nkf story - perjury can be fun?

Perjury in court? 'He (David Tan) was accused of lying and of fabricating stories, in order to help out long time associate TT Durai, the NKF's former chief.' Today paper reported. Now is that a serious accusation? If proven, does it mean that he can be jailed? Does David Tan know the consequences of what he is saying? And he had been reminded to tell the truth, which now becomes a mess of contradictions. Maybe truth is just like that, a big contradiction.