Saturday, February 24, 2024

Latest Vietnam news, business, sports, life, travel reviews

Chinese woman’s ex-husband hid millions from divorce payout

A Shanghai woman has discovered her ex-husband was a secret millionaire who hid 100 million yuan (around $14 million) for 20 years to avoid losing it to a divorce settlement.

Chinese woman’s ex-husband hid millions from divorce payout

The Chinese woman, identified by the pseudonym Yu Hong, said she was shocked after being informed by the court that her ex-husband owned 18 commercial properties and was secretly a millionaire, according to the South China Morning Post.

During the 20 years of marriage, she worked as a full-time housewife, while her ex-husband, surname Qin, ran a successful business.

The court initially turned down her divorce application. When Yu applied for a divorce the second time six months after her first application, this time citing her ex-husband’s secret, the court granted the separation.

During their divorce process, Qin was found to have given his assets to a daughter from a previous marriage, in order to conceal them from Yu. In court, Qin said the reason he did so was because Yu hadn’t contributed anything to earning his wealth.

“I built my wealth. She is just a housewife who didn’t work,” Qin said.

Responding to this argument, the court ruled that Qin’s giving of his properties to his daughter was an illicit act and ordered the woman to return the assets to Qin so the would then be then shared with Yu because her legal right to a share of the joint assets [with her husband] was protected regardless of whether she had paid employment during the marriage.

- Advertisement -

Also worth reading

Related

Explore more

Singer Dam Vinh Hung hospitalized following stage fall in US

Singer Dam Vinh Hung was hospitalized following a fall on stage during a performance in Orange County, California, resulting in several stitches to his right foot.
- Advertisement -