Some guys will stop at nothing to win a girl back.
But for this 56-year-old husband, it’s the opposite.
This man had heard a few days before that his 54-year-old wife was about to file for divorce and instead of trying to fix things, he went to transfer over $3 million worth of shares to his family and friend.
3. Million.
The wife had found out that her husband was cheating and after 21 years of marriage, she decided enough was enough.
The divorce was filed on 20 April 2018.
He tried to pull a “scorched-earth campaign” and wanted to leave his wife little to nothing of his assets to take.
If you didn’t know, a “scorched-earth campaign” refers to a military tactic of destroying property and resources so that the enemy cannot gain anything from occupying the land.
In this case, the property and resources were his shares and money.
Luckily, the court found out and ordered the husband to place back around $3 million of his shares back into the marital pool for division.
Where Did The $3 Million Come From?
Apparently, the man was a businessman and owned a business.
He had transferred 96 per cent of his shareholdings, which at that point in time was worth $3 million, to his elderly parents and a friend.
And since the shares were no longer in his name, he said that his wife should not be able to touch them.
After that, he said that the company had gone downhill and was “defunct” ever since he left in 2018, and that the company was only worth $80,000 then.
But his wife called him out and said that although her husband had left the company, he was still signing cheques and played as the “true director” despite leaving in August 2018.
She even mentioned how the company did pretty well in 2021 and 2022—years after the divorce.
However, a valuation of the man’s shares had placed its worth at around $80,000 in July 2021 as his shifting of shares led to consequences and devalued the company.
But the court noted that the husband had only moved his shares around to keep it out of his wife’s reach and pointed out that if it was transferred back to him, it’d most likely be worth more.
After factoring in other circumstances, the judge ordered the man to place $2.7 million into the marital funds.
It Doesn’t Stop There
Oh, it’s not over yet.
Just two days after he received his divorce papers, he withdrew $510,000 from a CitiBank account.
The account was closed on 28 April 2018.
The man kept avoiding admitting that he knew of the account and only gave in after the wife’s lawyers pressed hard.
The wife even pulled out receipts that the man had two other OCBC accounts with at least $508,000 in total.
The husband also bought a property under the name of their son worth at least $537,000 from an “undisclosed bank account”.
Of course, the court ordered all these amounts to be placed into the marital funds but excluded the amount used to buy a property as it was “for the son’s benefit”.
If you thought that was all, buckle up because there’s more.
Just one day after the wife’s lawyers filed for more information on the husband, he was found to have sold an insurance policy for $34,500.
You know the drill.
The court then ordered him to place the full sum of the policy, which was $60,000, into the matrimonial pool.
Now, you might be wondering how much this man earns since he’s able to just pump out funds to “hide” from his wife.
According to court, the husband earns around $14,000 to $16,000 a month while the wife, on the other hand, has a take-home pay of $4,900.
The final ruling was that the husband would take 60 per cent of his shares back home, around $2.82 million, while the wife would take the rest, around $1.88 million.
But who knows?
Maybe the husband still has a few more millions in hiding.
Featured Image: Miguel Vidal / Shutterstock.com
