PRC Yang Yin’s LPA revoked by multimillionaire widow
At a press conference held today (23 Sep), Ms Hedy Mok, niece of 87-year-old multimillionaire widow Chung Khin Chun, and her lawyers gave an update on the legal tussle with PRC tour guide Yang Yin, over Mdm Chung’s $40 million assets.
The lawyers disclosed to the media today that Mdm Chung has applied to the Office of Public Guardian to revoke the Lasting Power of Attorney she granted to Yang in 2012.
Mdm Chung’s lawyer Mr Eugene Thuraisingam said he has met Mdm Chung and “received instructions” this afternoon to revoke the LPA.
According to the lawyers, Mdm Chung has been medically certified to be mentally capable of doing so.
Yang, 40, met Mdm Chung in 2008 when she was on holiday in Beijing. Yang later came to Singapore and moved into her bunglow the next year. He also set up a dance studio with a paid-up of $10,000, which employed him as the CEO. He was able to obtain an Employment Pass, which allowed him to stay and work in Singapore.
Ms Mok’s lawyer Peter Dorisamy also said a suit has been filed against Yang for allegedly abusing his powers under the LPA. “He has breached his powers and therefore, certain losses have risen from, we say, those actions and we are recovering loss and damages,” said Mr Dorisamy.
At the moment, Mdm Chung is living with Ms Mok.
Ms Mok is currently applying to the court to be appointed as deputy to Mdm Chung, which will give her control over her aunt’s assets. Ms Mok said that if she is appointed, she will deal with the assets according to her aunt’s original wishes and that is to donate everything to charity.
Yang was arrested on 17 September 2014 for suspected criminal breach of trust (‘Latest: PRC Yang arrested for alleged CBT‘) but is currently out on bail, said to be posted by a Singaporean woman.
It was reported in the media on Sunday (21 Sep) that at least $10 million worth of Mdm Chung’s assets – including jewellery and works of art – have gone missing. Ms Mok decided to initiate legal action against Yang last month, especially after she discovered that some of her aunt’s jewellery and art pieces were missing.
It was also reported earlier by the media that some of Mdm Chung’s savings have been emptied from her bank accounts. Her valuables, jewellery and works of art kept in her home’s safe have also been removed.
Meanwhile, Ang Mo Kio GRC MP Intan Mokhtar, who is also the “grassroots adviser” for the Jalan Kayu ward within the GRC, has....
http://www.tremeritus.com/2014/09/23/widow-to-revoke-lpa-she-granted-prc-yang-yin/