Sunshine Empire

The Empire Group Alliance (EGA) or Sunshine Empire was set up in 2006 as a Multi Level Marketing (MLM) company, based at Toa Payoh HDB Hub Singapore.

At Sunshine Empire, people signing up as merchants under specific plans to shop on its online shopping platform get consumer rebates known as 'e-points', which can be used for online shopping or converted to cash. The rebates are not guaranteed.

But they are also rewarded with potentially hefty cash rebates, though these are not guaranteed. Merchants can build their own sales force as well.

The scheme is structured in such a way that participants are not required to use the rebates to buy Sunshine's goods. [ [http://www.straitstimes.com/Free/Story/STIStory_176468.html Straits Times - MLM firm Sunshine Empire under probe ] ]

The cash rebates are based on Sunshine's global turnover. The option of converting the rebates into cash only makes Sunshine more attractive than other MLM firms where people must maintain sales quotas.

Sunshine Empire Group Alliance attracted more than 20,000 people in Singapore ,Sunshine also operates in Indonesia, Thailand, Hong Kong, Korea and Taiwan and United Arab Emirates, and has more than 50,000 merchants. It plans to expand to the Middle East.

Empire Property Venture is Property Section Of Sunshine Empire Group , is involved in several projects in Malaysia . These include the 30-storey Empire State Tower in Kuala Lumpur, Sunshine Villa - which will house a medical centre - as well as a marine theme park with underwater accommodation in Malacca.

SEANet International LLC is the Middle East branch of Empire Group Alliance,Based in Dubai, SEAnet International is a locally operated company .

Criticism

The fact that Sunshine Empire's merchants can notch up what seem like profits without ever buying or selling products means its business model looks like a pure financial investment scheme or Ponzi scheme. [ [http://www.straitstimes.com/Latest+News/Singapore/STIStory_169845.html Straits Times - Multi-level marketing firm placed on MAS alert list] ]

There have been allegations that the Sunshine Empire is a Pyramid scheme, with victims in East Asian Countries.

Sunshine Empire was placed on the Monetary Authority of Singapore's (MAS) investor alert list [ [http://www.moneysense.gov.sg/check_our_list/Consumer_Portal_IAL.html Monetary Authority of Singapore's (MAS) investor alert list] ] and Malaysia's Securities Commission alert list. [ [http://www.sc.com.my/ENG/HTML/licensing/investors/Alert_list.html Malaysia's Securities Commission alert list] ]

On Nov 13, 2007 The Commercial Affairs Department (“CAD”) of the Singapore Police Force is investigating Sunshine Empire Case. The investigation against Sunshine Empire is still in progress. [ [http://www.cad.gov.sg/topNav/new/pre/Sunshine+Empire+Pte+Ltd.htm The Commercial Affairs Department (“CAD”) of the Singapore Police Force] ]

Singapore Police Force was placed an Alert about Sunshine Empire Group on the Police website . [ [http://www.spf.gov.sg/mic/2007/071113_sunshine_empire.htm Singapore Police Force] ]

On April 4, 2008 The Central Bank of Malaysia has issued warnings regarding Sunshine Empire legitimacy and conducting illegal deposit taking and money laundering activities. and have advised investors to avoid the company and its their related companies. [ [http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=1604 Central Bank of Malaysia] ]

On April 12, 2008 The Straits Times reported Sunshine Empire monthly cash rebates discontinued from April 2008. [ [http://www.straitstimes.com/Free/Story/STIStory_226364.html Straits Times - Clients of MLM firm Sunshine Empire cry foul] ]

On 8 October, 2008 The Consumers Association of Singapore's executive director, Mr Seah Seng Choon, cautioned participants against transferring their money to Hong Kong, as it would put their investment outside Singapore's jurisdiction. [ [http://www.asiaone.com/Business/News/My%2BMoney/Story/A1Story20081007-92178.html Asiaone Business - Undergrad may have lost $66,000 to Company] ]

External links

* [http://www.sunshine-empire.com Sunshine Empire Website]
* [http://www.empirepropertyventure.com/ Empire Property Venture Website]
* [http://www.em-max.com/ Em-Max Website]
* [http://www.seanetinternational.com/ SEA Net International Website]
* [http://answers.yahoo.com/question/index?qid=20070609035339AA0BJOf Thread on Yahoo Answers About Sunshine Empire]
* [http://www.firstmillionchallenge.com/sunshine-empire-too-good-to-be-true/ Sunshine Empire - Too Good To Be True?]
* [http://www.sunshineempirenews.blogspot.com/ Sunshine Empire News Updates Bulletin Blog ]
* [http://www.mysunshine-empire.biz/ Sunshine Empire News Refund Updates ]

References

See also

* Ponzi scheme
* Pyramid scheme
* Money Laundering
* Swiss Mutual Fund