Ren Ci continues without CEO

The longtime chief of Ren Ci has stepped aside as a probe deepened this week into an accounting scandal that has dogged the Buddhist charity since November. Venerable Ming Yi, the charity’s chief executive officer, went on leave Monday, the day white-collar crime investigators began pouring over Ren Ci’s books.

The monk’s decision was welcomed on Tuesday by Health Minister Khaw Boon Wan, who called it ‘a professional response.’

Mr Khaw brought in investigators from the police’s Commercial Affairs Department (CAD) on Monday to investigate several million dollars in questionable loans made by Ren Ci.

Some of the firms that received money had strong links to the Venerable Ming Yi, also an abbot at a Geylang Monastery.

His decision to step aside should ‘facilitate the CAD investigation’, Mr Khaw said. (story)