You would have thought that this charge against the Christian church would have occurred in Malaysia.

Think again.

It was the Singapore authorities would took the City Harvest church founders and officials to court…..alleging criminal breach of trust.

As expected, the church is vehemently backing its founder….claiming no loss was incurred by the church as the money was repaid…..albeit through a ’round tripping’ exercise!

It’s anybody’s guess as to how long the case would be drawn out…..and if the church would be bearing the legal costs to defend its patrons.

But one thing’s for sure……it does make every church goer, or contributor to a religious entity or charitable organisation to think twice as to how his/her contribution is being utilised.

Gone are the days when one could confidently surmise that charitable and religious organisations are complete do-gooders and money collected will substantially be used for needy.


Like the corporate world……even the medical world for that matter……questionable characters with the greedy slant have infiltrated most of these sectors….even religious/charitable entities!!

Singapore seems have led the charge in keeping them in check with the Commissioner of Charities running a thorough check on the accounts of these organisations.

It is also a sad reflection of the work of the so-called auditors of these organisations that such matters need to be raised at a late stage of something that may have occurred over decades!

What really struck me over the City Harvest Church fiasco is that the church could officially claim that the church did not make any losses since the bond investment has been repaid.

How they could look the other way… that the repayment was made by using church funds (as in the allegation) via the oft-mentioned ’round tripping’ exercise…is beyond me!

Whilst this ’round tripping’ exercise has long been banned in western countries, there are still many clowns in this part of the region who condone it!  

It is for that reason that the financial illteracy and ineptitude be seriously addressed in this part of the world in order to avoid the kind of mayhem that the Americans had with the Madoffs and the sub-prime crisis. 

Click HERE for an insight to this Sham Church!


Leave a Comment so far
Leave a comment

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: