Former National Kidney Foundation (NKF) chairman Richard Yong was convicted of three criminal charges in court on Thursday.

The 66-year-old former banker pleaded guilty to two charges under the Bankruptcy Act and another charge of fraudulently transferring his bank accounts to his wife On Shu Kio, 63.

Looking wane and a former shadow of his old self, Yong admitted that he had been less than forthcoming with the Official Assignee over his bank accounts and had failed to inform the authorities of the transfer of his American Club membership to his wife.

Yong, who wore a white t-shirt and brown pants in court today, was supposed to plead guilty on Sept 7 to the criminal charges arising from his flight from Singapore with his wife in May but the case was adjourned to today.

The court was told that he fraudulently transferred close to $4 million from his bank accounts to his wife.

For the two charges under the Bankruptcy Act, he could be jailed up to three years, and for the fraudulent transfer of funds, he faces up to two years jail.

Lawyers say Yong is quite likely to face consecutive jail terms. If a person is convicted of at least three distinct offences, the court will order at least two sentences to run consecutively.

In mitigation, his lawyer, Mr Jeffrey Beh, said Yong was remorseful for the oversight in informing the Official Assignee, an officer of the court who administers the affairs of bankrupts, about his assets,

Deputy Public Prosecutor Francis Ng, describing Yong's actions as a "flagrant disregard" for the bankruptcy regime, urged the court to jail him to send a strong signal to the public not to circumvent the law.

Yong and his wife fled Singapore 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 Yong 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".