<TABLE border=0 cellSpacing=0 cellPadding=0 width=591><TBODY><TR><TD class=newstitle width=262>Singapore News</TD><TD class=newstitle vAlign=bottom width=329 colSpan=3 align=right><TABLE border=0 cellSpacing=0 cellPadding=0 width=323><TBODY><TR><TD width=141 align=right><FORM style="DISPLAY: inline" id=formComment1 method=post name=formComment1 action=/discussion/comments.php><INPUT src="http://www.channelnewsasia.com/images/b_comment.gif" width=68 height=17 type=image> <INPUT id=storyid value={story_id} type=hidden name=storyid> <INPUT id=storytitle value="Former Ren Ci CEO admits to lying to cover up for Yeung" type=hidden name=storytitle> <INPUT id=storyurl value=/stories/singaporelocalnews/print/442851/1/.html type=hidden name=storyurl> </FORM>
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</TD></TR></TBODY></TABLE><TABLE border=0 cellSpacing=0 cellPadding=0 width=596><TBODY><TR><TD height=26 colSpan=3> </TD></TR><TR><TD vAlign=top width=5> </TD><TD vAlign=top width=591 colSpan=2>Former Ren Ci CEO admits to lying to cover up for Yeung
By Yu Cher Jou, 938LIVE | Posted: 16 July 2009 2128 hrs
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Ming Yi</TD></TR><TR><TD> </TD><TD class=update> </TD></TR><TR><TD> </TD><TD></TD></TR></TBODY></TABLE>
SINGAPORE: For the first time, Ren Ci's founder and former CEO, Shi Ming Yi, admitted in court on Thursday that he had helped his former personal assistant Raymond Yeung cover up an unauthorised loan.
Giving his side of the story, Ming Yi said he decided to help Yeung after "looking at the big picture".
Ming Yi, whose real name is Goh Kah Heng, explained that he had initially forgotten about a S$50,000 loan made to Yeung in 2004.
He only recalled the matter when Yeung confessed to him in January 2008 that the loan was made under Mandala's accounts without documentation.
Mandala is a shop that sells Buddhist artefacts and had dealings with Ren Ci. At that time, an audit commissioned by the Health Ministry into Ren Ci's accounts was ongoing.
Fearing his lies would be exposed, Yeung apparently called Ming Yi up to confess his mistakes.
The court heard that Ming Yi was stunned and "taken aback" by Yeung's admission. But he decided to help Yeung cover up the lies as he did not want Ren Ci's sick and needy to be affected by it.
While he admitted to helping his former PA cover up the unauthorised loan, Ming Yi denied forging any documents. He added that donations to the charity were sliding at that time and he did not want any harm done to Ren Ci.
Ming Yi and Yeung face charges for lying to the Commissioner of Charities, as well as for forging documents to hide the unauthorised loan of S$50,000.
- 938LIVE/so
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By Yu Cher Jou, 938LIVE | Posted: 16 July 2009 2128 hrs
<TABLE border=0 cellSpacing=0 cellPadding=0 width=260 align=right><TBODY><TR><TD width=20 align=right> </TD><TD width=240 align=right>
Ming Yi</TD></TR><TR><TD> </TD><TD class=update> </TD></TR><TR><TD> </TD><TD></TD></TR></TBODY></TABLE>
SINGAPORE: For the first time, Ren Ci's founder and former CEO, Shi Ming Yi, admitted in court on Thursday that he had helped his former personal assistant Raymond Yeung cover up an unauthorised loan.
Giving his side of the story, Ming Yi said he decided to help Yeung after "looking at the big picture".
Ming Yi, whose real name is Goh Kah Heng, explained that he had initially forgotten about a S$50,000 loan made to Yeung in 2004.
He only recalled the matter when Yeung confessed to him in January 2008 that the loan was made under Mandala's accounts without documentation.
Mandala is a shop that sells Buddhist artefacts and had dealings with Ren Ci. At that time, an audit commissioned by the Health Ministry into Ren Ci's accounts was ongoing.
Fearing his lies would be exposed, Yeung apparently called Ming Yi up to confess his mistakes.
The court heard that Ming Yi was stunned and "taken aback" by Yeung's admission. But he decided to help Yeung cover up the lies as he did not want Ren Ci's sick and needy to be affected by it.
While he admitted to helping his former PA cover up the unauthorised loan, Ming Yi denied forging any documents. He added that donations to the charity were sliding at that time and he did not want any harm done to Ren Ci.
Ming Yi and Yeung face charges for lying to the Commissioner of Charities, as well as for forging documents to hide the unauthorised loan of S$50,000.
- 938LIVE/so
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