<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Dec 8, 2008
</TR><!-- headline one : start --><TR>Wife of ex-NKF chair guilty <!--10 min-->
</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Selina Lum
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On Shu Kio (far left), wife of Richard Yong, the former chairman of the National Kidney Foundation, admitted dealing in money which she knew was from the proceeds of a criminal offence. -- PHOTO: ZAOBAO
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<!-- START OF : div id="storytext"-->HONG KONG - THE wife of former NKF chairman Richard Yong pleaded guilty here on Monday to a charge of money laundering, more than a year after she and her husband were arrested in the territory.
On Shu Kio, who had been out on bail since her indictment on Aug 31 last year, was remanded in custody following her conviction. Sentencing was adjourned to next Tuesday.
The 66-year-old faces up to 14 years in jail and a fine of up to HK$5 million (S$1 million).
The couple had left Singapore, 12 minutes apart in separate cars, in May last year shortly after he was declared bankrupt.
The bankruptcy proceedings were brought by NKF after he failed to pay damages and legal costs arising from the charity's civil suit against its former board members and chief executive.
Yong and On were arrested in Hong Kong in July last year.
Yong was extradited to Singapore and jailed 15 months for conspiring with On to fraudulently transfer property to avoid paying NKF and for failing to disclose assets under the Bankruptcy Act.
On Monday, Hong Kong's District Court heard that On had opened two accounts during a one-week trip to Hong Kong in March last year.
On admitted she had transferred 1.28 million Sterling pounds (S$2.9 million) to her newly opened ING bank account in the territory.
However, she pleaded not guilty to another charge of transferring HK$1.24 million to a HSBC account.
The prosecution applied to have this second charge 'put on court file' - On will not be sentenced on this charge; neither would it be taken into consideration during sentencing.
On, who was accompanied to court by two female friends, appeared grim in the dock.
Her lawyer requested for time to prepare his mitigation plea, saying that 'there's a lot of background material that the court needs to know about'. Judge Andrew Chan agreed to adjourn the case but denied On's request to be granted bail.
</TR><!-- headline one : start --><TR>Wife of ex-NKF chair guilty <!--10 min-->
</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Selina Lum
</TD></TR><!-- show image if available --><TR vAlign=bottom><TD width=330>
</TD><TD width=10>
On Shu Kio (far left), wife of Richard Yong, the former chairman of the National Kidney Foundation, admitted dealing in money which she knew was from the proceeds of a criminal offence. -- PHOTO: ZAOBAO
</TD></TR></TBODY></TABLE>
<!-- START OF : div id="storytext"-->HONG KONG - THE wife of former NKF chairman Richard Yong pleaded guilty here on Monday to a charge of money laundering, more than a year after she and her husband were arrested in the territory.
On Shu Kio, who had been out on bail since her indictment on Aug 31 last year, was remanded in custody following her conviction. Sentencing was adjourned to next Tuesday.
The 66-year-old faces up to 14 years in jail and a fine of up to HK$5 million (S$1 million).
The couple had left Singapore, 12 minutes apart in separate cars, in May last year shortly after he was declared bankrupt.
The bankruptcy proceedings were brought by NKF after he failed to pay damages and legal costs arising from the charity's civil suit against its former board members and chief executive.
Yong and On were arrested in Hong Kong in July last year.
Yong was extradited to Singapore and jailed 15 months for conspiring with On to fraudulently transfer property to avoid paying NKF and for failing to disclose assets under the Bankruptcy Act.
On Monday, Hong Kong's District Court heard that On had opened two accounts during a one-week trip to Hong Kong in March last year.
On admitted she had transferred 1.28 million Sterling pounds (S$2.9 million) to her newly opened ING bank account in the territory.
However, she pleaded not guilty to another charge of transferring HK$1.24 million to a HSBC account.
The prosecution applied to have this second charge 'put on court file' - On will not be sentenced on this charge; neither would it be taken into consideration during sentencing.
On, who was accompanied to court by two female friends, appeared grim in the dock.
Her lawyer requested for time to prepare his mitigation plea, saying that 'there's a lot of background material that the court needs to know about'. Judge Andrew Chan agreed to adjourn the case but denied On's request to be granted bail.
