73-year-old woman’s daughter allegedly empties joint account, leaving mother with a mere S$200 of S$130,000

SINGAPORE: In a shocking incident that has left a 73-year-old woman devastated, her daughter allegedly drained a joint bank account, resulting in the loss of a staggering S$130,000 of her hard-earned savings.

Distressed and concerned, the elderly woman reported the incident to the police seeking help. However, the case has hit a legal roadblock due to the account’s joint ownership.

The woman, Mrs Chen, recently shared her painful ordeal with reporters from Chinese media outlet Shin Min Daily News.

She recalled that in May 2021, she and her daughter had opened three joint accounts where they deposited a total of S$180,000.

“These funds are the result of my and my husband’s lifelong hard work. Initially, the money was in our joint account, and later it was transferred to these three individual accounts, ” Mrs Chen said.

To Mrs Chen’s surprise, on 26 June this year, she received her bank statement and found that one of the accounts, which previously had S$85,007, was now reduced to a mere S$180.

This raised suspicion, leading her to check the other two accounts, only to discover that one account, with S$19,999, was entirely emptied, while the third account’s balance decreased from S$76,174 to S$61.

After making withdrawals of about S$50,000, she expected to have around S$130,000 left. However, there were only slightly over S$200 left in her accounts.

After an investigation, Mrs Chen discovered that all the money in the account had been transferred by her youngest daughter.

Police advise seeking legal help

Mrs Chen reported the matter to the police, but they couldn’t take any action as it was a joint account.

“They advised us to seek legal help, but hiring a lawyer would cost a lot of money.”

Regarding the reason for opening the joint accounts, Mrs Chen admitted she couldn’t recall the exact purpose.

However, she revealed that her daughter and her husband had married in March this year and had established a frozen seafood company in 2021, potentially hinting at financial challenges within the business.

“Since I applied for a transfer from the bank (to the joint account), she started transferring money to the company’s employees, suppliers, and even directly to her husband. My eldest daughter diligently recorded all these transactions.”

“Moreover, she even used my money to pay for her registration fees for this year’s marriage, ” Mrs Chen claimed.

When confronted, the daughter allegedly admitted to using the money and promised to repay it gradually. However, the elderly woman remained skeptical about the prospects of getting her savings back.

Over the course of two years, Mrs Chen’s daughter allegedly had taken away her mother’s savings of S$130,000 from the joint accounts.

Mrs Chen also disclosed that her daughter and son-in-law were currently renovating their house, making it difficult to contact them as they were residing in Johor Bahru, Malaysia.

Multiple attempts by Shin Min reporters to reach Mrs Chen’s daughter went unanswered, they also tried contacting her son-in-law, who tersely responded, “Don’t write nonsense.”

Father’s health deteriorated

Meanwhile, Mrs Chen’s elder daughter, Ms Zhuo, 43, working as a clerk, spoke out about the distress caused to her parents.

She revealed that her father’s health had deteriorated, rendering him bedridden and further exacerbating the family’s plight.

They believed that betrayal by their younger sister has caused a significant rift, with the younger sibling now avoiding communication with their mother.

Ms Zhuo claimed that her sister’s behavior took a negative turn after she started dating her husband in 2021.

“When he started dating my sister, he hadn’t finalized his divorce yet. Later, he never visited my parents, so we didn’t know much about him and didn’t have a good impression of him.”

Different twist: Taiwanese daughter’s trust misplaced as only $1,600 remains of her 12-year savings

In a contrasting tale from Taiwan, a Taiwanese woman displayed unwavering trust in her mother by handing over almost all her salary for 12 years, hoping to save NT$2.66 million (US$90,000).

However, her belief was shattered when she recently discovered a mere NT$50,000 ($1,600) left in her account, leaving her deeply wounded.

Taking to social media, the woman shared her distressing ordeal, highlighting the heartache caused by the betrayal of trust.

Handing over nearly all her monthly pay of NT$24,000 (US$770) to her mother, she kept only NT$4,500 for basic living expenses.

Despite her dedication, the woman’s mother failed to support her when she asked for money, causing her to hesitate to seek help even during desperate times.

Upon realizing that her supposed savings had been depleted, she chose not to confront her mother about the missing funds, and now manages her finances independently, fearing the weight of numerous responsibilities.