THE terse showdown between two former colleagues on the City Harvest Church board did not let up yesterday in court.
Chew
Eng Han, who quit the church last year claiming he was betrayed and
lied to, launched a tirade of questions that visibly upset former board
member John Lam, who was taking the stand for the fourth day.
Both
men are among six defendants accused of funnelling about $50 million of
church building funds into two companies, including music production
firm Xtron, to bankroll the secular pop music career of Ho Yeow Sun, the
wife of church founder Kong Hee.
At
times yesterday, 46-year-old Lam lost his cool, raising his voice and
glaring at Chew, 54, who is representing himself. This was unlike the
usually collected Lam, who addressed the judge in measured replies.
Chew,
despite having no legal training, tried to methodically discredit Lam's
earlier assertion that it was his idea to cook up the alleged sham
deals that landed the six accused, including Kong, in court.
Lam
had earlier testified how Chew had approached him on June 23, 2007 to
say that he was quitting his job as a chief executive officer of
financial service company State Street Bank, to start a boutique fund
management firm.
Chew,
he claimed, proposed that surplus church funds should be invested, and
the money raised be used for the Crossover Project, which was meant to
attract converts through Ms Ho's singing.
Lam
said Chew also suggested the tie-up with Xtron, and that Indonesian
tycoon and church devotee Wahju Hanafi had guaranteed he would indemnify
all losses.
But
Chew told the court "the meeting never happened". He produced travel
documents yesterday showing that he was in Tokyo on June 23, 2007. Lam
admitted he might have got the date wrong.
Chew
said he founded his company, Amac Capital Partners, in April 2007.
Further, with the board "optimistic" about Ms Ho - a "10-hit wonder"
with five Mandarin albums and five US singles - there was no need for
the personal guarantee by Mr Hanafi. He cited an e-mail to show that the
Xtron bond idea originated from deputy senior pastor Tan Ye Peng. Lam
disagreed.
In
a heated exchange, Chew also questioned why Lam, as "an experienced
board member who is also a CFA (Chartered Financial Analyst)", had not
asked about the Xtron bonds which the church bought. "Don't you think
you should have some sense of responsibility as a board member to
inquire as to the trigger for this amount?"
Lam maintained his stance that Chew had "unfettered and complete" discretion in investments.
But
Chew then cited Lam's statement to Commercial Affairs Department
investigators in which he said that the church board was involved in
evaluating the Xtron bonds.
Lam explained the discrepancy to the court by saying that he did not have the benefit of e-mail and documents at the time.
Later,
Tan's lawyer N. Sreenivasan argued that his client was above board, and
that the church has always had a huge risk appetite.
The trial is expected to continue today with the prosecution questioning Lam.
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