Man who hid wealth from ex-wife ordered to add $10m to assets to be split in divorce
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SINGAPORE - A judge ordered a man to include about $10 million of his wealth to the matrimonial pool of assets to be divided in his divorce, to signal the court's «utter contempt» at how the man tried to hide his wealth from his former wife. JudiMan who hid wealth from ex-wife ordered to add $10m to assets to be split in divorce
SINGAPORE - A judge ordered a man to include about $10 million of his wealth to the matrimonial pool of assets to be divided in his divorce, to signal the court's «utter contempt» at how the man tried to hide his wealth from his former wife. Judicial Commissioner Mohamed Faizal Mohamed Abdul Kadir said the man's actions were among the most brazen attempts to conceal one's assets in divorce cases the courts have seen. «It represents a fraud not just on the court, but on all of the parties involved in the litigation and the wider justice system,» he said in a judgment released on Jan 9. He also awarded the man's former wife 69 per cent of the matrimonial assets of about $10.2 million - which was more than the 50 per cent she had asked for. Before the sum of about $10 million was added, the couple's matrimonial assets amounted to only slightly over $100,000. In the end, the woman was awarded about $7 million of the assets, leaving the man with about $3.1 million. Read more
