James Phang Wah is a convicted felon for perpetuating fraud and criminal breach of trust.
Before his arrest and conviction, he was the founder, director and international president of the now-defunct Empire Group Alliance.
[7] He left Shin Min and started multi-level marketing firm Number One Product in 1990, which sold magnetic mattresses.
[7] Sunshine Empire pursued investors into investing various business projects which are effective Ponzi schemes.
[7] Phang was investigated by Commercial Affairs Department in November 2007, two months after the Monetary Authority of Singapore placed Sunshine Empire on the investor alert list.
He also faced three charges for possession of uncensored and obscene films at his Westwood Avenue home.
[10] On 16 July 2010, Phang and Hoo were found guilty of perpetuating fraud and criminal breach of trust.