CHC’s retainer of Xtron is given clarity at re-examination this afternoon, as senior counsel Kannan Ramesh sets about unpicking the prosecution’s tangled web of accusations.
Church & Missions
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CHC TrialChurch & Missions
City Harvest Trial: Role Of ARLA And SOF Transactions In Redemption Exercise Examined
The prosecution sought to establish that the Baker Tilly auditors were not informed about how the funds involved in the ARLA and SOF transactions were routed around to complete the redemption of the Xtron and Firna bonds.
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26 September 2014 – Summary of CHC hearing.
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CHC TrialChurch & Missions
City Harvest Trial: Wahju Hanafi Made Independent Decision, Says Sharon Tan
Prosecution alleges that the Firna director had no control over funds, as the funds to redeem the Firna bonds came from the church.
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CHC TrialChurch & Missions
City Harvest Trial: Bond Redemption Plan Aimed To Resolve Audit Issues, Sharon Tan Explains
The finance manager tells the court that the redemption of the Xtron and Firna bonds was done to resolve audit issues and not to “create appearances”.
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Countering prosecution’s charge that the ARLA’s primary purpose was for the redemption of bonds, Sharon Tan maintained that it was a geniune prepayment for Xtron.
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CHC TrialChurch & Missions
City Harvest Trial: Auditor Wanted Bonds Off The Books, Sharon Tan Testifies
The finance manager maintains the defense’s position that plans to redeem the church’s bond investments came after Baker Tilly auditor Sim Guan Seng told the accused parties to “clear the bonds off the books”, despite the prosecution’s accusation that this is untrue.
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23 September 2014 – Summary of CHC hearing.
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CHC TrialChurch & Missions
City Harvest Trial: CHC And Xtron Not Related But Had A “Very Good Working Relationship”, Says Sharon Tan
City Harvest Church and Xtron were “related” in their common vision and objective, but finance manager spells out that CHC did not control Xtron.
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Prosecution sought to establish that Xtron was under the control of the accused; Sharon Tan maintained that Xtron was an independent entity with its own directors who made their own decisions.
Birthed out a cell group that consisted of church members’ parents, City Harvest Chinese Church has blessed many in the Chinese-speaking world. Pastor of the church, Tan Ye Peng, shares the journey.
Finance manager says discussion and deliberation of Firna bonds were not minuted because discretion had been given to AMAC to invest.