SINGAPORE - The rich widow who is embroiled in a legal tussle over her $40 million assets with a former tour guide from China may no longer be able to afford to hang on to her Gerald Crescent Bungalow.
The Straits Times reported that her niece, Madam Hedy Mok, told the Office of the Public Guardian Madam Chung Khin Chun, 87, has less than $10,000 left in the bank, which is insufficient to cover her estimated monthly expenses of $9,600 to maintain the bungalow, which is believed to be worth $30 million.
Madam Chung had bought the bungalow, which is located near Yio Chu Kang road, in 1961.
In the last few years, however, it has fallen into some disrepair, and would require about $500,000 to fix up, according to The Sunday Times.
Madam Chung is at the centre of a legal tussle with former China tour guide Yang Yin. Madam Chung's niece, Madam Hedy Mok, alleges that Mr Yang manipulated the wealthy widow into handing him control of her assets, estimated to be worth $40 million.
Madam Chung had first met Mr Yang on a trip to China in 2008. In 2010, the widow made a will leaving him all her assets, including the bungalow. She also granted him a Lasting Power of Attorney (LPA) in 2012.
It was previously reported that Madam Mok evicted Mr Yang, his wife and two young children from the bungalow in September last year. He also no longer has control over the widow's assets after the courts allowed Madam Chung to revoke the 2012 LPA.
Madam Chung also made a new will that leaves nearly all her fortune to charity, cancelling the previous will from 2010.
However, it was reported earlier this month that Mr Yang said that the $1.13 million that he has in his OCBC bank accounts were a gift from Madam Chung.
Madam Mok is suing Mr Yang for damages on behalf of her aunt. He also faces more than 300 charges for falsification of accounts and immigration offences.