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How a woman moved $1.2m to relatives to hide cash from ex-spouse
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Fake deals rarely withstand scrutiny because the parties cannot show the initial transfer and deposit of funds to the supposed borrowers.
PHOTO: LIANHE ZAOBAO
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SINGAPORE - Hiding your money from creditors or former spouses by transferring it to relatives might seem a crafty move but a woman in Singapore who ferreted away more than $1.2 million found out the hard way that it’s a fool’s errand.
The woman was determined to prevent her spouse from getting a share of her large stash of savings, so she transferred huge sums to her relatives around a year before the marriage ended.
