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Serina Wee Gek Yin, the sixth person to be charged in the City Harvest Church misappropriation of funds case, was the church’s former finance director. The Straits Times reported that she is also listed by the Accounting and Corporate Regulatory Authority as the secretary of more than 50 companies associated with the church and its leaders. These companies include Skin Couture, Ed Hardy and Xtron Productions. 33 People Charges There were chaotic scenes outside the Subordinate Courts yesterday as followers of City Harvest Church (CHC) thrust themselves between the media and beleaguered senior members of the church who are facing allegations of financial impropriety. On the morning when five people from one of Singapore’s biggest churches, including its charismatic founder Kong Hee, were due in court to face charges of misuse of funds, journalists, as well as CHC supporters, showed up from as early as 7.30am. When the five who are facing charges of criminal breach of trust and falsifying accounts turned up one by one, their supporter-entourage formed rings around them in an attempt to shield them from the lenses of photojournalists. Auxiliary police officers had to step in several times in the ensuing mayhem; most intense when Kong arrived with his celebrity wife Sun Ho. The mood was decidedly more restrained in the courtroom: Those in the dock wore solemn expressions and hardly exchanged words, while their more than 150 supporters, many of whom were clad in all-black outfits, packed the public gallery behind them. After the 15-minute court session ended, there was a repeat of the earlier scenes outside the courts as journalists scrambled to catch up with the leaving CHC members. ‘Sham transactions’ to conceal money A day after the Commissioner of Charities released its inquiry findings that detailed how funds were channelled out of CHC on the quiet to finance the secular music career of Ms Ho, the court heard yesterday accusations of how the church’s funds were allegedly pilfered.
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Prosecutors charged that S$24 million was taken from CHC’s coffers for “investment” in the bonds of two companies. But these were “sham transactions” to conceal the money that went to Ms Ho’s music career, which was “not an authorised purpose of the Church’s Building Fund”, they added. Those who allegedly perpetrated the criminal breach of trust (CBT) were: Kong, 47; suspended CHC board chairman John Lam Leng Hung, 44; former board vice-chairman Tan Ye Peng, 39; CHC investment manager Chew Eng Han, 52; and ex-finance manager Sharon Tan Shao Yuen, 36. According to court documents, the purportedly sham bond investments in the two companies took place between Aug 23, 2007 and June 19, 2009. Chew was said to have instructed the transfer of S$13 million and S$11 million from CHC’s funds to Xtron Productions and PT The First National Glassware (Firna) respectively. Xtron is Ho’s artist management firm and was founded in 2003 by Chew. TODAY’s checks on the Accounting and Corporate Regulatory Authority website listed Mr Koh Siow Ngea and Mr Choong Kar Weng – both CHC parishioners – as directors of the company, which also supplies CHC with video and audio equipment. Former CHC finance manager Serina Wee Gek Yin was stated as secretary of the S$6-million paid-up capital firm. Firna, meanwhile, is an Indonesia-based glass tableware producer. Court documents said the S$11 million injection from CHC was “for the purpose of funding one Ho Yeow Sun’s music career and for the purpose of providing funds to one Wahju Hanafi”. Mr Wahju is an Indonesian businessman who was named in the COC’s statement on Tuesday. His S$600,000 donations were funnelled into a private fund that paid for Kong and Ho’s purported expenditures, the COC said. “Round-tripping” of funds Prosecutors also alleged that Tan Ye Peng, Chew and Sharon Tan Shao Yuen perpetrated another set of CBT offences centred on the “round-tripping” of another S$26.6 million from CHC’s funds. When the church’s auditors raised various questions about the purported bond investments, the trio purportedly devised a plan to circulate the church’s funds from elsewhere through a series of complicated transactions so as to make it seem as if the missing sum had been accounted for – a process known as “round-tripping”. They then allegedly cooked the books to tally with the “round-tripping” transactions, prosecutors added. Court documents stated that Sharon Tan allegedly arranged for S$11.4 million of CHC’s funds to be disbursed into AMAC Capital Partners’ Special Opportunities Fund, “for the purpose of generating the false appearance that certain purported investments in Firna bonds had been redeemed”. Chew served as director in AMAC in 2007. She also allegedly arranged for a further S$15.2 million to be disbursed to Xtron Productions for
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the same purpose. Sharon Tan was also said to have instructed the recording of false entries CHC’s accounts on four occasions subsequently. Bail for all five charged yesterday was set at S$500,000 each and their passports were also impounded. They will return to court on July 25. In a statement yesterday, the National Council of Churches Singapore (NCCS) said the Christian community is united in disapproving any misuse of public institutional funds. However, the Council noted that as the case is before the courts, it was important to avoid speculation or pre-judgement, and that the legal process should be allowed to take its course. The Council also hoped that Singaporeans would not react against the church or churches in Singapore. Separately, Mr Christopher Pang, who said he is an CHC executive member, has written to Acting Minister for Community Development, Youth and Sports Chan Chun Sing alleging that the Commissioner of Charities’ (COC) statement on the misconduct and mismanagement in the administration of the charity is defamatory. Earlier, a COC spokesperson had told TODAY that the Commissioner has offered to meet the remaining members of CHC’s Board to discuss their plans for the charity and to offer advice or assistance if necessary. “The charity can continue with their services and religious activities including collection of offerings at their weekly services,” he added. In a statement posted on its website, CHC Executive Pastor Aries Zulkarnain said church operations and cell group meetings will continue as usual. “As the matter is before the courts, we are not in a position to comment further,” he added. Additional reporting by Neo Chai Chin Source
1) http://www.asiaone.com/News/Latest%2BNews/Singapore/Story/A1Story20120726-361490.htm l 2) http://www.todayonline.com/Singapore/EDC120628-0000071/33-charges-over-misuse-of-S$24 m-of-church-funds
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