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.


"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
 Nov 28 2015 - Turkey revised military engagement rules in 2012The Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Turkey's rules of engagement were changed long before Tuesday’s downing of Russian aircraft when on June 22 2012Syria shot down an unarmed Turkish ...

 Nov 28 2015 - Turkey- Arrest of Turkish journalists over Syria trucks news sparks outrageThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Domestic and international press institutions and political figures have condemned the Nov. 26 arrest of daily Cumhuriyet editor-in-chief Can Dündar ...

 Nov 28 2015 - In New York a warmer reception for Syrian refugeesThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) In the wake of the terror attacks in Paris politicians and others are calling for a ban — or at least a delay — on the influx of refugees to the ...

 Nov 28 2015 - IS attacks raise odds of closer international cooperationThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) A new wave of Islamic State (IS) group terror attacks has exposed the vulnerability of countries across Europe and the Middle East forcing governments to ...

 Nov 28 2015 - UAE's international sphere inks contract with LiechtensteinMENAFN
(MENAFN) UAE based investment firm signed a business contract with the Liechtenstein Foundation for State Governance.Moreover; global sphere will organize the important approvals from African ...

 Nov 28 2015 - Saudi's National Trans and Despatch Co. gets USD 4.5mn for power projectMENAFN
(MENAFN) National Transmission and Despatch Co. Limited (NTDCL) and United Bank Limited signed a finance facility of USD 4.5mn for building a 270km transmission line.Furthermore; this investment ...

 Nov 28 2015 - Qatar fund plan gives optimism for the blindMENAFN
(MENAFN) Qatar fund plan is giving hope for millions of children suffering from blind issues, the donation worth USD 8mn.Furthermore, the joint "Qatar Creating Vision" plan will fund surgical ...

 Nov 28 2015 - Saudi- Schools to improve science educationArab News
(MENAFN - Arab News) JEDDAH: The Ministry of Education and King Abdulaziz City for Science and Technology (KACST) have signed several agreements to boost science and technology teaching at schools. ...

 Nov 28 2015 - MCI judged best e govt department in GCCArab News
(MENAFN - Arab News) RIYADH: The Ministry of Commerce and Industry (MCI) won the award for providing the Best E-Government Service among Gulf Cooperation Council countries. The award 'Best ...

 Nov 28 2015 - Saudi- Al Qaeda supporter gets 19 yearsArab News
(MENAFN - Arab News) JEDDAH: A special court has sentenced a Syrian national to 19 years in jail for supporting Al-Qaeda and other terror-related activities. The sentence includes three years for ...





Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

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


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


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