Ex-NKF chairman fled just before ICA could blacklist him
By Derrick A Paulo, TODAY | Posted: 05 June 2007 1034 hrs
SINGAPORE: It was only a matter of hours, but it was enough for
Richard Yong to slip out of the grasp of the authorities and the
National Kidney Foundation.
The Official Assignees (OA) office, which is responsible for the
affairs of bankrupts, told TODAY it had immediately informed the
Immigration and Checkpoints Authority (ICA) to blacklist Yong on
the morning of May 17, the day after he was declared a
bankrupt.
But the OA learnt the next day that it was too late. The ICA
confirmed that Yong had left Singapore just after midnight, in the
early hours of May 17. Investigations are now underway.
Yong had begun to cash in on his three properties in February, when
he admitted liability for damages in the NKFs civil suit. When he
moved house, he did not report his new address to the
authorities.
When news of these developments surfaced, the bankruptcy
application against Yong was brought forward a month. Filed on
April 27, a copy went to the OA, as did a copy of the May 16 date
for the hearing, and a copy of the courts declaration of
bankruptcy as per the usual process. A Mareva injunction to
freeze Yongs assets was filed on May 9.
The OAs office told TODAY it was first informed by the NKFs
lawyers that Yong had been made a bankrupt and could be a flight
risk on the morning of May 17.
TODAY understands that Yongs two daughters are in the United
Kingdom. He was last seen on May 21 in Kuala Lumpur. We do not
have precise information on Mr Yongs current whereabouts. To date
he remains uncontactable, said the OA spokesman. - TODAY/fa
