Kane from Bling Empire’s extended family had $3.5 billion in assets frozen
Kane Lim‘s “drama from Singapore” that he mentions on Netflix’s Bling Empire has been on fans’ minds ever since he made the reference. In reality, the extended Lim family have had $3.5 billion of their assets frozen. It’s no secret that the reality TV star is wealthy, just like his peers on Bling Empire. And […]
Kane Lim‘s “drama from Singapore” that he mentions on Netflix’s Bling Empire has been on fans’ minds ever since he made the reference. In reality, the extended Lim family have had $3.5 billion of their assets frozen.
It’s no secret that the reality TV star is wealthy, just like his peers on Bling Empire. And season 2 is no different because the entire premise of the show is based on a group of rich Asian friends living in Los Angeles together.
Although he doesn’t talk much about his family, Kane dropped hints about Singapore-based drama happening in his home country. The star revealed that it has “nothing to do with my family” as they left the business two decades ago.
- BEFORE AND AFTER: Has Kane Lim had plastic surgery?
Kane Lim talks ‘Singapore drama’
Kane has spoken about drama happening in his home country Singapore, where he packed up from for Los Angeles nine years ago, on Netflix’s Bling Empire. His co-star Anna Shay mentioned a “family lawsuit” in the series.
He briefly revealed in a confessional that there is something going on within the business his close family used to be a part of. His parents and siblings are no longer involved in the company which is facing a fraud case. Kane said:
There’s some drama that’s happening in Singapore, but, like, it has nothing to do with my family. We left a long time ago… My dad told me nothing. Yeah, my dad. We’ve been so good, so, yeah. You know, every family goes through different things in life. And right in this case, like, it has nothing to do with us. But it’s tough because I’m sad for whatever is happening, but I can’t do anything about it.
The Netflix star told Yahoo! News in 2021 that his grandparents came [to Singapore] from Communist China with nothing before adding that he is the “black sheep of his family”.
The Bling Empire star’s family lawsuit
In May 2021, the Lim family had $3.5 billion of their assets frozen, which was approved by Singapore’s High Court. According to Bloomberg, the assets belonged to the founding family of collapsed oil trader Hin Leong Trading (Pte.) Ltd.
Hin Leong, once the city state’s largest independent oil trader, had applied through its then-managers to freeze assets, shares and funds held by its founder, known as OK Lim, and his two children.
The request was put in place due to a risk of asset dissipation as over 20 banks fought to recover billions of dollars in loans to the trader. Kane’s reported uncle was sued for allegedly using forged documents to obtain financing.
The oil tycoon, all his children, and an employee from his business were explicitly named in the lawsuit by HSBC to recover $85.3 million in loans, but the former denied the allegations.
He claimed that the trade records the bank received were falsely delivered, with no ulterior motives. As per reports, the Lim family later decided to liquidate several of their businesses.
- NETFLIX: Who are Kane Lim’s parents and what is his ethnicity?
Kane’s family and net worth
Kane’s dad is a billionaire business owner from Singapore. When he turned 17, his dad gave him a five-figure loan which he used to start investments in fashion and stocks – and he paid it back in two months!
Apart from designing handbags and jacket collections, the 31-year-old has many designer items of his own, from Dior, Versace and Cartier. The real estate developer and investor started his own business when he was 17 years old.
Just three years after launching the company, he made his first million. As reported by asiaone, Kane declined to reveal details of his family business and his dad’s identity, as the family prefers to keep a low profile.
WATCH BLING EMPIRE ON NETFLIX NOW