The Business Times

Auditor says guarantees raise issues, doubts over bond investment

Prosecution shows documents to press case over shams

Published Mon, Jan 20, 2014 · 10:00 PM
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[SINGAPORE] The prosecution yesterday tried to cast more doubt on the veracity of the multi-million-dollar bond transactions entered into by City Harvest Church (CHC) to show that these were nothing more than "shams".

Its witness, Baker Tilly TFW managing partner Sim Guan Seng, who audited the church's accounts, said that documents shown to him for the first time yesterday - which included correspondence between senior CHC members - raised a lot of "doubts" and "issues".

Mr Sim was the audit engagement partner for CHC from October 2008, and that of Xtron Productions from January 2008. Xtron is a production house and artiste management company that managed the church's Crossover Project - CHC's way of evangelising though pop music - and Sun Ho's music career.

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