He claims the money was a gift from Mdm Chung Khin Chun in December 2010.
Yang Yin had filed papers in court stating that he was merely holding on to the money for Mdm Chung.
He explain that he was doing this now and not earlier because he was “not proficient in English.”
Yang’s statement is pretty far-fetched, considering he knows enough English to liase with Dr Intan, his MP, whom he used to serve under as a a grassroots member in the neighborhood committee of Jalan Kayu in Ang Mo Kio GRC.
He was also an “Integration and Naturalization Champion”, helping foreigners and Singaporeans integrate with one another.
It’s also questionable if the ICA would approve his PR application if he wasn’t proficient in English.
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.
Yang is currently facing 349 charges for the various offences:
331 charges related to the falsification of his company’s accounts
3 charges for immigration offences
5 charges for cheating (presenting fake receipts to his accountant)
8 charges for offences under the Companies Act
2 charges for criminal breach of trust (CBT).
Yang has been in remand since 31 October last year. The next court session will take place on Feb 24.