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#1
15-01-2015, 02:00 PM
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Yang Yin: $1.13 million is mine. Thick Hide FTrash - Old Dud Got What He Wished For!
An honorable member of the Coffee Shop Has Just Posted the Following:
Yang Yin: The $1.13 million is mine   January 14th, 2015 |  Author: Editorial  In the latest twist in the Yang Yin saga, Yang Yin has filed court papers saying that the $1.13 million cash in his 4 OCBC bank accounts belonged to him as it was a gift from Mdm Chung Khin Chun in December 2010.He previously filed papers in court stating that he was merely holding on to the money for Mdm Chung. As to why he is changing his position now, he explained, “I am not proficient in English.” Yang may not be proficient in English but certainly, he knows enough English to liase with Dr Intan, his MP. In fact, he used to be a grassroots member in the neighborhood committee of Jalan Kayu in Ang Mo Kio GRC, serving under Dr Intan. In his grassroots work, he was also an “Integration and Naturalization Champion”, helping foreigners and Singaporeans integrate with one another.  Despite Yang saying that he isn’t proficient in English, ICA went ahead and approved his PR application. He made his first PR application in 2010 but it was rejected. In 2011, he succeeded, thanks in part to an appeal letter written by Dr Intan.Yang is also arguing that Mdm Chung does not have the mental capacity to change a will. Mdm Chung made a new will in December last year to leave almost all her estimated $40 million fortune to charity. She had removed Yang from the new will altogether. The new will made on 13 Dec, came 3 weeks after the Family Court ruled that Mdm Chung is mentally capable of deciding who should take care of her finances and personal welfare. This also allowed her to terminate a Lasting Power of Attorney (LPA) she granted Yang in 2012 which gave him control over her assets. Last August, the High Court ordered a freeze on Yang’s assets, except for a monthly allowance of $12,000 to be released for his personal and legal expenses. However, Yang’s lawyer told reporters before a pre-trial conference yesterday (13 Jan) that his client has not been able to withdraw money from his bank accounts. “They have not honoured it,” he said. The lawyer has filed a court application on behalf of Yang asking for the freeze to be lifted or for Yang to be allowed to withdraw his $12,000 monthly allowance. Separately, Yang is currently facing 349 charges for the various offences:
The 8 charges under the Companies Act relate to Yang’s failure to provide balance sheets and profit and loss accounts from 2009 to 2013 which give a “true and fair view” of his company. The 3 immigration charges are related to false declarations to enable him to obtain permanent residence in Singapore and his wife a Long Term Visit Pass. He had declared that his company’s turnover in 2009 and 2010 was $75,080 and $135,952, respectively. Mr Yang allegedly made these false declarations to the Immigration and Checkpoints Authority (ICA). Yang has been in remand since 31 October last year. The next court session will take place on Feb 24. Click here to view the whole thread at www.sammyboy.com. 
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