Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

HK billionaire's lover gets 12 yrs jail  Join our daily free Newsletter

MENAFN - Arab Times - 06/07/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) The former lover and fortune teller of quirky billionaire Nina Wang was sentenced Friday to 12 years in prison after a Hong Kong court found him guilty of forging a will to claim her multibillion-dollar estate.

High Court Justice Andrew Macrae said Peter Chan's attempt to pass himself off as the beneficiary of Nina Wang's fortune, estimated by prosecutors at 83 billion Hong Kong dollars (10.7 billion), was "shameless, wicked and born of unparalleled greed." Wang, once Asia's richest woman, died in 2007 at age 69 after battling cancer. Hong Kong police charged Chan after a 2011 court ruling that a will purportedly leaving Wang's Chinachem Group to him was forged.

The legal battles over the will have enthralled the Chinese territory with their seamy mix of sex, big money and fraud allegations. Hong Kongers were riveted by juicy revelations of Chan's affair with Wang, who was two decades older than him. She was nicknamed "Little Sweetie" for her girlish outfits and pigtail hairdo.
Chan, a 53-year-old father of three, was convicted Thursday of forgery and using a false instrument. The judge sentenced him to 12 years on each count, to be served concurrently.

Chan is a former feng shui master who changed his name from Tony after converting recently to Christianity. In an attempt to prove that Wang and Chan's relationship was genuine, Chan's defense team showed videos in court last month of the pair kissing and caressing, according to media reports.
The judge said Chan was not content with the HK3 billion (387 million) that Wang had given to him while she was alive and decided to claim her business empire and estate as well.

Pained

"I have no doubt you are nothing more than a clever and no doubt beguiling charlatan," Macrae said in sentencing Chan, who rocked back and forth with a pained expression while his wife wept quietly in the public gallery. Macrae said Chan's forgery was especially egregious because had he succeeded, it would have prevented the estate from going as intended to a charitable foundation Wang and hr late husband founded and cost it millions in legal fees. "Instead of benefiting mankind as Nina Wang wanted, the only one to benefit would have been you," the judge said.


In the earlier court ruling, a judge upheld another will bestowing the fortune on Wang's Chinachem Charitable Foundation. Wang inherited developer Chinachem after her husband was kidnapped in 1990. He was never found despite a 33 million ransom his family paid. She built the company into a huge property developer, with office towers and apartment complexes throughout Hong Kong.

The pair met in 1992 when Wang sought out a feng shui master to find her husband. Chan was already married and had a patchy resume as a waiter, bartender, machinery salesman and market researcher, making him an unlikely match for Wang.

The judge also ordered Chan to repay the estimated HK2 million (258,000) cost of a preliminary hearing that he said was a waste of time and money. Chan's lawyer declined to say whether he would appeal. Chan managed to get 30 million sterling from Wang when she was sick and fragile in the last two days of her life, the judge said, calling his behaviour "shameless" and "wicked". Hong Kong police investigators hailed the result.

"This shows that no matter how long we take, the Hong Kong judicial system will ensure that any culprit will be subject to the great hand of justice," Ho Pak-ling, an official of the Commercial Crime Bureau, told reporters outside the court. The sentence is the latest setback for Chan, who was ordered in March to pay HK340 million (43.8 million) in tax arrears, and has been hit by the long, costly legal battle for Wang's estate that he lost in 2011.

Chan, a former bartender and feng shui master, who once lived in a cramped public housing flat, changed his name from Tony after that ruling and converted to Christianity this year. In 2011, the High Court upheld a previous judgement that a 2006 will leaving Wang's entire estate to Chan was a forgery, and upheld an earlier will bequeathing her fortune to a charitable foundation run by her family.

 


Arab Times




  MENA News Headlines
 May 27 2016 - Qatar- Five key clashes in the Champions League finalThe Peninsula
(MENAFN - The Peninsula) The 2016 UEFA Champions League Final logo at the Piazza Duomo in Milan, Italy, on 26 May 2016. EPA/DANIEL DAL ZENNARO Madrid:Real Madrid face local rivals Atletico Madrid ...

 May 27 2016 - Qatar- Al Shaqab students graduate at a glittering ceremonyThe Peninsula
(MENAFN - The Peninsula) Students who received equestrian training at Al Shaqab, pose for a photograph with special guests during their graduation ceremony after receiving their certificates ...

 May 27 2016 - Qatar- Four international players to continue with Al RayyanThe Peninsula
(MENAFN - The Peninsula) Ali Salem Afifa, Head of Football at Al Rayyan Doha: Following a successful local football season, Al Rayyan have secured the services of their four foreign players ...

 May 27 2016 - UAE plays vital role in development projects in JordanMENAFN
(MENAFN) Abu Dhabi Fund for Development (ADFD) and Jordan worked together towards achieving their sustainable development goals, supporting projects in fundamental sectors.Moreover, ADFD has funded ...

 May 27 2016 - Cairo USD 3.6bn residential project attracts foreign investmentMENAFN
(MENAFN) The Ministry of housing introduced Egypt's biggest upcoming project, USD 3.6bn Mountain View iCity, which will be launched in New Cairo.Furthermore, the project's main layout will encompass ...

 May 27 2016 - Qatar, Luxembourg trade relations growMENAFN
(MENAFN) Qatar and Luxembourg have viewed growth due to the exchange of official visits between the two sides and the signing of mutual deal on many areas.Moreover, Qatar sees innovation as a main ...

 May 26 2016 - Saudi- Living cost index in the Kingdom rises 0.2% in AprilSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Sha'ban 19, 1437, May 26, 2016, SPA -- The index of the cost of living in the Kingdom rose by 0.2% during the month of April 2016 compared to the previous month ...

 May 26 2016 - Governor of Riyadh Region receives Cyprus' AmbassadorSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, Sha'ban 19, 1437, May 26, 2016, SPA -- Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh region, received here today the Ambassador of Cyprus to the ...

 May 26 2016 - Israeli warplanes launch raids on Gaza StripSaudi Press Agency
(MENAFN - Saudi Press Agency) Ramallah, 19 Sha'ban, 1437, May 26, 2016, SPA -- Israeli warplanes launched today a series of air raids on sites and targets in the Gaza Strip. Local security sources ...

 May 26 2016 - Saudi- Three dead, many injured in Mumbai chemical factory blastSaudi Press Agency
(MENAFN - Saudi Press Agency) New Delhi, Sha'ban 19, 1437, May 26, 2016, SPA -- At least three people have died and several have been injured in a huge blast at a chemical factory on the outskirts ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help