BANKRUPT former National Kidney Foundation (NKF) chairman
Richard Yong has been arrested in Hong Kong for fleeing the country
illegally and failing to hand over assets.
The Subordinate Courts had issued a warrant for his arrest, and
Yong was declared a wanted man on June 13.
The charges: Fleeing the country illegally on May 17 and failing to
hand over assets as required by the Bankruptcy Act.
Yong's departure came in the wake of revelations on May 9 that he
had sold three apartments for $7.5 million shortly after losing a
suit the NKF had filed against him, ex-board members Loo Say San
and Matilda Chua, as well as former chief T.T. Durai.
The charity's lawyers on May 11 obtained a Mareva Injunction -
requiring Yong to give details of his assets, and to prevent him
from disposing of them.
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