Rich Chinese alleges family office staff misused $74 million

An ultra-high net worth Chinese businessman is suing four former staff in Singapore for allegedly misappropriating $74 million (US$56 million), underscoring the vulnerabilities of certain family office structures. Zhong Renhai, the owner of Lee Fung International Pte Ltd (LFI) and family office Panda Enterprise Pte in Singapore, accused four former…