Singapore: Multi-millionaire tricked into giving away entire S$54m property to wife; Judge sets foot down

Singapore: Multi-millionaire tricked into giving away entire S$54m property to wife; Judge sets foot down

Ibtimes·2017-12-18 17:50

A multi-millionaire in Singapore had a narrow escape from losing all his fortune. His wife had made him sign a legal document which gave away his entire property to their firstborn child, to be jointly held in trust by them. The judge ruled that the wife was vying for her husband's money as they are currently in the process of getting divorced.

The man, an oil and gas trader by profession, had substantial monetary resources of his father even before he started working. His wife, a former lawyer, had lied that the deed was meant to secure the future of their child in case something happened to the father.

The deed was signed in March 2014 after the man's mother had been killed at home and the wife found out that the man and his sister had been jointly appointed executors and trustees of the deceased's S$54 million assets, including property in Holland Road and Bukit Timah. Additionally, the man has two apartments in the Marina Bay Sands area, reported Today Online.

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