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Veronica Yip Denies Husband Has Financial Woes

By on December 14, 2012

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Recent tabloid reports suggested that Veronica Yip (葉玉卿) and her Chinese-American businessman husband,  Jeffrey Wu (胡兆明), were having financial problems, which prompted her to make a comeback in the Hong Kong film industry. Alarmed that these rumors will affect her husband’s business reputation adversely, Veronica immediately held a press conference to clarify.

Business Reputation at Stake

There were news reports stating that Veronica and Jeffrey were suffering from financial woes and things were looking bleak for the couple because of  their poor investment decisions. Previously only seen flying in a private jet, Veronica noticeably flew on a commercial airline back to Hong Kong. Speculations were made that their private jet has been confiscated and they were heavily in debt.

Veronica and Jeffrey were extremely unhappy about the rumors. Much as they wanted to let the matter go, they finally decided to hold a press conference to clarify the situation. As Jeffrey’s business reputation was at stake, the couple acted immediately to preserve his credibility. They consulted lawyers from both the States and Hong Kong to obtain the necessary documents to show to the public.

Financial Situation Steady

Veronica explained that their two private jets were on a permanent loan from the bank. The bank has since stopped loaning private jets to its customers and had sold the planes to other companies. She said matter-of-factly that the company, Texas 1845, initially sued them. However, both parties have reached an agreement where the couple will buy the jets for $14 million USD. Texas 1845 has yet to deliver the planes. Right now, the couple has counter-sued the company and the case is pending a court hearing.

As for their alleged debt of $900,000 USD, Veronica admitted there was such a loan. She said that the creditor was formerly a good business friend of theirs.  She and her husband are still trying to recover the loan from their friend, with the outstanding balance at several millions of dollars. As the court case is still underway, Veronica cannot reveal too many details.

Veronica felt the news reports have made a mountain out of a molehill over Jeffrey’s court cases. “In fact, it’s common for businesses to go to court often. There’s nothing peculiar about that.”

$20 Million USD is A Pittance Amount

Recent tabloids published incorrect photos of a house that they claimed belonged to Veronica. She boasted that her house in New York occupies 20 acres of land. Although it was hard work for her to manage the house, she would never sell it.

Veronica also brushed off the loss Jeffrey had incurred several years ago investing in technology stocks. She declared, “$20 million USD is a pittance amount to us. We can still afford that loss. ”

She further claimed that the monetary figures reported in the tabloids were incorrect as well. Jeffrey’s real estate development, condominium building, Victoria Towers, was valued much higher than the published figure of $70 million USD, which was the amount of the valuation two years ago during the American economic collapse.

Puny” Bank

Reports further claimed that the bank Veronica and Jeffrey had invested in, United International Bank in the United States, was only a puny bank. Veronica rebutted, “What is the definition of ‘puny’? The bank is located at a highly Chinese-populated area and is making money. My husband holds 70 percent of the shares in the bank; it is not what the news reported as 70 percent of bad debt.”

Veronica fumed, “These are serious allegations! We will consult our lawyers in both the United States and Hong Kong and take legal action.”

Regrets Comeback Decision

The false news reports have left a bad taste in Veronica’s mouth. She lamented that she agreed to make a comeback film, which wrought the negative rumors. Accusations that her comeback was prompted by her husband’s dire straits quickly dampened her mood. She was saddened that by coming back to act, she has instead caused misery to her family. I Love HK 2013 <我愛HK2013恭喜發財> will likely be her farewell show to the viewers.

Despite this, Veronica has no regrets returning to Hong Kong as she was able to meet with close friends, and more importantly, to spend time with her elderly mother.

Source: Ming Pao

This article is written by Karen for JayneStars.com.

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  • Readers' Comments (29)

    1. sandcherry says:

      Veronic Yip looked quite old in recent her interview at TVB Scoop.

      • sandcherry says:

        As a matter of fact, I was shocked to see her being so old. She looked like someone in her late 50s. I just checked her age in Wikipedia. She was born in 1967 and is only 45 years old.

      • sandcherry says:

        Veronica Yip even looked older in “The Scoop” than in the above photo.

    2. RaySimpson says:

      I think her plastic surgeon screwed up big time.

    3. Critics says:

      Veronica, coming back to HK just to act in one movie is still considered taking away someone rice bowl. So all knifes are out to stab you, don’t be naive.

      Besides you might have hidden enemies during your acting days.

    4. plastics says:

      no wonder she looks so different

    5. wingz says:

      Attention Seekers.

      Wondering does she smoke?..she seems wear tick lipsticks all the times to cover up her dark smoking lips(is me wild guess)

    6. le says:

      Veronica has aged and is very skinny. She is younger than Elizabeth Lee, but Lee kept very well. Lee looks better than before, in my opinion.

      • HeTieShou says:

        You mean Elizabeth Lee Mei Fung?? Where is she and what is she doing now? I have not heard about her for a long time…

        • sandcherry says:

          Lee Mei Fung is residing in Taiwain, married to a rich husband. They have twins who should be pretty big now.

        • HeTieShou says:

          Thanks for the info Sandcherry!! I am glad that she is doing well. When did she get married?? I heard that the ones that competed with her in the MS. HK 1987 are now living in the US. I heard Pauline Yeung lives in LV while Wing lam lives in LA now… I really lament the days when they were all still acting and living in HK… But really happy to know that they are all doing well now.

        • sandcherry says:

          Lee Mei Fung still looks very pretty. She appeared in some shows in Hong Kong once in a while. I saw her on TV.

          Haven’t seen Pauline Yeung for a while. Personally I think Lee Mei Fung looked prettier, but Pauline Yeung was not too bad.

        • Funn Lim says:

          Elizabeth Lee still looks beautiful from what I remember.

      • joy says:

        yeah, better to live in taiwan if want to stay healthy

    7. Funn Lim says:

      ” “$20 million USD is a pittance amount to us. We can still afford that loss. ””

      Wow… really? Good for her then. I think. I mean since she can afford to throw away 20m USD surely she could have thrown away that much to find a better surgeon for her face. I mean it is her money, she can spend anyway she wants, flaunt it or whatever but that statement is an insult to other billionaires who did throw away half their wealth, but into the charity causes. How stupid is that comment.

      • HeTieShou says:

        I agree and I can’t believe that she can talk like that when economic times are so bad and many are suffering. Many rich would donate to charity, but she allows their money to just go to waste like that. I wonder if she even worked for any of that money or was it only her husband that did everything while she just sat back to enjoy it?? She should have used that money on her face…

      • frown says:

        she’s not so humble after all

    8. HeTieShou says:

      Even if she did come back for the money, it’s not like she will admit it… She tries to act all rich and stuff so admitting to coming back to film for money will lower her status and show that she is in financial trouble…

      • sandcherry says:

        Well, if Veronica comes back to Hong Kong just to film the lunar year film, it may not be for money. I think she is only one of the support actresses, and the pay will not that good. However, if she films more drama series/movies in future, then she does it for money.

        • wingz says:

          One of the main reason is actually to see her mum. From the many interview I saw on TV, she is trying to project to her kids how popular she is instead a 3rd grade movie star during the 90’s

    9. Ric says:

      The filming fee for the movie can’t be high. It’s ridiculous to assume she’s doing it for the money. I feel bad for her mother who recently past away. I’m sure Veronica regrets returning to HK but at least she got to see her mother one past time before she died. She may possibly have missed the chance to see her if she did not accept the film role.

      • sandcherry says:

        I did not know that Veronica’s mother has already passed away. She said that was her main reason to film a movie in Hong Kong so that she could spend some time with her.

        However, Veronica looks very old for her age now. In the film, she is acting as a grandmother. If I were Veronica, I would not accept a role as a grandmother at the age of only 45.

    10. apalucakap says:

      ‘$20 million USD is a pittance amount to us. We can still afford that loss’

      What a brag! With that amount of money, she can easily see her mum with a snap of her finger anytime, not to take advantage of filming only to see her now, after so many years in hibernation oversea? Not a filial daughter I suppose?

      Maybe the sudden rekindle to filming is to pave way for her children acting career later on. Majority of the oversea Asian people are having a hard time getting a decent job, let alone in film acting.

      And gosh, those stretch marks around the mouth. Make me think of…..

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