Ex-tour guide fighting over S$40 million fortune flaunting lavish lifestyle, says paper
A Chinese national, who inherited an 87-year-old Singaporean widow’s S$40 million (RM104 million) fortune, is now embroiled in a legal battle with the latter’s niece, reports The Sunday Times today.
Former tour guide Yang Yin (pic), a Singaporean permanent resident, met Chung Khin Chun, a retired physiotherapist, in 2008 when she was on holiday in Beijing. He moved to Singapore a year later at her urging.
Chung’s husband died in 2007 and they had no children. She was also diagnosed with dementia in 2014.
The paper reported that Chung called Yang her “grandson” and asked him to move him to take care of her and her finances. Yang, his wife and two children moved into Chung’s S$30 million bungalow in 2013.
In July 2012, Yang was granted a lasting power of attorney over Chung’s assets. Two years earlier, Chung revised her will, leaving everything, including the bungalow, to Yang.
Hedy Mok, 60, the owner of a travel agency, began court proceedings in August to revoke Yang’s guardianship of her aunt's S$40 million assets, said the paper.
The Sunday Times today reproduced online photographs showcasing Yang’s flamboyant lifestyle.
Yang and his wife, Weng Yandan, went on holidays in Hong Kong and Japan, stayed in luxury hotels and bought designer items.
In his blog, Yang boasted about his wealth.
“Let my cash vault grow towards S$50 million! Come on, money, I love you!” he was quoted as saying in September 2012.
The paper reported that Yang’s assets have now been frozen, preventing him from disposing of any asset in Singapore and overseas.
The Immigration and Checkpoints Authority is also probing into Yang’s permanent residency.
Yang is also subject of a police investigation after he falsely listed himself as a director of the Singapore Chinese Chamber of Commerce and Industry, which claimed it did not have any record of the former tour guide. – September 14, 2014.
