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.
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