He had made sure that auditors and lawyers, including a senior counsel, looked into the church's transactions, and put his faith into advice given by his "confidante" and respected auditor Foong Daw Ching.
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CHC trial: $5m meant for hall rental used on Sun Ho's music career
By Ronald Loh | The New Paper | Friday, Aug 08, 2014
SINGAPORE - Serina Wee was in a dilemma.
Xtron had spent close to $5 million meant for the rental of a Singapore Expo hall on Ms Ho Yeow Sun's singing enterprise.
Now Xtron, which managed Ms Ho's music career from 2003 to 2008, needed money to cover the rental fees.
The firm had money elsewhere. City Harvest Church (CHC) had bought $13 million of its bonds.
But the bond proceeds were off-limits and could not be used to pay the rent.
So Wee, who provided accounting services to Xtron, thought of a plan: Use the bond money to pay the rent and disguise its use under a "travelling and salaries" section.
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