The returns from what are allegedly sham bonds that City Harvest Church invested in was repaid with money from the church, the prosecution tried to prove in court during the trial against founder Kong Hee and five of his deputies.
The prosecution on Thursday produced email between several of the accused to show the “flow of funds” between the church’s investment management firm AMAC Capital Partners and glassware manufacturer Firna, which had issued S$11mil (RM28mil) worth of bonds invested in by the church.
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