Tags
building fund, building fund proceeds, CHC, chc confessions, City Harvest Church, cover up, coverup, financial scandal, fraud, Kong Hee, pea-and-thimble, Phil Pringle, ponzi, Presence Conference, scam, scandal, thumblerig, xtron
Supporters of Kong Hee, (who is on trial with five of his colleagues on various charges pertaining to the alleged siphoning off of funds from CHC in Singapore), have long been maintaining that CHC suffered no financial loss, since bonds purchased from the company “Xtron” were fully redeemed.
This naturally raises the question:
“From where, exactly, did Xtron obtain the funds to repay CHC, since Sun Ho’s foray into the music industry was a complete flop and her album was never released?”
The answer to this conundrum has been revealed in a post on the CHC confessions Facebook page, wherein a recent post had this to say:
“One of the mysteries of the trial is the accused insistence that CHC did not suffer any loss through all the sham bonds. Now the mystery is finally solved in City News’s own report:
http://www.citynews.sg/2015/04/city-harvest-trial-arla-and-sof-investments-not-sham-maintains-tan/
“Although Xtron had used part of the ARLA to buy up the bonds, Tan explained that it was still obligated to provide the corresponding value for which CHC had paid, which in this case was the use of venue for a pre-agreed length of time. Xtron, on its part, would service this obligation with the expected revenue that was to come from the US album sales.
In essence, AMAC and Xtron were legally bound to compensate CHC for what it had paid.”
But since there is [sic] no US album sales, Xtron won’t have the revenue to service the obligation and [at] some point in time CHC will either have to forgive the obligation or force Xtron into bankruptcy – [in] either case the money is gone.
The same with the SOF with AMAC. The money is gone. CHC can sue AMAC but it is not likely that it will ever recover the money.
So it is not true that CHC has not suffered any loss – it is just that they are kicking the can down the road and sooner or later will have to pay the piper.”
Source: CHC Confessions, CHC Confessions, Facebook, https://www.facebook.com/CHCConfessions/posts/1003161419703235, 07/05/2015. (Accessed 15/05/2015.)
So what has apparently transpired is that since Xtron was unable to repay CHC, those whose scheme had been discovered – and who were desperate to clear the bonds off the books – resorted to an accounting thimblerig.
They simply shoveled more of CHC’s money into Xtron, a portion of which funds Xtron promptly returned to CHC as a repayment of the bonds, including both capital and interest due. Thus the accused have allegedly paid themselves (that is, Xtron) money with which they have subsequently reimbursed themselves (that is, CHC) to falsely convey the impression that Xtron is a profitable business being run at arms-length from CHC, rather than a shell company whose sole purpose is to facilitate the defrauding of CHC members via sham transactions. This practice is known as “round-tripping”, and it is illegal. It is over this matter, among others, that some of the accused parties are now being quizzed in the Singaporean courts. Naturally enough, attempts were made to disguise the ruse: funds that were allegedly round-tripped were referred to by the acronym “ARLA”, which stands for “Advance Rental Licence Agreement” (CW’s take on that is that “A Really Lame Artifice” would have been far more apropos).
Of course, even a novice who knows nothing at all about such things as business or accounting would be able to understand that if a business spends buckets and buckets of money but fails to earn a profit, then a loss has been incurred and there will inevitably be financial pain as a result.
The salient question for C3 adherents is “Does Phil Pringle understand that?”
This is because if he does, one could be forgiven for wondering why he has continued to mindlessly repeat the “No money was lost” mantra when it has long been clear that although Sun Ho spent CHC’s money like water to live the high life in the U.S., she never showed a return to justify the so-called “investment”.
Maybe Phil really is unquestioningly gullible, and he actually believes that no money was lost. Perhaps he would prefer to refrain from inquiring too closely or pondering too deeply, given how uncomfortable the truth would be for him – after all, he is both mentor and friend to Kong Hee, and his own credibility and reputation are very much on the line here.
But supposing we all give Phil the benefit of the doubt, what about the fact that he is supposedly a man of God who has a hot-line to the Most High? Why wouldn’t God have given Phil a “word” regarding the facts surrounding this tawdry affair? How is it that God is allowing his golden-haired apostle to back himself into the tiniest of corners without giving him a heads-up, without even dropping so much as the smallest of hints? Has Phil Pringle become like King Saul? Has he really become estranged from the One whom he purports to represent, and on whose behalf he presumes to speak?
TO PHILIP A. PRINGLE
We know that you read the articles on this site, Phil, even though you have strictly forbidden your followers from doing so.
We also know from our reliable sources inside C3 that you have recently discussed a certain unrelated issue with your “leadership”, and that you explicitly told those same “leaders” that you were unable to broach the subject with the wider membership of your organisation – that the information you gave was for the “leaders’” edification only, and was not for general consumption.
Given that precedent, we would like to know this, Phil Pringle: how much do you really know about Kong Hee’s case?
Have the “leaders” in your movement been apprised of facts to which the tithing drones in the pews have not been made privy? Surely you wouldn’t behave in a deceptive manner, would you? After all, you have been referred to as “Australia’s Pope”; indeed, you yourself have invited people to see you as an angel, and you have even, in all humility, have told people to liken you to the Old Testament prophet Elijah.
It’s all very heady stuff, and quite compelling – there’s no way a man of your caliber, an exulted personage of unimpeachable integrity, would deliberately withhold pertinent information from your followers…. is there? (Particularly since some of those followers have been been inveigled into giving money to support Kong Hee’s legal battle).
If we’ve got the wrong end of the stick, please feel free to comment here and set us straight, Phil; we await your anointed explanation with great anticipation.
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C3 Church Watch 
Oh boy oh boy! I get so excited when CW says PHIL reads this site! Personally I just wish he read more of my posts – so he can see things from the perspective of an ex-member of his movement.
Anyway, do you think Phil would reply? I think there’s more chance of his $550 signature pens making a comeback! Oh, wait….(depends on the cash flow); anyway it will probably be through one of his devoted ones, or family member.
I’m generally a nice person, though I personally think he’s dug himself into a hole with the King Kong matter and doesn’t know how to get out. Why would they black out sections of services, telling the church to Like c3 etc? It’s a shame really, all this.
Yet one of my tentacles has a very suspicious cup on it; I could let it scribble all over this webpage, alluding that Phil suggested Kong pull money from the CHC building fund (whether with good or bad intent), and now that it has all gone belly up, has been working hard to say good things about his ol’ pal, taking up love offerings, as well as importing Kong for fundraising trips (ie ministry)…..
But anyway – I was thinking just the other day – when you end up in a church environment such as this, and manage to jettison – it really makes you wonder if there’s any decent churches out there.
Anyway, over to you Phill. Hey – can I get a discount on one of those pens?
‘I get so excited when CW says PHIL reads this site!’
Poor old Phil can’t look away from this site any more than a narcissist can tear himself away from a mirror.
With all the goings-on in Singapore, I wonder if Mark Kelsey is contemplating the possibility of a promotion to “Senior Pastor” of C3OF. If so, he is also no doubt keeping a close eye on this site as he tracks Phil’s spiritual trajectory…
“After all, you have been referred to as “Australia’s Pope””.
Only by church watch.
A Google search for “Australia’s Pope” finds “Toro Australia’s Pope Easy Set Auto tap Timer” for your garden water sprinkler. Unless you are referring to Phil’s river or Phil’s dam busting days, I think you are mistaken.
“Only by church watch.”
If we wanted to insult Phil Pringle – yes. However, Kong Hee got people at Presence Conference 2012 to acknowledge Phil Pringle as the Pope of Australasia. So Kong Hee insulted Pringle for us.
Pringle appears to like insults applied to him like that.
“Even worse in terms of sycophantic remarks is this comment from Kong,
“C’mon! Let’s give it up for the Pope and the Bishop of Australasia: Phil and Chris Pringle!” – Presence Conference 2012, Night Session, 11/04/2012.
https://c3churchwatch.com/2013/04/14/kong-hee-to-phil-pringle-you-created-this-mess-youve-got-to-come-and-help-us-fix-it/
“But supposing we all give Phil the benefit of the doubt, what about the fact that he is supposedly a man of God who has a hot-line to the Most High? Why wouldn’t God have given Phil a “word” regarding the facts surrounding this tawdry affair?”
and even stranger, why would God have waited until after-the-fact of this tawdry affair, to inform PP of the facts surrounding it?
hmmm. wouldnt God have informed PP, >before< PP prophesied how greatly God was going to use KH?
needless to say, i hope noone has been basing their life on PP's 'words from God'.
this cluster of churches' seems to be based on nothing more than a mixture of lies & sinking sand..
nfg
I think what is not being said = This is very real and very serious, this is peoples money and this con needs to be exposed. People have gone broke! Giving money to Mr and Mrs Pringle who are not special and are no different to any other human. People who have been abused by a cult in what ever manner are very loath to tell there story for shame and embarrassment The leaders you speak of that provide insider feedback,why are they still there and why do they not speak publicly?
“This is very real and very serious”
What I find ironic is that a church which was actively running its building fun and the tithe guilt trip concurrently had the CAP program running – Christians Against Poverty.
Let’s play some bingo! Tell me if you’ve heard these! (Or been guilty of believing them):
– You’re cursed if you don’t tithe!
– Give your way out of debt!
– Your spiritual maturity is related to how much you give!
– The Disciples didn’t mention tithing because it was only the beginning, the benchmark of giving!
– (A Pastor) As soon as I get paid I run off to the bookshop and pay my tithe on the EFTPOS there….don’t want anything bad happening to me/devil out to rob me etc!
– The boy who gave the loaves and fish to Jesus went home with a huge basket of leftovers!
– Jesus was rich!!! (Refer KH 9 Reasons Why Jesus Was Rich sermon)
– After your tithe and paying your out of control debt, you should consider giving to the building fund!
– Equal sacrifice, not equal amount! (Which is bollocks because some c3’s give the “highest givers” a special high rollers dinner)
*I add that I don’t personally dislike most of these people, just what they’ve said. Oh and the invasion of my giving history. Plus they’re often told what to say in the tithing/offering message. Oops did I just say that?
Hi Squidaloopa
Have you read some of the earliest articles on our site. This is what they tackled at the beginnning.
As someone who left, I can testify to the pain involved. Some realize what is at stake and choose to “ignore” the things they don’t like. I lost many friends, in fact, I didn’t just lose them, they turned viciously on me for exposing the truth. It’s easy to say just leave but when you’ve been in it for decades, your life is wrapped up in it. Your kids attend and have their own social scene, your relatives, your in laws, the people who married you, the decades of shared memories and so much more….you get the drift. I couldn’t “ignore” the BS and I don’t think anyone should but at the same time, I understand the mentality because some just don’t want to lose it all and hope that things will change. As for me, I have a tendency to burn the bridges and let the chips fall where they may. At least I know who my real friends are at this stage in life.
Can’t agree more mate. Exactly what it’s like for me and some close to me. Some I still keep in touch with. I know that some others who have left – when they run into someone still there (particularly leadership) – they put their head down and walk away from the person who’s left, like the leader is embarrassed or such.
With any luck, old phil may turn up as a character witness for kong. A bit off topic, sorry CW…but I could just imagine if phil turned up…..Scene One:[A time in the near future..in a singapore court]
PP: “Your honour, may i approach the bench?”
Judge:”Certainly”
PP: “I am a river”
Judge: “Baliff, get this madman out of here”
PP: “I have a pocketful of miracles”
Judge: Are to attempting to bribe an officer of the Law mr pringle?”
PP: “Err…i must be going..so many things to do…tithes to collect..souls to save…that sort of thing. You’re on your own brother kong.”
PP: “Your honour, may I approach the bench?”
Judge: ”Certainly”
PP: “I have a word from God for you… If you donate your income to C3 this year, and ask no more questions, God will use you in GREAT ways.”
Judge: “Mr pringle…”
PP: “Add an extra $1000, and He will bless you with front row seats at next year’s conference. There will be Angels there…”
KH: “Throw in your house for CHC, and oooh God will REALLY bless you Judge. Let’s have a big clap offering for the Judge!”
PP: “All this dunamis in my body, I feel like I’m about to explode!”
Judge: “Order ! Order !! Baliff !!!”
Very good. Although the ending should have pp scurrying away repeating “Ho Ho Ho, Hee Hee Hee.”
Still no reply here from Phil Pringle. What’s the matter mate – cat got your tongue?
Have you told your congregation the truth yet Phil? I’m sure they’d be interested to know how Kong and Sun helped themselves to a cool SG$24,000,000 of their faithful followers money and managed to turn into a big, fat ZERO.
What do you think went wrong, Phil? After all, Kong was tithing, wasn’t he? Although, of course, he was tithing TO HIMSELF through the MPA. Is that because he thinks he’s God, Phil? Maybe he thought that he could tithe his money and keep it too, and fool the Most High into blessing him for blessing himself. (I guess that Kong thinks he can get away with anything; he must reckon that the creator of the universe is blind, deaf, and dumb – can’t imagine who gave him that idea). What a scheme, eh? A double blessing, and all his followers who are giving until “tears run down their faces” are none the wiser! (It’s not hypocrisy if it remains hidden, right?) I wonder who taught him that neat trick – have you got any thoughts on that Phil?
And what about the fact that you told Kong not to do anything illegal? Does a true minister of the Gospel really have to be reminded not to break the law? Did Peter have to warn Paul? Did he till him “I know you’ve got a big collection for the church in Jerusalem, you just make sure that you don’t steal that money, because that wouldn’t be right”. Anyway Phil, it’s a shame that your star pupil didn’t pay any attention to your sage advice. It’s also a big shame that you didn’t also advise him not to do anything immoral or just plain stupid. Maybe you’ll have better luck with your next mentoring project, eh?
A regular contributor to Mrs Light FB page wrote this recently, quote:-
“Earlier CEH had imply that ‘bridging loans’ are common financial legal transactions in the commercial industry. As far i know, bridging loans are commonly used as an initial loan (to help individuals/developers tie over the initial period of a project) before permanent financing can be secured for a certain project. However, the bridging loan is often paid back against the later ‘permanent’ loan so that the quantum for payment is actually higher than the 2nd ‘permanent’ loan. The $26.6 million used to ‘redeem’ the initial bonds issued, cannot be defined in this context as a ‘bridging loan’.
“The $26.6 million used to ‘redeem’ the initial bonds issued, cannot be defined in this context as a ‘bridging loan’.”
Quite so: the money wasn’t so much a “bridging loan” as a bridge to nowhere.
A bridge for truckloads of cash to ‘crossover’ and fill Kong Hee’s bank account!
Even the Wall Street Journal covered Kong Hee’s scam. Pringle’s star “pupil” has been splattered over front pages from Singapore to New York to London. Channel News Asia and other TV broadcasters have covered most of Asia with the Kong Hee scam. When the Cricket World Cup 2015 semi final between India and Pakistan, was broadcast. experts claim that one billion viewers watched via TV and 25 million via internet.
Allowing for worldwide coverage via all forms of media, it could be proved that about one billion people are aware of the Kong Hee, CHC CBT case. Certainly 100% of Singaporeans are aware and 99.9% are absolutely disgusted.
As a result of the above I maintain that no-one in history has done more damage to the cause of Christ than Phil Pringle’s protege Kong Hee. It’s probable that Kong Hee has adversely affected the eternal salvation of one billion souls.
Kong Hee often says that he is where he is today because of Pringle. As of 14th June 2015, Kong Hee is in a major major mess. 138 days of court action against him proving CBT ain’t exactly a walk in the park.Although Pringle has (*errrrrrrr uhmmmm *cough* *cough* *cough* *splutter* *cough*) “prophesied” that Kong Hee will not spend one day in prison the weight of evidence, against him, in Singapore’s longest running trial, says he will go inside for a very long time. When Kong Hee is in prison he can declare that he is there because of Pringle.
The Konster monster that Pringle has created could conceivably block one billion souls from being saved, in other words Pringle has conceivably blocked one billion souls from being saved..