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Yang Yin allegedly transferred $500,000 to father in China

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Chinese national and Singapore permanent resident, Yang Yin, allegedly transferred S$500,000 from the accounts of 87-year old Chung Khin Chun to his father in China.

The accusation came to light yesterday, as Mr Yang was in court for his bail hearing.

Mr Yang was eventually granted bail of S$150,000 by District Judge Eddy Tham, despite the objection of the Deputy Chief Prosecutor (DCP) who argued that Mr Yang posed a flight risk.

DCP Tan Ken Hwee had contended that Mr Yang posed a flight risk because of the potentially severe punishments from the charges which he currently faces.

Mr Yang has been charged with a total of 331 charges for falsifying his company accounts. The charges relate to some S$450,000 worth of receipts which were supposedly paid to his company, Young Music and Dance Studio.

Mr Yang had set up the company in 2009, one year after he had moved into Mdm Chung’s bungalow.

Mdm Chung was a partner in the company.

Mr Yang is reported to have obtained an employment pass and later his permanent residency through this firm.

In court yesterday, DCP Tan had asked that bail for Mr Yang be set at S$800,000.

He also said that since Mr Yang had allegedly transferred S$500,000 to his father, it meant that Mr Yang could post a higher bail.

Mr Yang’s lawyer, however, said that there was no evidence that the money which Mr Yang had allegedly sent to his father still remains.

District Judge Tham dismissed DCP Tan’s arguments and set the bail at S$150,000.

The judge also ordered Mr Yang’s passport to be impounded and for Mr Yang to report to the police every morning at 10am.

Mr Yang will be able to leave Changi Prison, where he is currently held, on Monday at the earliest after his bail is paid.

The Attorney General’s Chambers said that it would be making an application to the High Court with regards to the bail decision. The AGC however did not give details.

Mr Yang is currently also under investigation by the Immigration and Checkpoints Authority (ICA) for possible infringements when he applied for his permanent residency, and is also facing a civil suit from the niece of Mdm Chung who is claiming damages from Mr Yang for breaching his duty to her aunt.

Mdm Chung has since applied to revoke the Lasting Power of Attorney (LPA) which she had given to Mr Yang to oversee her assets, worth some S$40 million.

The Office of Public Guardian is looking into her application.

As for the suspected transfer of the half a million dollars which Mr Yang allegedly made to his father, the authorities are still investigating what this was for.