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Cheat Grace said... </dt><dd class="comment-body pid-1810504445" id="Blog1_cmt-5244789785492442295"> I read the statement by CHC ExecPs Dunn. The funny thing is that in the statement there is no statement of assurance that CHC has done nothing wrong or that the CHC leadership is confident that they will be totally exonerated from all wrongdoing in the near future. Only "we are cooperating fully.... CHC services and operations will continue..... keep the church in prayer." Hmmmmm.
If I was innocent of any wrongdoing, that would be the first thing I would proclaim.
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June 1, 2010 11:37 PM </dd><dt class="comment-author " id="c934730244019336010">
Cheat Grace said... </dt><dd class="comment-body pid-1810504445" id="Blog1_cmt-934730244019336010"> And the Senior Pastor is totally silent...
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June 1, 2010 11:39 PM </dd><dt class="comment-author " id="c9126327953075182044">
Anonymous said... </dt><dd class="comment-body " id="Blog1_cmt-9126327953075182044"> Ian,
but do you know that Xtron depends on huge funds injected from external parties through issuance of bonds? Who in their right mind would lend money to a company whose balance sheet shows low tangible asset values, high accummulated losses? It is not so simple as these 2 shareholders having the charisma. The amount of money involved over ten million dollars.
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June 1, 2010 11:41 PM </dd><dt class="comment-author " id="c1715512368294389724">
Anonymous said... </dt><dd class="comment-body " id="Blog1_cmt-1715512368294389724"> Cheat Grace,
you're back?
Do you know that Derek Dunn knows what is happening, and he got scolding from KH for doing something which was correct for the church's coffers, but bad for KH's dear wife.
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June 1, 2010 11:44 PM </dd><dt class="comment-author " id="c2269938175506910685">
Ian said... </dt><dd class="comment-body " id="Blog1_cmt-2269938175506910685"> To anon,
yes, i do know that Xtron depended on funding injected through external parties... guess the golden question is who are the external parties..
and who would "invest" in a company that has NEVER been profitable from day 1. Some of us know that the first few "assignment" by Xtron was to be the management for Sun Ho.
Honestly, i feel that it all started with Xtron.
I would think that
the church believe that they rather their "own" people earn money from the church, instead of paying for the world to provide them services... you know, "cannot have the wealth of the righteous go to the wicked".
And now, the amounts tallied up to millions of dollars. Of course, it is a cause of concern for CAD.
Not to mention other related companies like AMAC, City Care (who proudly declared not part of CHC -> but look at the people in charge)... and of course, city college and O school.
In fact, i am glad that the CAD is involved to entangle this "mess" of webs that the church has gotten into.
While i can understand the reasons for starting these companies, they raise alot of ethical questions. Now the CAD will investigate to see if these are of legal questions also.
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June 1, 2010 11:53 PM </dd><dt class="comment-author " id="c8401028012503069579">
Landon Leo said... </dt><dd class="comment-body pid-909754982" id="Blog1_cmt-8401028012503069579"> Let's just wait and see. In situations like this, time will always tell the truth.
Personally, regardless if fault is found or not, my stand would be to support CHC. After all, this is indeed a consequence of living the cultural mandate. I've already accepted + embraced this fact (with both its advantages + disadvantages) a very long time ago, so such controversy is no stranger.
Yet I suppose not everyone else can many can stomach the same facts as I do....
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June 2, 2010 12:01 AM </dd><dt class="comment-author " id="c8357853994372914574">
Ian said... </dt><dd class="comment-body " id="Blog1_cmt-8357853994372914574"> To anon:
you said that "Do you know that Derek Dunn knows what is happening, and he got scolding from KH for doing something which was correct for the church's coffers, but bad for KH's dear wife."
Are you sure about this? if you are, please explain what happened. Don't post half-baked things like this please.
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To Landon Leo
now it is a controversy. Controversy is not illegal. But should the investigation by the CAD comes up evidence that puts certain individuals for criminal breech of trust and misuse of church funds, then is NO longer a controversy, but a crime.
If fault is found, then we hope that the guilty parties be known to all, and that the mess will be cleared up.
Even so, i would feel that the church would be hugely affected by it, and would lose every single bit of creditability in the eyes of the public IF the current leadership remains.
I would think it is unlikely for the CAD to seize financial records and computers if not for a very good reason of suspecting that they can get some significant findings.
So contrary to what many members believe, this is NOT an INQUIRY by the police. It is much more serious than that. It is also bigger than a controversy.
It is also not simply inviting the individuals down for coffee at CAD. Don't forget that it was the COC that got the CAD involved. Clearly, they thought that some financial transactions were irregular.
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June 2, 2010 12:16 AM </dd><dt class="comment-author " id="c7775615895206784044">
Ian said... </dt><dd class="comment-body " id="Blog1_cmt-7775615895206784044"> typo mistake for above..
it should read "criminal breach of trust and misuse of church funds."
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June 2, 2010 12:18 AM </dd><dt class="comment-author " id="c4237132218933183177">
Anonymous said... </dt><dd class="comment-body " id="Blog1_cmt-4237132218933183177"> Oh, and look at this...
http://www.facebook.com/pages/We-believe-City-Harvest-church-is-framed-and-maligned/128265960532291
Can someone with some maturity tell these people to stop their nonsense. This will only make things worse in the eyes of everyone outside the church, christians and non-christians alike.
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June 2, 2010 12:45 AM </dd><dt class="comment-author " id="c941611310817703024">
Anonymous said... </dt><dd class="comment-body " id="Blog1_cmt-941611310817703024"> Ian,
whatever story that is being told to whitewash, the facts still stand:
1 Company was incorporated in 2003
2 The "older" shareholder/director was brought on board only in 2005
3 The "more recent" shareholder/director was brought on board only in 2007/2008.
4 Money amounting to more than S$20 million was poured in through unsecured bonds subscribed by BVI investors.
5 The Company's only client is the church, other than the loss making venture in producing music album.
Isn't it obvious that all these are manouerves by somebody working from behind the scene?
Concerning Derek Dunn's matter, I am not going to say anymore. I am sure you know the story as well.
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June 2, 2010 6:39 AM </dd><dt class="comment-author " id="c4316749624395752695">
Ian said... </dt><dd class="comment-body " id="Blog1_cmt-4316749624395752695"> To anon,
i know a little about Xtron and the questionable things about it.
But i do not know the matter regarding Derek Dunn. So i would be glad to hear of it.
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