A Review Of The Sunshine Empire Asian MLM Company
Everyone is getting into MLM companies today, but how do you tell if a company is legit? There are so many places that want to defraud you. Take the company of Sunshine Empire, which has anything but a glowing reputation. This is one company that did not treat people right. I think it is despicable when companies defraud the people who are trying to invest in them.
Basic Operational Information on Sunshine Empire
The basic idea that Sunshine Empire pushed was the merchants that signed up with them did so under a variety of plans that promised consumer rebates. These were good for shopping on the Internet or could also be converted into cash money. However, these rebates were not guaranteed.
Also, the merchants were to be rewarded with many potentially large cash rebates, but these also did not come with a guarantee. Merchants were to recruit their own individual sales forces too.
Sunshine du an chung cu Dat Xanh (http://sunshineavenuedatxanh.com/) Empire had as many as twenty thousand individuals just in Singapore alone. They also did business in Malaysia, Indonesia, Korea, Thailand, and Tawain. This company was registered as a multi-level marketing (MLM) company but it in fact was ran more as an investment firm without having any authority to do so, offering amazingly high rates of interest. It was uncovered that the company's tourism projects and infrastructure claims were in reality a fraud.
Other Information About Sunshine Empire
This company was first open for business in 2006 and was an MLM (multi-level marketing). Sunshine Empire is no longer in business due to the Singaporean government having to seize the assets. Should you loved this informative article and you want to receive details with regards to chung cư Đất Xanh please visit our own webpage. In fact, the CEO and the founder of the company went on trial in March of 2009 for engaging in fraudulent investment and trade practices. They were also accused of falsifying records about their accounts and capital.
Sunshine Empire is also listed in the Investor's Alert List setup by the Singapore Government's Monetary Authority for possibly operating schemes having to do with investing with no authority. It was said that these principles have collected around
S$189,000,000 through various schemes for investing, these schemes basically never came to fruition and were in fact Ponzi schemes.
It was found in the trials that more than S$115,000,000 was paid for returns on investments, a total of S$40,000,000 was loaned out to associates with no interest, and then the balance was thought to have been paid to the directors for various fees.
Before opening Sunshine Empire, the founders were involved in a variety of other investment schemes under other names that were similar. None came to fruition and the investors were informed that the projects had failed and that they would not be getting anything for their efforts. But the founders always managed to slip through loopholes in the legal contracts and avoid prosecution.
It is best to conclude from the history of Sunshine Empire, that if you are thinking about investing in an MLM, you need to do your research. Check it out and make sure it is legit. If you have any doubts at all do not put your money into it.