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SPELLING IT OUT IN 'LAYMAN'S TERMS'

Minister for Law K. Shanmugam explains in Parliament what he called "losses" suffered by AHPETC in a simplified manner:

  • You have a business, with cash, valuables belonging to other people.
  • You don't know what exactly you have.
  • You put a friend in charge.
  • They take what they want of the cash.
  • You overpay them several million dollars.
  • You don't check.
  • Auditors say your accounts are in a mess, the accounts are unreliable, and that you have no clear idea of what happened to the cash.
  • And you say: no money is lost.