Peter Chan (businessman) explained

Peter Chan Chun-chuen
陳振聰
Birth Date:1959 12, df=y
Parents:Patrick Chan Yu-nam (陳汝楠)
Spouse:Tam Miu-ching (譚妙清)
Alma Mater:Colégio Mateus Ricci

Peter Chan Chun-chuen (born 23 December 1959), earlier known as Tony Chan, is a Hong Kong businessman and the former Feng shui geomancer to the late Nina Wang, who at the time of her death was chair of Chinachem Group and Asia's richest woman.[1] [2] [3] He laid claim to Wang's HK$83 billion estate after she died from ovarian cancer in 2007, claiming to have been her lover.[4]

Personal life and business activities

Chan was born in Hong Kong with family roots in Xinhui, Guangdong.[5] He is a partial owner, along with Wang's estate, of RCG Holdings Limited (HKEX:), a biometrics and RFID solution provider which was listed on the Hong Kong Stock Exchange in February 2009.[6] [7] He is married to Tam Miu-chung; their first child, Wealthee Chan, was born in 1993.[8] In March 2013, Tony Chan was baptised as a Christian and took the name Peter Chan on the occasion of his conversion. He stated that he began considering conversion when his driver quit in 2012 and gave him a Bible as a parting gift. He also indicated that he would no longer practise feng shui after his conversion.[9]

Estate battle

After Nina Wang's death in 2007, Chan presented a 2006 document purporting to be her last will and testament, which left all of her assets to him. This would have been a complete reversal of Wang's earlier 2002 will, in which she stated that she wished to bequeath her fortune to Chinachem Charitable Foundation, a trust run by her family. On 2 February 2010, the Hong Kong High Court ruled that Wang's estate belonged to the Foundation and not to Chan.[10]

Justice Johnson 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."[11]

The judge found Wang's signature on the 2006 will relied on by Tony Chan to be "a highly skilled simulation",[12] on the basis of which the Hong Kong Police arrested Tony Chan the next day.[13]

He was released on HK$5 million (US$640,000) bail.[14] Hong Kong's Inland Revenue Department 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.[15]

Criminal case

On 4 July 2013, Chan was convicted of two criminal fraud charges in a jury trial. He was convicted of forging the will and of using a false document by majority verdicts. He was sentenced to 12 years in prison. He filed for leave to appeal against his conviction the following week.[4]

External links

Notes and References

  1. News: Nina Wang's fortune-teller lays claim to her estate. Channel NewsAsia. 20 April 2007. 18 March 2012.
  2. News: Spencer. Richard. £2bn fortune-teller vanishes over battle of wills. https://web.archive.org/web/20090302181207/http://www.telegraph.co.uk/news/worldnews/1549269/andpound2bn-fortune-teller-vanishes-over-battle-of-wills.html. dead. 2 March 2009. The Daily Telegraph. UK. 21 April 2007. 18 March 2012.
  3. News: Tony Chan Chun-chuen Foresees Nina Wangs's Fortune. https://web.archive.org/web/20101120001013/http://www.theinsider.com/news/138673_Tony_Chan_Chun_chuen_Foresees_Nina_Wangs_s_Fortune. 20 November 2010 . The Insider. 20 April 2007. 2 August 2013.
  4. News: Jailed fung shui master Peter Chan to appeal conviction. Austin. Chiu. South China Morning Post. 11 July 2013. 2 August 2013.
  5. Web site: 坐擁千億身家的亞洲女首富龔如心，○七年四月三日不敵卵巢癌與世長辭，終年七十歲。. 2021-03-16.
  6. Web site: RCG Holdings Limited. https://archive.today/20130124135548/http://finance.google.com/finance?q=LON:RCG. dead. 24 January 2013. Google Finance. 14 January 2012. 18 March 2012.
  7. News: EUROPE-RCG Holdings up on bullish update. Reuters. 3 February 2009. 18 March 2012.
  8. News: Change my name, pleads poor Wealthee. The Standard. 26 June 2009. 8 March 2013. https://archive.today/20130412222928/http://www.thestandard.com.hk/news_detail.asp?pp_cat=21&art_id=84054&sid=24360181&con_type=1&d_str=20090626&sear_year=2009. 12 April 2013. dead.
  9. News: Tony Chan embraces Christianity, rejects fung shui and is now Peter. Tony. Cheung. South China Morning Post. 7 March 2013. 7 March 2013.
  10. News: Feng shui master denied Nina Wang fortune in Hong Kong. BBC News. 2 February 2010. 18 March 2012.
  11. News: Wong. Adele. 3 February 2010. A liar prepared to say anything. The Standard. 2 August 2013. https://web.archive.org/web/20121009204430/http://www.thestandard.com.hk/news_detail.asp?pp_cat=30&art_id=94046&sid=26926596&con_type=1&d_str=20100203&sear_year=2010. 9 October 2012. dead.
  12. Chinachem Charitable Foundation Ltd v. Tony Chan and others. HCAP. 8. 2007. 69592.
  13. Web site: Cops grab Chan. The Standard. Hong Kong. 18 March 2012. https://web.archive.org/web/20121011120119/http://www.thestandard.com.hk/news_detail.asp?pp_cat=30&art_id=94102&sid=26944681&con_type=3. 11 October 2012. dead.
  14. News: Tony Chan released on HK$5m bail. The Standard. 18 March 2012. https://web.archive.org/web/20121009145207/http://www.thestandard.com.hk/breaking_news_detail.asp?id=17566&icid=1&d_str=. 9 October 2012. dead.
  15. News: Moy, Patsy. 3 February 2010. Cops eye 'Liar' Chan ... as taxman set to chase him for $300m. The Standard. 2 August 2013. https://web.archive.org/web/20121009204440/http://www.thestandard.com.hk/news_detail.asp?pp_cat=30&art_id=94045&sid=26928394&con_type=1&d_str=20100203&sear_year=2010. 9 October 2012. dead.

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