worth 20 million and can spent millions easily), the new owner want to change the direction of the company, such that the existing 5000 members can take their minds off travel (meaning no longer interested in providing this service) and instead wait every 5 years for the pay-out return of $23,000 each time.

The smarter ones then went back to do backgound checks on The Gold Guarantee. The so called “trustee” company is call The Gold Guarantee, it is ALSO owned by the new boss of The Discovery Group Mr Lee Song Teck.

How can the same owner be both the issuer of the so called “warrant”, that guarantees the payout, and at the same time be the trustee?

It’s like saying give me cash to buy gold from The Gold Guarantee or Asia Pacific Bullion, I will keep the gold in trust for you and guarantee return it to you in 15 years time plus interest.

Lee Song Teck now owns all the shares of iDiscover, with the “old” boss Jerry Tan still listed a director.

I hope you can understand so far the story of Lee Song Teck’s involvement in timeshare, The Gold Guarantee and Asia Pacific Bullion.

Many things like this goes behind the curtains of Goldcos : Gold Guarantee and Asia Pacific Bullion, with one intention in mind – to suck more and more people into their scam !
Lee Song Teck
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Old 16-09-2012, 02:06 AM   #214
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Thumbs up Awareness to prevent any one from being con by Asia Pacific Bullion owned by Lee Song Teck

Awareness to prevent any one from being con by Asia Pacific Bullion owned by Lee Song Teck

Information from the forum:

I received a phone call from a tele-marketer(TM) few weeks ago saying that due to a recent survey done by using credit card, she is pleased to inform me that I have won a $800 shopping voucher to buy branded items such as Pxxda, Mxx Mxx, BuxBexxy etc and $200 voucher to buy gold and gave me a code for the vouchers redemption.

Know it as another *too good to be true* thing, I let her finish her sales preach before I start my probing.

I was told that all I have to do is to listen to the "con"sultant presentation for 45 mins and I can leave with the shopping & gold voucher if i find the presentation not useful.

I asked what's their company name and the TM ask the supervisor to speak to me. I ask for the company name and got a ABCDE services as a reply. And since I am nearby the Keypoint(the 1st venue whereby they asked me to go) and Concourse(subsequently change to here, their grand office at level #33-02) on the date/time proposed, i decided to see what's new this time round.

I reached the Concourse slightly earlier and went to the information board to see what's the name of the company at level #33-02. Its Asia Pacific Bullion(APB) owned by Lee Song Teck. Another familiar name on the same level #33-04/06, The Discovery Group. What a discovery!
Did a google search on my phone and found some interesting links.

1) Company : ASIA PACIFIC BULLION. scam or safe?

2) Asia Pacific Bullion - Gold Club Asia Forums

3) Asia Pacific Bullion - Gold Club Asia Forums

4) wtf, this Lee Song Teck guy in Straits Times Today is damn rich at 33 only...

5) Avoiding Scammers: iDiscover International Scam - The same Cours Montreux Scam

Having seen the above skeptics, I proceed to level 33 and call the tele-marketer, asked her where is ABCDE services and she reply in that its on level 33 and Asia Pacific Bullion is the same as ABCDE services. 1st loophole.

Asia Pacific Bullion entrance is quite normal, small reception area with 2 seater sofa and another 2 chairs on the left. A lady attend to me and pass me a survey form to fill up. Required fill - your name, mobile number, income, address, age and gender. Submitted the form and wait for the *con*sultant to attend to me.

1 middle age and 1 funny chap came to me and was introduced by the middle age fellow that the funny chap will be my *con*sultant.

I would not mention why the chap is funny and the detail of the presentation to prevent eaves(eyes)dropping.

Basically, the idea is to ask you to invest in their GAP - Gold Accumulating Program which I find is a loaf of BS and the funny chap didn't even know what the chemistry symbol for gold and simple finance terms such as PV and FV when I used such terms to ask him some questions.

Really a *con*sultant. Told him I need to leave by the stipulated time and his face changed real black after that. haha! We proceed to the corridor outside and I see that the so called "managers" were sitting in a room. The consultant went into the room and talk with his manager and they return, with the consultant passing me the vouchers and sulking said "bye" and turn his back and walk off. His manager was shocked and quickly briefed me on how to use the voucher etc.

When I went back to the lift lobby, i took a shot of the information there.

Noticed the last company Igeneric pte ltd? to use the shopping vouchers there? not another chance to waste time with D8 and its subsidiaries anymore!

After reading

this(must read) - The Gold Guarantee in the News

I concluded that D8 = D grp = APB = TGG = LST = JT = Igeneric = INSPIRED EXPLORED = SC@M!

I sincerely hope that these pests will be hanged in the gallows ASAP. Wasting People time and con-ing people money to Asia Pacific Bullion to make a living.

I hope you who is reading this post can understand my bad English and also create awareness to prevent any of your relatives, friends, anyone close to you or even yourself from being con by Asia Pacific Bullion owned by Lee Song Teck.
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Old 16-09-2012, 10:33 AM   #215
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lol another sexpose?
switch off the lights and its all the same...
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Old 30-09-2012, 06:21 AM   #216
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The Sunshine Empire legal saga came to an end on Friday, after the Court of Appeal found that the case has not raised any important legal questions.

Sunshine Empire founder James Phang Wah and former director Jackie Hoo Choon Cheat, are serving nine and seven years' jail for running a fradulent business and criminal breach of trust.

Their appeals to the High Court were dismissed last November. Ordinarily, this would have been their last avenue of appeal.

If the court decides in their favour, their convictions under the Companies Act could be quashed.

But on Friday, the appeal judges described the as a "backdoor appeal". The three-judge court said no questions of law of public interest have arisen in this case. It added that Phang and Hoo were correctly convicted in law.

source : STOMP - Courtroom - Court of Appeal throws out Sunshine Empire case
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Old 06-10-2014, 03:46 PM   #217
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Sunshine Empire showing in channel 5 on 6 Oct 14 @ 2200hrs by criminal lawyer Subhas Anandan
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Old 07-10-2014, 08:01 PM   #218
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In an interview in 2007, Phang was quoted as saying: "I'm very good - better than Warren Buffett."

He has also said that he buys companies like people buy tofu.

Wed, Oct 24, 2007
The Straits Times
'I'm a legend - better than Warren Buffett'


Between 2003 and late 2007, the company took in more than $180 million from investors in return for “lifestyle packages” and cash rebates. Of the $180 million, $115 million was paid back to investors, $40 million was handed out to directors as “interest-free loans”, and the rest – $25 million – just… disappeared. James Phang Wah – the former CEO of Sunshine Empire - turned himself in at Singapore’s District Court to begin a nine-year jail sentence for fraud. Sunshine Empire’s main product offering – in as much as a Ponzi scheme can have a product offering – was what they called “lifestyle packages”. In 2007, Singaporean bus driver Vincent Leo Teng Fong mortgaged his property in Malaysia for about RM250,000 ($102,475) and invested the money in more than 10 Sunshine Empire Gold Prime packages, according to a report in The New Paper. […] he only received one rebate of RM26,000 from the company after his initial investment. Vincent Leo testified in court on Oct 7 that he got to know about Sunshine Empire through a friend named Sze Li. […] Sze Li and her husband, Mr Jacky Neo, said that if he bought the most expensive Gold Prime package, he could get rebates of US$700 ($981.19) to US$800 every month, and he will recoup his investment in 10 months. Once you do all the currency conversions, that works out to about a 10% interest rate per month – nice work if you can get it, sure, but also completely impossible short of running to the casino and putting it all on zero. That didn’t stop them selling the packages to tens of thousands of gullible investors in Singapore and Malaysia. The CEO and his wife certainly acted the part of successful businesspeople. In a remarkably uncritical interview with the Straits Times in 2007, he called himself “a legend – better than Warren Buffett” and that he “acquires companies like you go to market buying beancurd”. The ST piece mentioned – again, uncritically, which really makes you wonder about the quality of their editing – that “Mr Phang’s vast business empire” was involved in “network marketing, entertainment, energy, real estate, telecommunications, health and beauty, insurance, and finance”. None of it existed, though – not the Taiwanese telco business, not the 30-storey medical centre in Kuala Lumpur, and not the underwater hotel in Malacca. The only real business was the ponzi, which mostly funded an opulent office in suburban Toa Payoh and Phang’s fleet of Mercs and BMWs.

source: http://xin.msn.com/en-sg/video/watch...3-a8a44bc98aa9
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Old 15-01-2017, 03:42 PM   #219
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Heard James phang is coming out soon
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Old 17-01-2017, 05:08 PM   #220
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Heard James phang is coming out soon
Rebuild another empire ?
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Old 08-04-2017, 09:21 AM   #221
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Just nice kong hee and co going in soon
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Old 04-05-2017, 04:57 PM   #222
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Just nice kong hee and co going in soon
They are from Sunshine Empire meh ?
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Old 04-05-2017, 06:09 PM   #223
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Curryneh scammers orbi good
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Old 20-06-2017, 12:07 AM   #224
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building sunset kingdom now!

Sent from all dogs goes to heaven using GAGT
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