Several family members of former OCBC relationship manager Tan Wei Chong alias Lex Tan and one other individual implicated when he cheated the bank of $4.83 million succeeded yesterday in getting their assets unfrozen. In a surprise move yesterday, OCBC backed off from challenging an order by High Court Justice Woo Bih Li to unfreeze their assets. “We don’t think the Mareva should have been taken out in the first place, so this follows that Justice Woo’s decision to set aside the injunction is correct,” said Lawrence Tan of Eldan Law LLP, which represents the parents and wife of Lex Tan’s brother-in-law, Lee Liang Loon.
Read the report in The Business Times Weekend, 21 – 22 Apr 2012, page 5.