SINGAPORE
- Former City Harvest Church board member John Lam Leng Hung, 46, had
raised doubts about projected American album sales of church founder
Kong Hee's wife Ho Yeow Sun, he testified on Tuesday.
Ms Ho was the face of the megachurch's Crossover Project, which
was launched in 2002 as an "outreach strategy" to evangelise to
"unchurched" youth. As of 2008, there were plans to break into the US
market under the management of music production firm Xtron, which is run
by a long-time church supporter.
The company's balance sheets
had included projected sales of Ms Ho's then-delayed debut US album to
the tune of $16 million in 2011 and $23 million in 2012. Lam told the
court that he felt there was a need to "justify the sales in 2011 and
2012", raising factors such as the number of albums to be launched and
how many copies needed to be sold, and the sales volume as compared to
other original artistes at the time.
But fellow accused and
former church finance manager Serina Wee, 37, who also provided
accounting services to Xtron, had said that Kong would have "some
figures", and that the album was still undergoing discussions and no
distribution contracts had been entered into. The album was never
launched.
This was not the only instance which Lam had
disagreed with the rest, the court heard yesterday, as Lam continued to
distance himself from decisions made by the other accused. The court
heard that he had also bucked the board's stance to purchase the
Riverwalk property, which the church intended to use for worship. This
was on the basis that there was "no indicative valuation" which he did
not see the need to rush into.
The church's purchase of Xtron
bonds is central to this trial - church leaders have been accused of
misappropriating millions of church funds to buy sham bonds from Xtron
and another church-linked firm to fund Ms Ho's music career.
Purportedly through its Building Fund, the church entered a bond
subscription agreement with Xtron worth $13 million in July 2007. This
was revised upwards to $18.2 million in August 2008 to enable Xtron to
purchase Riverwalk.
The property was valued at $17.55 million.
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