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SINGAPORE: A district court has found 49-year-old Phang Wah, head of defunct multi-level marketing firm Sunshine Empire, guilty of several offences, including running a fraudulent trading company and falsifying accounts.
His wife, Neo Kuon Huay, and ex-company director Jackie Hoo Choon Cheat were similarly convicted.
The trio was involved in what is believed to be the biggest Ponzi-like scheme in Singapore.
They managed to raise more than S$180 million from investors within 15 months.
District Judge Jasvender Kaur found Phang and Hoo each guilty of eight charges related to criminal breach of trust involving S$947,904.88.
She also found Phang and his spouse each guilty of six counts of falsifying accounts involving S$592,896.08.
The trio will be sentenced on July 30.
In a separate case, a taxi driver pleaded guilty to molesting a female passenger.
52-year-old Francis Ngien Tai Ho, picked her up at around 3am on 10 August 2009.
He then invited the 25-year-old woman to sit in the front passenger seat after she complained the rear seat was uncomfortable.
The woman accepted the invitation.
Ngien asked to shake her hand when they reached her destination and she extended it to him.
But instead of giving her a handshake, the TransCab driver planted a kiss on it.
She lodged a police report the next day. - CNA/vm
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