Fabulous Heist: A Love, A Luxury Apartment, and a Flip‑flop of Funds
In a tale that sounds more like the plot of a mid‑night drama than a business deal, a Chinese businessman Mr Xu Zhigang swept
Ms Wang Fang
off her iPhone, gifting her a $3 million apartment at The Interlace…and telling her just in case she needed a ride to celebrate, “Choose a Mercedes‑Benz, queen!”
1⃣ The Gift‑Backed Affair
- Mr Xu first met Ms Wang on a flight in 2011.
- Their romance sparked in early 2014—after a month of sipping latte while flying around the globe.
- In December 2013, he handed her a $2.6 million check—just to keep her from feeling the sting of “single life.”
Money Moves
Between July 2014 and February 2015, Mr Xu shuffled a total of US$9.6 million (≈ S$13 million) into Ms Wang’s account, just as his companies in China were tumbling into financial chaos.
2⃣ Legal Showdown: When Love Turns Into Litigation
By November 2017 the affair fizzled, but the drama was far from over. Mr Xu, now the ex‑owner of Eastport Petrochemical, sued Ms Wang for back the money, the apartment, and “that shiny car.”
Mr Xu’s Plea
- He claimed the apartment was just a “friendly present,” registered in Ms Wang’s name for her to manage.
- The car, he insisted, was to help him meet customers, not a gift—though it was again in her name.
- For the two million‑plus sums, he said they were “in safekeeping” to shield assets from future creditors.
Ms Wang’s Counter‑Argument
She said, “I signed the purchase, I felt like a princess on my birthday, and I bought a car because I wanted a Mercedes!” Her side was that all were gifts—no conditions, no post‑affair clauses.
3⃣ Court Verdict: Money vs. Luxury
On Nov 19 2023, High Court judge Justice Audrey Lim made a split decision:
- Mr Xu recaptured about US$9.4 million from Ms Wang—about 98 % of the original sums.
- The apartment and the car were ruled “gift”—no reimbursement.
Judge Lim accepted Mr Xu’s explanation that the US$2.6 million was part of a safety‑net plan for being in “risk‑laden China,” but she found Ms Wang’s “birthday‑present” story credible because the surrounding context screamed drama—gone‑in‑a‑day favour, car showroom visits, and Janurary road‑trip to car showroom it was impossible to deny.
4⃣ Aftermath: The Real‑Life Fallout
Even though money got back to Mr Xu, the apartment and the car remain in Ms Wang’s name—key proof that even lavish gifts can wear their own price tag. Mr Xu, who was a major shareholder at Eastport Petrochemical but is no longer, now watches the story unfold from a different angle—once a court’s throne, now a reality tok‑target.
ℹ Quick Take‑aways
- Love can be wildly expensive (and sometimes unpayable).
- Legal systems can split what’s in love and what’s in business.
- Good draft clauses matter; otherwise, you’re talking to the court and your ex‑mistress.
So there you have it. A “romantic” jungle where business percentages and personal heartbeats collide—and the verdict is as keen as a dissecting scalpel. No judgment is left for the court, just the ticking of the reason behind a Chinese‑broke‑and‑kept‑micromoney‑trading plan. And just like that…the court served a verdict, and love, like a bank, had to bank on trust.
