City Harvest funds were pumped into businessman’s firm to facilitate ‘round-tripping’: Prosecution
SINGAPORE — The prosecution continued to seek to prove that the money pumped into an Indonesian businessman’s firm was not from him but from City Harvest Church.
SINGAPORE — The prosecution continued to seek to prove that the money pumped into an Indonesian businessman’s firm was not from him but from City Harvest Church.
Prosecution witness Wahju Hanafi had insisted throughout the past four days on the stand that the money injected into his firm Firna, was from him and not the church.
In more emails admitted today (Sept 5) the prosecution pointed out that if this was the case, then he should not be asking church leaders, who are currently on trial, what he should do.
The court heard that Serina Wee, one of the six accused, had instructed Mr Hanafi to complete all transactions by a certain date.
The prosecution argues that this was done as the six accused needed Mr Hanafi to comply so as to facilitate their “round-tripping” of funds through “sham bond investments”.
Wee, along with church founder Kong Hee and four others, are accused of misusing S$24 million of church funds to finance the singing career of Sun Ho, Kong’s wife.
Four of the six are alleged to have used another S$26 million to cover up the misuse through “round-tripping”. CHANNEL NEWSASIA