CHC Trial 14, May, 2015 (Day 133-Day 12 Tranche 7)

City News 14 May 2015 MorningCity News 14 May 2015 Afternoon

http://www.citynews.sg/2015/05/city-harvest-trial-bonds-redeemed-to-solve-valuation-issue-not-to-avoid-scrutiny-says-serina-wee/

Prosecution, as stated in City News, claimed the following:

“The DPP further painted the picture that the entire series of bond redemption transactions, which involved Xtron, Firna, Ultimate Assets, AMAC and the church, was designed to “hide the trail of funds” and “obscure” the fact that it was really the church’s own money that had been used to repay itself.

While Serina disagreed with prosecution, I remember Chew Eng Han offered another view.
According to Eng Han, using money to repay itself is not unusual practice in financial world.
Hence, that substantially weakens prosecution’s argument on round tripping.

Yup, the leaders are doing just fine since the whole church prays for them~~

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