Hillsong stung by Affinity fallout

Bankrupt ex-Affinity director
Daniel Ku. Photo: SiN Images.

THERE’S plenty of forgiveness in the Castle Hill chapter of the Hillsong church.

Three years after dozens of parishioners lost almost $5 million in bad property investments spruiked by two church members, SiN understands the pair still attend services.

Forgetting however, is not as easy. Former church member Dr Leslie Indrasith lost $400,000 investing in the high-yield property investments promoted by his fellow church goers, Daniel Kaming Ku, 40, Adrian Ming-Chi Chen, 36 and Darren Garwai Chek, 35.

The three men were founders and directors of Affinity Capital Pty Ltd, a property investment business that grew out of their work as mortgage brokers.

They initially funded Affinity through a mixture of loans from financial institutions, family members and friends.

But after the group collapsed in late 2008 owing almost $15 million to unsecured creditors, extensive investigations by liquidator Gavin Moss found no compelling evidence of fraud or Corporations Law breaches.

What Moss did find was a litany of the failings so prevalent across the property development sector.