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Old 08-06-2007, 12:18 AM   #1 (permalink)
fuyumi
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Default NKF files police report against Richard Yong



THE National Kidney Foundation (NKF) has filed a police report against its ex-chairman Richard Yong, alleging that his moves to sell off several properties were aimed at avoiding payment of the estimated $11 million judgement against him.

The report, lodged last month, suggested that he cheated and dishonestly disposed of property in contravention of Section 138 of the Bankruptcy Act.

NKF's move, it would appear, kickstarts a new criminal investigation against him. He was convicted on May 16 of failing in his duties as the charity's director, for which he paid a $5,000 fine.

The case against the management team of the old NKF which he led had otherwise mostly played out in the civil arena.

Court records show Yong sold off his three flats in Bencoolen Street, Cuscaden Road and Peck Hay Road for some $7.45 million in March and April.

The 65-year-old was declared bankrupt on May 16.

When he left Singapore via the Woodlands Causeway just after midnight the following day, he left little behind: $389 in two bank accounts and some $260,000 tied up in household items in two flats and a Mercedes Benz S350.

The items - including furniture, computer items and hi-fi equipment - were seized from his rented residence at Cavenagh Gardens and his Peck Hay Road flat on May 11.

The seizure followed a writ obtained from the High Court by lawyers acting for ex-NKF director Chow Kok Fong.

On Thursday, a representative from the Society for the Prevention of Cruelty to Animals (SPCA) showed up to pick up his pet dog, which had been left in the Cavanagh Gardens flat in the care of a Filipina maid.


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