CHC trial: Wee's brother had highlighted concerns

CHC trial: Wee's brother had highlighted concerns
CO-ACCUSED: Kong Hee and Serina Wee.

Even Serina Wee's brother was kept in the dark about her work.

In an e-mail presented by the prosecution yesterday, Wee said her brother, who was also a City Harvest Church (CHC) member, had highlighted concerns regarding the megachurch's transactions in March 2010.

This e-mail was shown to CHC founder Kong Hee during his cross-examination yesterday.

In the e-mail, Wee said her brother had asked how Xtron Productions, a music production firm she provided accounting services to, could have $6 million in capital.

"I couldn't tell him that XPL had taken a bank loan for the Riverwalk (property) purchase... so I told him it was from the shareholders," Wee said in the e-mail.

Kong then admitted during the cross-examination that the $10.7 million bank loan, which was granted in 2008 so that Xtron could buy the Riverwalk property for the church, was not revealed to church members or its board.

Instead, they were told the property was paid for using the bond money that CHC had invested with Xtron.

Deputy Public Prosecutor Christopher Ong then asserted that Kong and his co-accused had "deceived the board and executive members".

Said Mr Ong: "I put it to you that the reason you wanted to avoid disclosure of the Xtron bonds was because disclosure might lead to them being revealed as shams."

Kong said he disagreed.

ON TRIAL

Kong, Wee and four others are on trial for allegedly misusing more than $50 million of church funds.

Some of this money was allegedly used to fund the music career of Kong's wife, Ms Ho Yeow Sun, through two "shell companies" - Xtron and glass manufacturer Firna.

Mr Ong also pointed out in another e-mail that Firna's chief financial officer (CFO) did not know of the full details of the bonds that the firm signed with CHC. When asked if he was "surprised", Kong said he could not comment on the knowledge of Firna's CFO.

The trial will resume on Sept 8.


This article was first published on August 30, 2014.
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