Showing posts with label Sun Ho. Show all posts
Showing posts with label Sun Ho. Show all posts

Wednesday, July 25, 2012

City Harvest Church ex-finance chief charged

SINGAPORE - City Harvest Church's (CHC) ex-finance chief Serina Wee, 35, was charged this morning, making her the sixth person to face criminal charges over the alleged siphoning of church funds.

The Straits Times reported that Wee faces six charges of criminal breach of trust and four for falsifying accounts.

Her bail has been set at $500,000.

The other five charged so far are founding pastor Kong Hee, 47; church management board member John Lam Leng Hung, 44; Kong's deputy Tan Ye Peng, 39; church finance manager Sharon Tan Shao Yuen, 36; and investment manager Chew Eng Han, 52.

Prosecutors believe that at least $23 million was invested in alleged sham transactions to fund the pop music career of Kong's wife, Sun Ho.

The funds were said to have been put into a $13 million bond investment with Xtron Productions, while $11 million was allegedly put into another company called PT The First National Glassware.

It is believed that some of the accused also conspired to misappropriate another $26.6 million of church funds so that it would seem like the alleged sham bond investments were redeemed. This is called 'round-tripping'.

Kong arrived at the Subordinate Court at 8.55am this morning for a second mention of the high-profile case, which first came under scrutiny in early 2010, when the Commissioner of Charities (COC) received complaints alleging the misuse of the charity's funds.

The five have not pleaded guilty. The offence of criminal breach of trust carries a maximum penalty of 10 years in jail, and/or a fine. For the charge of falsifying accounts, the accused may be punishable with a life sentence, or jail of up to 20 years and a fine.

Saturday, June 30, 2012

I maintain my integrity: Kong

SINGAPORE - "I do maintain my integrity".

These were the words of City Harvest Church founder Kong Hee when he addressed his congregation on Saturday.

It was his first service since Kong and four senior church members were arrested last week and charged with conspiring to cheat the church of millions of dollars. The money allegedly went into financing his wife's, pop singer Ho Yeow Sun, music career.

Dressed in a dark suit, Kong was greeted to applause and a standing ovation from an 8-000 strong crowd when he went on stage yesterday, reported The Straits Times.

The paper quoted Kong as saying, "I also know that you are all here tonight to hear something from me".

"As you know, the past few days have been very challenging for me, my family and my team, and many allegations have been made in the media.

"Obviously, as this is an ongoing case, I cannot comment on the details, but please know that there are always two sides to every story. I look forward to the day when I can tell you my side of the story in court," he said.

Seven minutes into his sermon about a woman who had worshipped Jesus humbly, honestly and whole-heartedly, Kong stopped and told his congregation, "Yes, I do maintain my integrity".

This was met with a second standing ovation and cheers.

Kong then asked his 42-year-old wife to lead the congregation in singing worship songs. During the singing session, the others who were charged - deputy pastor Tan Ye Peng, 39, finance manager Sharon Tan Shao Yuen, 36, investment manager Chew Eng Han, 52, and church management board member John Lam Leng Hung, 44, - went on stage and exchanged hugs with Kong and Ms Ho.

From $127k HDB flat to $9.3m Sentosa Cove penthouse

SINGAPORE - How did the Kongs get from a $127,000 HDB flat to a $9.3 million Sentosa Cove penthouse?

Pastor Kong Hee and his family started with a five-room HDB flat in Tampines, which they bought for $127,000.

They later sold it for $420,000, The New Paper reported in 2010.

From there, the Kongs bought a Horizon Towers unit in River Valley. It had a private lift, two living rooms, four bedrooms and a compact kitchen.

The flooring was marble, with a carpeted family area and a walk-in wardrobe which showed off the fashionista side of Ms Ho.

It was done up in a mix of American classic and contemporary styles.

In 2010, they sold this apartment and moved into The Suites at Central on Devonshire. It was reportedly sold to them for $2.6 million.

There was also a $28,000-a-month Hollywood Hills estate which Ms Ho rented while pursuing her career as a singer in the United States.

She stayed there with her son, an assistant, a nanny and some relatives while going about her music career. She shuttled between the US and Singapore.

Today, the Kongs live in a luxury Sentosa Cove penthouse which cost $9.3 million, according to The New Paper.

The 487 sq m apartment is more than four times bigger than their Tampines flat and has an ocean view.

How far can money get you in the music industry?

SINGAPORE - Made my wish to be a superstar, sings Ms Ho Yeow Sun in her English single, Fancy Free.

Ten years ago, Ms Ho, 42, who goes by the stage name Sun Ho, embarked on her secular music career as part of the Crossover Project to reach out to non-Christians.

Now, her music career is part of the focus in the investigations against individuals from the City Harvest Church.

The Commissioner of Charities had found financial irregularities of at least $23 million from the church's funds which were allegedly used with the purported intention of bankrolling Ms Ho's career.

On Wednesday, her husband Kong Hee and four church office-bearers were charged in court with the alleged misuse of the funds.

Notwithstanding the case before the courts, can someone buy his or her way to stardom? And how far can money get you in the music industry?

Industry insiders here and in the US told The New Paper that while money is important in gaining a foothold, talent will be the decisive factor in carving out a successful long-term career.

Money helps, but...

Mr Ngiam Kwang Hwa, managing director of Mandarin music label Rock Records, said: "Money can definitely bring you in, but money can't sustain you. You won't go far if you don't have talent.

"I don't believe that you can groom anyone without any star quality or talent... It depends on what you can offer to the consumer to sustain your music career."

American Robert A. Case, a music career consultant who owns two music publishing companies, said: "I know of people who have millions and millions of dollars, who throw money in as entertainers. And they've failed."

Asked how much it would cost to break into the US market, Mr Gingio Muehlbauer, founder of international music consultancy MC-Input.com, said that in the pop music scene, it would cost close to US$3 million (S$3.8 million) for the full works, from producing an album to marketing the singer.

Then, there are also the costs of collaborating with top names in the industry to draw more eyeballs and gain recognition.

Mr Jerry Lembo, president of Jerry Lembo Entertainment Group, said that most notable producers are represented by an agent or manager, and their time, availability and fees would be negotiated by them.

The costs of hiring these producers, he added, would most likely be included in the record label's recording budget.

Mr Muehlbauer said that hiring a top artiste, producer or musicians can cost anything from US$10,000 up to "hundreds of thousands", depending on how well-known they are.

And there are additional costs if you want a collaborating artiste to appear on the video or perform as a guest in concerts, he added.

Besides having talent and financial backing, success in the music industry also often depends on who you know and the relationships you build.

Mr Peng Chi Sheng, a local musician and director of Intune Music School, said: "One of the most important things is who you know.

"Just a call from the right person and you could get linked up to other people."

Mr Muehlbauer said that attending major conferences or events such as the Grammy Awards and big private parties is a great way to get noticed.

He added: "You can pay to get into some of these events. But most of them are by invitation only, so it always comes down to who you know."

Mr Case had this piece of advice for foreign artists who want to break into the US market.

"It doesn't matter if you are from a foreign country. The key to success is to be successful in your own country first," he said.

"Create a buzz in own country or region first, then other countries will take you seriously."



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