There is an update to CAD Investigation!!!
But it is more like....... well...... there is no need to hold
any breath..
http://www.cad.gov.sg/topNav/new/pre/Sunshine+Empire+Pte+Ltd.htm
The investigation against
Sunshine Empire Pte Ltd is still in progress. Information on the
outcome of the investigation would be provided on CAD website in
due course.
Commercial Affairs
Department
Singapore Police Force
4 Feb 2008
This investigations involved multi-millions or even billion of
dollars.
It only started in Nov and now it's just past 3.5 months.
Members of Public put in that kind of money into a
non-existent Taiwan project, and a internet-based shopping mall
that closed down and changed to another.
Millions of dollars were supposedly paid to SE merchants through
these 2 ventures. Empire Property Venture does not pay even a
single cent to SE Merchant. (On the opposite, SE Merchants put in
money!!)
So the a plausible probablity is the Merchants are paid
through the recruitment of new Merchants.
IN fact, run through the entire News Section of SE, it will mostly talk about
sales and re-entry of new and own Merchants.
And on its International President, google his names and you
will find he has bought and invested in his own capacity, many
companies with millions of dollars. 1 example is to study carefully
this document. Read the number of companies and
$$ put in by Mr James. Just remember that EMCOM International is
totally not related to Empire Communications (EMCOM) that we know,
and has absolutely nothing to do with SE Merchants.
In the http://www.empirepropertyventure.com/, under the
Company Profile, 2 names were mentioned:- 1st is a
Empire Properties Venture
Sdn. Bhd, which is listed as "DORMANT" with last
audited statements dating year 2003 showing a loss, and the
2nd is Empire Property Venture
International Sdn. Bhd, formed only in Jan 2007, and
has ZERO information to its finance sheet. (That means no
business activity)
A 3rd company surfaces in connection with their Malaysia
projects, which is Empire Worldwide Sdn Bhd,
(source here). This 3rd company is formed in July 2006,
is listed as a 'TRADING" company and has no business information
from that time. So many similairly named companies in
one venture ....
Interestingly, the experiences and involvement of
its 'PRINCIPALS" have been used as its own....
"The principals of Empire
Properties have over 10 years of combined experience in the
development industry and have been involved in the development many
successful projects such as Bandar Alam Perdana,
Selangor."
SE Merchants like to post in their blogs that 'WE' (meaning SE)
have bought this, or that, buy over this and that.... but don't
they know that they are just merchants on a e-commerce platform to
sell their goods and products?
Mr Jackie Hoo has publicly said these so-call affiliated
companies are unrelated. That is actually a BIG REVELATION
because of the huge amount of money people put in, and expecting to
get back every month.
There is a great veil placed over many eyes. Many SE Leaders are
too caught up in the easy money game as well.. so much that to
'reach the Top', get the car funds, etc overrides all other
thoughts. Even the thought that "Hey, we are being investigated by
the Police" didn't sink in.
The SE Merchant signup in the paper form shows SE
Singapore. The online version shows SE Malaysia.
So it is not an easy issue for CAD. This is much much more
complicated.
We can only wait impatiently.
