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SINGAPORE – After his father’s death in 1974, Mr Neo Aik Soo became the de facto head of the family even though he was the second oldest among 12 siblings.
He provided his siblings with money whenever they needed it from his earnings as a broker, substantial lottery winnings and astute property investments.
One such investment was a shophouse in Keong Saik Road that was bought in 1991 at $370,000 and sold in 2017 at around $8.1 million.
But he and two of his siblings had a falling out over the transaction, with the three siblings – who are all in their 70s – going to court over the ownership of the property.
According to Mr Neo, he had purchased the shophouse with his own money, and was therefore the beneficial owner of the property and entitled to its sale proceeds.
Mr Neo’s older brother, Mr Neo Aik Siong, and younger sister, Ms Neo Geek Kuan, claimed that the shophouse had been purchased by the older Mr Neo with family funds.
They also claimed that Ms Neo – whose name the shophouse was registered in – was pressured into signing documents authorising the younger Mr Neo to sell the shophouse.
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