29 Jun '12, 2am

Article from Business Times...

Article from Business Times...

[SINGAPORE] The executive pastor of City Harvest Church (CHC) claimed in a statement yesterday that the church did not suffer any financial loss and no one made personal profit from the transactions that are now at the centre of a court case. Aries Zulkarnain, a founding member of CHC, also spoke to the press for the first time since the police arrested church founder and board member Kong Hee, chairman John Lam Leng Hung, vice-chairman Tan Ye Peng, and two other church members on Tuesday. The five were charged on Wednesday for allegedly siphoning $24 million from CHC via sham bond investments to fund the music career of Sun Ho, who is Kong's wife. They were also accused of using another $26.6 million to cover the tracks via a series of complex transactions. "As a church we stand with them and I believe fully in their integrity," Mr Zulkarnain said.

Full article: http://www.businesstimes.com.sg/premium/top-stories/no-fu...

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