20 June 2018
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Two ex-City Harvest leaders struck off accountancy body

Straits Times
14 Jun 2018
Linette Lai

Former City Harvest Church leaders Serina Wee and John Lam have been struck off the membership of the Institute of Singapore Chartered Accountants (ISCA), the national accountancy body said on its website.

Both Wee and Lam were removed from the ISCA on April 9 this year.

The ISCA's disciplinary committee also ordered them to each pay about $1,352 for the "costs and expenses incurred... in connection with the investigation and disciplinary proceedings undertaken".

The ISCA's code of ethics mandates that all members should conduct themselves in a manner "consistent with the good reputation of the accountancy profession".

It also states that members should not do anything that is likely to discredit the profession or themselves.

Wee and Lam were part of a group of six church leaders who had misappropriated $24 million in the church's building funds through sham bond investments in music production firm Xtron and glass maker Firna.

They also misused another $26 million to cover up the initial crime.

The others involved are City Harvest founder and leader Kong Hee, deputy senior pastor Tan Ye Peng, former finance manager Sharon Tan and former church fund manager Chew Eng Han.

The money went towards funding the secular music career of Ms Ho Yeow Sun, who is Kong's wife.

All six were convicted of committing criminal breach of trust, and sentenced to jail terms of varying lengths.

Wee, who was the church's finance manager, was given two years and six months' jail, while Lam, who was on the church's finance committee, was sentenced to one year and six months in jail.

Source: Straits Times © Singapore Press Holdings Ltd. Permission required for reproduction.