City Harvest trial: Church's loan to Firna made sense and was safe, says defence

City Harvest trial: Church's loan to Firna made sense and was safe, says defence
Defence lawyers argued that the loan was given in 2008 after the financial crisis had started. It made sense for the church to invest in Firna's bonds - which are loans that guarantee a fixed return - rather than the turbulent financial market.

SINGAPORE - City Harvest was never at any risk of losing the money it had loaned to a company, and the financial transactions were reasonable and legitimate. Defence lawyers said this on Monday as they tried to explain the allegedly suspicious loan given by the church to glassware manufacturer Firna.


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