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Tag Archives: building fund

Ponzi Pastor Playing Pea-and-Thimble with Building Fund Proceeds?

19 Tuesday May 2015

Posted by Nailed Truth in C3 & Pringles Associations

≈ 20 Comments

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.

Phil Pringle CHC Kong Hee Cover up

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.

RELATED ARTICLES

Phil Pringle Interview = Damage Control (Part 1)
Pringle Encouraging CHC Members To Shun Criticism & Promote “Good Guys”
Of Course Pringle Is Uh- Telling The- Uh- Truth About Kong Uh- Hee And Sun- Uh-Ho!
Phil Pringle Misleading His Church Over Kong Hee’s Case

Kong Hee To Phil Pringle: “You created this mess! You’ve Got To Come And Help Us Fix It”
Kong Hee Again Blames Phil Pringle For SunTec Mess: “… it’s all your fault, Pastor!”

“For nothing is hidden that will not be made manifest…” (Part 1)
“For nothing is hidden that will not be made manifest…” (Part 2)

PRESENCE CONFERENCE 2011 KONG HEE FINANCIAL SCAM
Prophet Pringle Plundering People’s Pockets For Kong Hee’s Cause

PRESENCE CONFERENCE 2012 KONG HEE FINANCIAL SCAM
Where There’s A Phil There’s A Way

PRESENCE CONFERENCE 2013 KONG HEE SCAM
Beyond Words… Pringle Sinks To New Depths At Global Presence Conference 2013

PRESENCE CONFERENCE 2014 KONG HEE SCAM
Phil Pringle’s Kong Job At Presence 2014 (Part 1)
Phil Pringle’s Kong Job At Presence 2014 (Part 2) Hillsong “Stands” with C3 & CHC?
Phil Pringle’s Kong Job At Presence 2014 (Part 3) All faith – no substance
Phil Pringle’s Kong Job At Presence 2014 (Part 4) Kong’s “selfie” sermon.
Phil Pringle’s Kong job at Presence 2014 (part 5): Kong Hee and Phil Pringle Undermining Singaporean law?

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“For nothing is hidden that will not be made manifest…” (Part 1)

26 Saturday Jul 2014

Posted by Nailed Truth in C3 & Pringles Associations

≈ 24 Comments

Tags

building fund, c3, c3 church, Christian City Church, City Harvest Church, connect group meeting, crossover, crossover project, illegal, Kong Hee, meeting, Phil Pringle, prayer meeting, Pringle, Rise & Build, rise and build, Singapore

Ps Kong Hee and Ps Phil Pringle

“… nor is anything secret that will not be known and come to light.” – Jesus, Luke 8:17

INFORMATION PRINGLE DOES NOT WANT LEAKED TO THE MEDIA…

On the 9th of June in a Sunday morning service last year, Phil Pringle blacked out his stage cameras to report on issues regarding the Kong Hee scandal. C3 members leaked information to C3 Church Watch as to what Pringle said in the media black out.

What Is Phil Pringle Trying To Hide? *Update 3* (03-07-2013)

Last year we had Phil Pringle request his church attend a private Tuesday night meeting after the typical C3 prayer meeting. He made the below announcement on Sunday morning, the 3rd of November, 2013.

Is Pringle Distancing Himself From Kong Hee & Sun Ho?

How did we come across this Tuesday night meeting? C3CW only found about this meeting when their readership spiked the week after the meeting happened. So they decided to tune into the previous week’s online sermon to see what Phil Pringle might have said about them. Whatever was said at that Tuesday night meeting caused C3 leaders and members to come visit the C3CW website. As a result of this meeting, people have since talked to C3 Church Watch as to what was said by Phil Pringle.

They informed C3CW that Pringle mentioned their website by name and they disclosed other information as to what was said at that meeting. C3CW were also informed by C3 people as to what was said in that meeting about Kong Hee. They have started to question how involved Pringle was with Kong Hee’s issues. According to some of these sources, Pringle appeared to be distancing himself from the conduct of Kong Hee’s approach to the building fund. C3CW also received a loose transcript from what was said at that meeting from someone else who attended. That C3 member attempted to recount what Pringle said about their correspondence with Kong Hee:

PP: Don’t do anything illegal.

KH: That’s alright. We can do that in Singapore.

PP: You couldn’t do [any of?] that in Sydney. You couldn’t take money out of the building fund.

After analysing the various discussions, C3CW were able to confirm that these numerous C3 members statements were saying very similar things.

OUR CONCERNS

And now I am expressing my concerns as a C3 member about C3 Leaders and what was said in that Tuesday night meeting.

There is no transparency at C3.

Ask yourself this question: whose names are C3 properties registered in? Is it in Phil Pringle’s name or some special entity which Phil Pringle and his closest associates totally control? After all it’s the church members who have financed the properties with their giving over many years. As yet C3 members have no idea how the ownership of the assets of the church are structured. Phil Pringle late last year after a Tuesday night Prayer meeting  at the Connect Leaders meeting (held immediately after the Prayer Meeting), said in that meeting that he would be releasing the Church Financial accounts to members in early 2014. Absolutely nothing has been released to date. I think he is hoping all those present have forgotten the statement he made about Church accounts. Again just spin and misleading statements from Phil Pringle. The C3 property and financial structure issue needs to be investigated and may even be worth approaching some journos to fully investigate these matters.

Phil Pringle again at that Connect Group Leaders meeting in my opinion, basically misled church leaders about the CHC/Kong Hee legal case.

WHAT ELSE WAS SAID ON THAT TUESDAY NIGHT MEETING?

At  that Tuesday night meeting on the 5th of November, Phil Pringle talked about his involvement with Kong Hee in Singapore.

From memory Phil Pringle said that he told Kong Hee that C3 would not be allowed to do what CHC did regarding the crossover project from the  C3 building fund. I think he also talked about the Singapore governments persecution against Kong Hee.

I believe Phil Pringle was making a connection to the C3 building fund. From memory Phil Pringle said to Kong Hee that in Australia, C3 could not use their Building fund to do something like the crossover project that Kong Hee was doing. From memory, I think Pringle said that Kong Hee was asking him for advice on what Kong Hee was planning to do regarding crossover. I think Pringle then said that Kong Hee then decided to move forward with the Crossover project, even though Pringle said they couldn’t do anything like that in Australia. I am pretty sure it was not recorded as Phil Pringle said all this after a Tuesday night prayer meeting (which carried over then into a connect group leaders meeting where he said these things).

WHAT ELSE IS GOING ON IN C3 LEADERSHIP?

I know that when some C3 pastors are asked about Kong Hee or Yonggi Cho, they usually plead ignorance, or they say they don’t know much about what is going on. However I think they have been instructed to plead ignorance or spin the official C3 church line when confronted by questions from C3 members. I know this has happened to church members. Furthermore, Phil Pringle has told Church members not to look at C3 Churchwatch on the net.

I  am sure some C3 Church Pastors do believe in Transparency, and Governance.  Pastors and numerous members are fully aware of the global press articles on the Yonggi Cho Korean situation and the CHC Singapore court case. News globally these days over the internet is available instantaneously.  I believe there is some underground disapproval of what is happening in the Singapore and Korean situations within the C3 Church community.

CONCLUSION

What continually gets to me is the lack of transparency and governance of Phil Pringle. My pastor’s mentor Yonggi Cho has been convicted for mishandling church funds. My pastor’s underling, Kong Hee, copied my pastor’s Building Fund program and is now in trouble over how he has handled building fund money. And now Phil Pringle is saying that Kong Hee’s Building fund is done in a different way to his own? Are we to believe him at face value?

It was Phil Pringle that said,

“Kong Hee in Singapore picked up [my] idea and he calls his ‘Rise and Build’ and just takes the whole thing, copies it exactly and raises sixty million US for- and he paid it debt free for his building there in- in Singapore”. [Source]

Don’t forget this comment from Kong Hee:

“Ah- I thought I’m gonna show you a video. This is our ‘Rise and Build’ video and- Many people come to City Harvest Church and they look at our church. Look at our pulpit. Our Rise and Build. And they say, “Hey! Why is it that in Australia they kinda copy after you?”Well actually we came here and copied everything from Christian City Church. So we have our own Rise and Build and I just thought I show you this latest installment where we anounced to our church, SunTec City Convention Center.” – Kong hee, C3 Presence Conference, Session 4, Sydney, 2010. [Source]

I would like to point out some interesting articles that establish that the C3 financial structures within it’s movement aren’t that ethical (I will publish this article soon). Still Phil Pringle urges us to trust him? He needs to prove he can be transparent first.

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“City Harvest Church’s Kong Hee’s statement regarding charges”

26 Thursday Jul 2012

Posted by plebchristian in News Articles

≈ 1 Comment

Tags

2012, 25 july, alleged, arrest, bond investments, building fund, c3 church, CAD, charged, CHC, CHC statement, Chew Eng Han, City Harvest Church, COC, commercial affairs department, Commissioner of Charities, court case, court hearing, criminal breach of trust, Daniel Gorter, falsification of accounts, falsification of church accounts, Ho Yeow Sun, Kong Hee, Kong Hee statement, Lam Leng Hung, misappropriating church funds, misuse of church funds, Mr Edwin Tong, music career, myc3churchreview, S$24 million, S$26.6 million, S$50 million, S$500 000 bail each, scandal, Serina Wee Gek Yin, sham transactions, Sharon Tan, Singapore, Sun Ho, Suntec City, Sydney, Tan Shao Yuen Sharon, Tan Ye Peng, Teo Chee Hean, todayonline.com, trial

From the todayonline.com website:

City Harvest Church’s Kong Hee’s statement regarding charges

Updated 11:43 PM Jul 25, 2012

SINGAPORE – Founder of City Harvest Church, Kong Hee, has released a statement on the charges brought against him. The following is his statement in full.

“The Prosecution has brought 3 charges against me, which I have carefully considered with my lawyers.

“I do maintain my integrity, and will rigorously defend that integrity against these charges.

“I have and will continue to place my faith and trust in our judicial system. I will explain the facts and circumstances to the Court, and am confident that I will be vindicated.

“Sun and I would like to take this opportunity to thank God for all the people who have blessed us with their love, kindness and prayers during this challenging period of time. We have been tremendously humbled by the support and encouragement from the public, family and friends. We especially thank all those from City Harvest Church and the Christian community at large. They have been a constant source of strength.

“I respect the Court proceedings which are underway, and will not make any comment about the charges until the appropriate time and forum.”

Source: http://www.todayonline.com/Hotnews/EDC120725-0000160/City-Harvest-Churchs-Kong-Hees-statement-regarding-charges Accessed 26 July 2012 1230 hrs

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“6th City Harvest Church executive charged”

26 Thursday Jul 2012

Posted by plebchristian in News Articles

≈ 6 Comments

Tags

2012, 25 july, 30 August, 6th executive charged, alleged, arrest, bond investments, building fund, c3 church, CAD, channelnewsasia.com, charged, CHC, Chew Eng Han, church accountant, church books, City Harvest Church, Claire Huang, COC, commercial affairs department, Commissioner of Charities, court case, court hearing, criminal breach of trust, Daniel Gorter, false entries, falsification of accounts, falsification of church accounts, Ho Yeow Sun, Kong Hee, Lam Leng Hung, misappropriating church funds, misuse of church funds, Mr Edwin Tong, music career, myc3churchreview, next court hearing, next mention 5 weeks later, Oxford Falls, Phil Pringle, Qiuyi Tan, round-tripping, S$24 million, S$26.6 million, S$50 million, S$500 000 bail each, scandal, Serina Wee Gek Yin, sham transactions, Sharon Tan, Singapore, sixth, Sun Ho, Suntec City, Sydney, Tan Shao Yuen Sharon, Tan Ye Peng, Teo Chee Hean, trial

From the channelnewsasia.com website:

6th City Harvest Church executive charged

By Qiuyi Tan/Claire Huang | Posted: 25 July 2012 0952 hrs

SINGAPORE: Another person has been charged in relation to the City Harvest Church court case.

City Harvest Church’s former finance manager, Serina Wee Gek Yin, was read 10 charges – six related to criminal breach of trust and four to falsifying accounts.

She joins five others, including founder Kong Hee, who were charged last month with misappropriating money from the church’s building fund.

Some S$24 million was allegedly transferred from the church’s building fund account to two companies as bond investments.

These were alleged to be “sham transactions” meant to mask the diversion of the church’s building fund to finance the pop music career of Sun Ho, the wife of Kong Hee.

A further sum of $26.6 million was allegedly used to create the impression that the sham bonds had been fully “redeemed”, a process called “round-tripping”.

Wee, 35, was the first amongst the defendants to arrive in court on Wednesday, wearing a black dress and sunglasses.

She was accompanied by her husband and her lawyers.

Court papers said she was involved in a conspiracy to misappropriate millions of dollars of church funds which were allegedly channelled into bond investments.

Wee allegedly instigated a church accountant to record false entries in the church books on four occasions.

In court with Wee were the five other church members who had been charged earlier.

They are Kong Hee, senior pastor Tan Ye Peng, investment manager Chew Eng Han, finance manager Sharon Tan, and board member Lam Leng Hung.

From as early as 7.30am Wednesday, City Harvest Church supporters gathered at the carpark outside the Subordinate Courts.

They began to stream into the court at around 8am.

The court session lasted all of 15 minutes and every minute was filled with tension.

Supporters of the church packed the public gallery within minutes of the courtroom opening, while people from the media and the defence lawyers of the six accused persons filled the other half of the courtroom.

Kong Hee is represented by Mr Edwin Tong, while the rest have engaged senior counsel.

During the session, prosecution and defence came to agreement that the next mention will be 5 weeks later, on 30 August, so that all cases can be brought up at the same time.

All six are claiming trial and are out on bail of S$500,000 each.

– CNA/cc/ir/wm

Source: http://www.channelnewsasia.com/stories/singaporelocalnews/view/1215562/1/.html Accessed 26 July 2012 1230 hrs

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Empty your Bank Account | Phil Pringle’s negligence in allowing Kong Hee to fleece at Presence 2012

24 Tuesday Jul 2012

Posted by plebchristian in Phil Pringle's Connections with Kong Hee

≈ 4 Comments

Tags

2012, 25 july, alleged, alms giving, arrest, bible twisting, bond investments, building fund, c3 church, CAD, channelnewsasia.com, charged, CHC, Chew Eng Han, Chris Pringle, City Harvest Church, COC, commercial affairs department, Commissioner of Charities, court case, court hearing, criminal breach of trust, Daniel Gorter, Darling Harbour Convention Centre, eisegesis, empty your bank account, falsification of accounts, falsification of church accounts, firstfruits, fleecing, Ho Yeow Sun, Joanne Chan, John Bevere, Kong Hee, Lam Leng Hung, Mark Kelsey, misappropriating church funds, misuse of church funds, music career, myc3churchreview, negligence, next court hearing, Oxford Falls, Phil Pringle, Presence Conference, prophecy, round-tripping, S$23 million, S$50 million, scandal, seed offering, sham transactions, Sharon Tan, Singapore, Steven Furtick, Sun Ho, Suntec City, Sydney, Tan Shao Yuen Sharon, Tan Ye Peng, Teo Chee Hean, tithe, trial

From myc3churchreview.wordpress.com

[Email c3churchwatch@hotmail.com for access to the original audio/video of Kong Hee played in this review.]

I received some positive feedback from my last video review and so I decided to record another. This particular review focuses on Phil Pringle’s negligence in allowing Kong Hee of City Harvest Church Singapore to collect the opening offering on opening night at Presence Conference 2012, all the while being under investigation for misuse of church funds, about which Phil Pringle was completely aware and yet failed to mention any of the relevant details concerning the investigations to those attending the conference and watching online via live webcast. I critique Kong’s offering talk wherein he twists God’s word to fleece the audience.

Instead of getting the facts, the audience was fed a one sided propaganda piece, painting Kong as the victim and Phil Pringle as the hero who swooped in to save the day. As you watch this review, ask yourself: would the audience have been so willing to hand over their money at the conference if they knew that the man encouraging them to ‘give’ was currently under investigation for misuse of church funds? I don’t think so. This review will focus on Phil Pringle’s NEGLIGENCE in allowing all this to happen.

Please share this video with anyone you know who attends a C3 Church affiliated with Phil Pringle, especially if they attended this year’s Presence Conference 2012 (April 10-13, Darling Harbour Convention Centre, Sydney)

Below you will find links to the news articles I play in this review.

City Harvest’s founder Kong Hee, four others arrested – 26Jun2012

[Disclaimer: I agree with the statement made by Deputy Prime Minister and Home Affairs Minister Teo Chee Hean in this video that the law should be allowed to take its course and speculation or pre-judgments should be avoided. Therefore, I do not endorse Joanne Chan’s explanation concerning how CHC’s funds may have been misused over the years (see video at 2:20), as this could be considered by some as speculation and pre-judgement.]

City Harvest’s founder Kong Hee, four others charged – 27Jun2012

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Prophets for Profit | Sermon Review: “Make Room for God” by Phil Pringle of C3 Church

24 Tuesday Jul 2012

Posted by plebchristian in Sermon Reviews

≈ 2 Comments

Tags

Andrew Tyndale, bible twisting, building fund, c3 church, Daniel Gorter, eisegesis, make room for god, myc3churchreview, Oxford Falls, Phil Pringle, Presence Conference, prophets for profit, sermon review, sydney australia, Terrence Mullings, vision builders

From myc3churchreview.wordpress.com

This video is a full length (90 minute!!) review of a sermon preached by Phil Pringle of C3 Church Oxford Falls, Sydney, Australia. The sermon is entitled “Make Room For God” and was released in iTunes on 21/07/2009.

The main theme of this review is “eisegesis”. I point out how Phil Pringle imposes his own agenda onto the Biblical text in order to manipulate people into donating money to the C3 Building Fund.

Please share this video with anyone you know who attends a C3 Church affiliated with Phil Pringle.

p.s. I apologise for the poor audio/visual quality. Due to the length of the video it was necessary to compress it for upload to YouTube and so naturally the quality has been significantly diminished. Again, my apologies.

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