City Harvest Church - Christian Loan Sharking!???

 

CHRISTIAN "ALONGISM"

The English language calls them loan sharks.  Malaysian colloquailism names them as Ah Loongs, spelt as Along which probably came out of the Cantonese colloquail "dai yi loong" or big ear hole. I am not quite sure why the Cantonese call them "big ear hole". All we know is that they give out illegal loans to people who urgently need cash at exhorbitant interests.  The City Harvest Church appears to be guilty of this - illegal money lending at exhorbitant interest.   

CHC Sues Chew Eng Han

The headlines read "City Harvest Sues ex church leader in $21M lawsuit".  That ex-church leader is none other than Chew Eng Han, the guy that got 6 years in jail, being the next longest sentence to the 8 year sentence passed on this ex-leader's leader, the now infamous Kong Hee.   Apparently, in our eagerness to hear the government's case against them, we all missed noticing that on Oct 10, 2013 CHC filed that suit against Chew Eng Han for repayment of the outstanding sum.  It appeared that Chew Eng Han had enticed CHC to "invest" some monies into his investment company AMAC Capital Partners in return for high returns and sign a personal guarantee to CHC for the money to be "invested". CHC then went ahead and "invested" sums of $3M or more each time, up to 16 times in all which were to be repaid in a short period with "interest". CHC through AMAC Capital Partners had also loaned  some money to the Transcu Group for high interests. 

Now, how an "investment" brings "interests" in returns is beyond me.  But it appeared that CHC charged very high interests on these investments. How high is high? Well, one such transaction amounting to $2.45M for a one week duration was charged at 52% interest per annum! Hmmmm. That sounds like it is even higher than the outrageous interest rates charged by the ubiquitous Alongs in Malaysia!  In another one week transaction, the $1.5M  loan was repaid with 152% interest!  WOW! WOW! WOW!  Well, Chew Eng Han and his company repaid the loans except for four loans given to Transcu Group, and they defaulted with the outstanding sum of $21M, inclusive of interest of $4.6M ( You work out the % for yourself).

Why Sue Chew Eng Han?

This is just my conjecture.  When going is good, Christians often go round with "brother! brother!". When the going goes bad .. ... and the going went bad here. Chew Eng Han is sore that he has been charged in court for fraud and probably more sore that Kong Hee tried to make himself look good in court.  So we all know that Chew Eng Han hit at Kong Hee in court, do we not?  And so, Kong Hee is sore that Chew Eng Han hit at him in court and he hit back with a lawsuit for the $21M.  And what is Chew Eng Han's response?

"Why should I pay you back?" 

Chew Eng Han is now using his lawyer A. Rajandran to argue in court that he does not need to repay the remaining $21M since it is an ILLEGAL LOAN, given in violation of the Money Lenders Act.  The judge, in allowing Chew Eng Han to defend the case had ruled that CHC does appear to have infringed the law by acting as an illegal money lender, since the monies  "invested" are not really investments, but with the purpose of earning high interests.

So there you go! When thieves fall out, the shit hits the fan.  More will be coming out when the case is heard in court later, i.e. on 18th December, 2015. Let us wait and see.

So, what does the bible say about lending money with interest?

Deuteronomy 23:19 Thou shalt not lend upon usury to thy brother; usury of money, usury of victuals, usury of any thing that is lent upon usury:

Well, Kong Hee can always argue he lent the money to AMAC Capital Partners which is a company and not a brother in Christ and so he should be allowed to charge interest on it.  And of course, with his charisma many so called Christians will clap hands and nod their heads in agreement.



As for you goody goody christiany christians and pastors out there! Instead of going round telling everybody to "forgive them", so that you can look and sound christiany.. stop and think. Did CHC and Kong Hee steal from you and me? NO! So, for what do I owe them any forgiveness? NONE! But what do the scriptures say about wrong-doing elders in the body of Christ? 1Timothy 5:20 says "REBUKE THEM before all so that OTHERS may fear". So, Mr Christiany Pastor, why are you ignoring this scripture? WHY?


What says the bible in John 8:32? "And you shall know the truth, and the truth shall make you free."

Related Posts:

1. Of Pastor Kong Hee And His Defenders
2. Guilty Chc Six - Jail Sentences
3. Guilty!! Howso The Judge Saith It
4. Hypocrite Churches - Restore The Criminal But Forget The Victim
5. Of Corrupted Churches And The Power Of Mind Control

AMAC Capital Partners

AMAC Capital Partners

AMAC Capital P