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The outcome of the proceedings in the Subordinate Court is as follows:
a. Jackie Hoo Choon Cheat was convicted on the charge of fraudulent trading under the Companies Act and all the charges involving criminal breach of trust as an agent of Sunshine Empire under the Penal Code. He was sentenced to 7 years imprisonment.
b. James Phang Wah was convicted on the charge of fraudulent trading under the Companies Act and all the charges involving criminal breach of trust as an agent and also charges involving the falsification of Sunshine Empire’s accounts under the Penal Code. He was sentenced to 9 years imprisonment and fined $60,000.
c. Neo Kuon Huay was convicted on all charges involving the falsification of Sunshine Empire’s accounts under the Penal Code. She was sentenced to a fine amounting to $60,000.
d. Yong Wai Hong pleaded guilty to all charges of false declaration of the share capital of various companies under the Companies Act. He was convicted and has been sentenced to a fine amounting to $24,000.
The remaining charges against Jackie Hoo Choon Cheat, James Phang Wah and Neo Kuon Huay will be dealt with at a later date.
The appeal of Jackie Hoo Choon Cheat, James Phang Wah and Neo Kuon Huay have been heard in the High Court on 15 August 2011. The Court's decision would be released on a later date. |