FORMER National Kidney Foundation chairman Richard Yong will plead guilty on Friday to three criminal charges - closing a saga that began when he and his wife skipped town hours after he was declared a bankrupt.

The 66-year-old former banker made the decision after he accepted the prosecution's offer to proceed with three charges against him and withdraw two.

The remaining five charges will be taken into consideration when the district judge decides on his punishment.

Each charge carries a maximum punishment of up to one and three years in jail.

No mention was made, however, of which charges would be proceeded on and which, dropped or taken into consideration.

The Straits Times understands Yong will plead guilty to an offence under the Penal Code and two under the Bankruptcy Act.

The more serious charges are the ones under the Bankruptcy Act.

If convicted of being less than forthcoming with the Official Assignee where his assets are concerned about his assets, he could be jailed up to three years.

He is accused of failing to deliver his assets and the documents related to them to the OA - an officer of the court who administers the affairs of bankrupts.

For leaving Singapore without permission, he could be jailed for two years.

Lawyers say Yong, who has been remanded for over a month since he was arrested in Hong Kong, is quite likely to face consecutive jail terms.

Under the law, If a person is convicted of at least three distinct offences, the court will order at least two sentences to run consecutively.

Yong's lawyer, Mr Jeffrey Beh, said his client was holding up well in remand.

"Nobody gets used to prison life and he is no different. He appears well and has received treatment for his depression."

Yong and his wife, On Shu Kio, 63, fled Singapore in May this year shortly after he was declared a bankrupt, amid questions surrounding his assets - notably the $7.5 million sale of three apartments.

The pair were arrested by Hong Kong police on July 4. He was extradited on Aug 3 and has been in remand since.

His wife, who is still in Hong Kong, faces a money-laundering charge for allegedly helping her husband transfer almost $4 million to an account with the ING Bank in Britain - a sum which has been described as "proceeds from a criminal offence".

She will appear in a Hong Kong court on Oct 12 and remains on bail of HK$ 100,000 (S$19,570).