Singapore Big News Extracts
26 July 2012
City Harvest Church’s (CHC) pastor Kong Hee and 4 other CHC leaders appeared at the Subordinate Court today (25 Jul) for a second mention in a high-profile case involving alleged misuse of millions in church funds.
Some $24 million of church’s funds was allegedly transferred to two companies as bond investments – $13 million to Xtron Productions and $11 million to Firna.
It’s been charged that these were “sham transactions” devised to conceal the diversion of the church’s building fund to finance the pop music career of Sun Ho, Kong Hee’s wife.
When the church’s auditor raised questions about the investments, another $26.6 million was allegedly misappropriated from the church’s funds – $11.4 million to AMAC Capital Partners and $15.2 million to Xtron Productions.
The “Holy Gang” apparently would fight the case till the end. According to legal experts, legal fees for such criminal case may hit $1m each!