Kong Hee, the founder and senior pastor of City Harvest Church, was found guilty with five other church leaders of stealing 24 million Singapore dollars (USD 17 million) designated for building and investment-related purposes through sham bond investments.
The State Court also found that they used another 26 million dollars (USD 18.5 million) to hide the first embezzlement from auditors. It is a rare case of corruption of such magnitude in the city-state, which has an image of being highly law-abiding and largely graft-free.
"Evidence points to a finding that they knew they were acting dishonestly, and I am unable to conclude otherwise," he told a courtroom packed with church supporters, who formed long queues since early morning to get seats.
No date for sentencing has been set. The penalty for criminal breach of trust is a maximum of life sentence. For falsifying accounts, the penalty is a maximum of 10 years in jail and a fine.
They felt funds were rightly used to finance the church's Crossover Project, with stated aims to use pop music to reach out to non-believers, of which Kong's wife, Ho Yeow Sun is the face.
The stolen money was first pumped into a music production firm and a glass manufacturer, but these companies were owned by longtime churchgoers and ultimately used funds to support the secular music pursuits of Ho, who did not face any charges.
Ho has released five Mandarin albums in Taiwan. She broke into the US market in 2003, appearing in several videos. According to a 2014 annual report, the church has a congregation size of about 17,500.
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