Yang yin saga: Wealthy widow to sell her bungalow as she has no money left

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An honorable member of the Coffee Shop Has Just Posted the Following:

YANG YIN SAGA: WEALTHY WIDOW TO SELL HER BUNGALOW AS SHE HAS NO MONEY LEFT

Post date:
25 Jan 2015 - 2:19pm








Madam Chung Khin Chun, the wealthy widow embroiled in the controversy over her $40 million assets which were allegedly taken advantage of by PRC Tour Guide Yang Yin, may have to sell her bungalow to fund her daily expenses.

The bungalow at Gerald Crescent has been Mdm Chung’s home for over 50 years after she and her late husband bought it together in 1961.

However, her home will have to be sold as Mdm Chung has only $8,500 left in her bank account and she no longer has money to pay for her daily expenses which includes the hiring of two maids and a driver. Back in January 2010, there was over $1 million in the account.

The bungalow is estimated to be worth about $30 million but it requires about half a million in repairs as it has not been well maintained over the last few years.

For the past 5 years or so, PRC tour guide Yang Yin, his wife and two young children have been living in the home with Mdm Chung and it has since become dirty, with broken furniture and doodles drawn on the walls with marker.

The roof tiles have also not been maintained resulting in water leaking in and causing damage to the ceiling and walls.







The current plan is for Mdm Chung to sell her bungalow, buy a smaller $5 million home so that she will have enough money for her daily expenses and will still have enough left over to give money to charity.

At the moment, Mdm Chung is living with her neice, Mdm Mok who has been appointed Mdm Chung’s guardian by the courts.

The bungalow is home to a maid and Mdm Chung’s dog now as Yang’s family went back to China and Yang is still being remanded.

Yang is accused of having manipulated Mdm Chung and taking control of her assets after she was diagnosed with dementia and selling her priceless artwork, jewellery and more online to fund his extravagant lifestyle.

Yang has been charged with misappropriating $1.1 million of Mdm Chung’s money as well as over 300 other charges related to falsification of accounts for his business.
Yang claimed that the $1 million in his bank account was a gift to him from Mdm Chung but the widow said that such a suggestion as ridiculous as she would never gift someone $1 million.


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