Tony Chan
Encyclopedia
Tony Chan Chun-chuen is a Hong Kong businessman and the former Feng shui geomancer
to the late Nina Wang
, the former chairman of Chinachem Group
and Asia's richest woman. He is known for laying claim to her US$4 billion estate
after she died from ovarian cancer
in 2007, claiming to have been her lover. On 2 February 2010, the Hong Kong High Court ruled that Wang's estate belongs to Chinachem Charitable Foundation, not to Tony Chan. Mr Justice Lam said Chan was "untruthful, unreliable and lacking in credibility". He further stated: "I do not find him to be a credible witness and I find in many respects his evidence was tailored to suit his convenience. I do not believe what he testified regarding the provenance of the 2006 will. Apart from my general assessment of his credibility, I also find his evidence incredible." The judge found Wang's signature on the 2006 will relied on by Tony Chan to be "a highly skilled simulation", on the basis of which the Hong Kong Police arrested Tony Chan the next day. He was released on HK$5m (US$640,000) bail. The Inland Revenue of Hong Kong has also issued a demand for HK$300 million in back taxes on income he is alleged to have received from Wang for feng shui services, sums which Chan claims were gifts from his lover.
RCG Holdings Limited , a biometrics
and RFID solution provider partly owned by Wang and Chan, was listed on the Hong Kong Stock Exchange
in February 2009.
Feng shui
Feng shui ' is a Chinese system of geomancy believed to use the laws of both Heaven and Earth to help one improve life by receiving positive qi. The original designation for the discipline is Kan Yu ....
to the late Nina Wang
Nina Wang
Neena Wang or Kung Yu Sum was Asia's richest woman, with a recent estimated net worth of US$4.2 billion at the time of her death...
, the former chairman of Chinachem Group
Chinachem Group
Chinachem Group is a company that was established before 1974 in Hong Kong by Teddy Wang. After Wang's kidnapping and disappearance in 1990, his wife Nina Wang took over the company as "Chairlady" and built it into a major property developer, making her the richest woman in Asia. The Chinachem...
and Asia's richest woman. He is known for laying claim to her US$4 billion estate
Estate (law)
An estate is the net worth of a person at any point in time. It is the sum of a person's assets - legal rights, interests and entitlements to property of any kind - less all liabilities at that time. The issue is of special legal significance on a question of bankruptcy and death of the person...
after she died from ovarian cancer
Ovarian cancer
Ovarian cancer is a cancerous growth arising from the ovary. Symptoms are frequently very subtle early on and may include: bloating, pelvic pain, difficulty eating and frequent urination, and are easily confused with other illnesses....
in 2007, claiming to have been her lover. On 2 February 2010, the Hong Kong High Court ruled that Wang's estate belongs to Chinachem Charitable Foundation, not to Tony Chan. Mr Justice Lam said Chan was "untruthful, unreliable and lacking in credibility". He further stated: "I do not find him to be a credible witness and I find in many respects his evidence was tailored to suit his convenience. I do not believe what he testified regarding the provenance of the 2006 will. Apart from my general assessment of his credibility, I also find his evidence incredible." The judge found Wang's signature on the 2006 will relied on by Tony Chan to be "a highly skilled simulation", on the basis of which the Hong Kong Police arrested Tony Chan the next day. He was released on HK$5m (US$640,000) bail. The Inland Revenue of Hong Kong has also issued a demand for HK$300 million in back taxes on income he is alleged to have received from Wang for feng shui services, sums which Chan claims were gifts from his lover.
RCG Holdings Limited , a biometrics
Biometrics
Biometrics As Jain & Ross point out, "the term biometric authentication is perhaps more appropriate than biometrics since the latter has been historically used in the field of statistics to refer to the analysis of biological data [36]" . consists of methods...
and RFID solution provider partly owned by Wang and Chan, was listed on the Hong Kong Stock Exchange
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
in February 2009.
See others
- Chinachem GroupChinachem GroupChinachem Group is a company that was established before 1974 in Hong Kong by Teddy Wang. After Wang's kidnapping and disappearance in 1990, his wife Nina Wang took over the company as "Chairlady" and built it into a major property developer, making her the richest woman in Asia. The Chinachem...
- Nina WangNina WangNeena Wang or Kung Yu Sum was Asia's richest woman, with a recent estimated net worth of US$4.2 billion at the time of her death...
- Chinachem Charitable Foundation Ltd v. Tony Chan and others. Judgment of Mr Justice Lam, 2 February 2010, Hong Kong High Court