Home > News > Regional
Tuesday January 14, 2014 MYT 12:00:00 AM
Tuesday January 14, 2014 MYT 7:51:32 AM
INFORMATION about allegedly sham bonds at the centre of the City Harvest Church trial had been kept from the auditor in charge of the firm issuing the bonds, a court heard at the start of the third leg of the trial.
Tiang Yii, a partner at auditing firm Baker Tilly TFW, oversaw music production firm Xtron Production’s audit for the period from January to December 2007.
In August that year, the firm signed an agreement to issue up to S$13mil (RM33.6mil) worth of bonds, out of which S$7mil’s (RM18.1mil) worth was eventually bought by the church that year.
Tiang said yesterday she had not seen e-mails shown by the prosecution, in which two of the six accused church members, John Lam Leng Hung and Tan Ye Peng, discussed concerns that Xtron could not repay the money it had borrowed through the bonds in time. — The Straits Times/ Asia News Network
Tags / Keywords:
British embassy workers killed in Kabul attack
Coal mine fire kills 24 in China
Hong Kong police clear protest camp after clashes
India girl dies after being set on fire for resisting molestation
Ex-tour guide’s legal powers over widow’s assets revoked
Japan volcano eruption hits flights
British detective writer P. D. James dies, aged 94
Welcome to Bhutan via Google Street View
E-cigarettes have up to 10 times more carcinogens than regular smokes, say Japanese researchers
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)