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.