Simple Money Goal
  • Economy
  • Editor’s Pick
  • Investing
  • Politics
  • Stock
  • Top News
  • Economy
  • Editor’s Pick
  • Investing
  • Politics
  • Stock
  • Top News
No Result
View All Result
Simple Money Goal
No Result
View All Result
Home Economy

Billionaire who brought F1 to Singapore charged in landmark corruption probe

by
October 4, 2024
in Economy
0
Billionaire who brought F1 to Singapore charged in landmark corruption probe

A Singapore court charged a property billionaire on Friday with obstructing justice and abetting offenses by a disgraced ex-transport minister jailed a day earlier in the city-state’s high-profile government graft case.

Ong Beng Seng, the 78-year-old owner of Hotel Properties Ltd and the rights holder to the Singapore Grand Prix Formula One race, is accused of giving high-value gifts to ex-minister S. Iswaran, who on Thursday became the first former cabinet member to be jailed in Singapore.

The case has been the subject of major intrigue in Singapore, a wealthy financial hub that offers ministers salaries of more than S$1 million dollars ($771,247) to deter graft and prides itself on its reputation for clean governance.

Iswaran was imprisoned for 12 months for obstructing justice and improperly receiving gifts as a public servant, with Ong a central part of the prosecution’s case.

Ong has so far issued no comment on the accusations. Channel NewsAsia said he entered no plea on Friday and did not indicate how he would plead.

Ong’s firm, Singapore-listed Hotel Properties, requested a trading halt early on Friday following Thursday’s announcement that he would be charged.

During Iswaran’s trial, prosecutors said the ex-minister received gifts worth more than $300,000, including tickets to English Premier League soccer matches, the F1 Grand Prix, London musicals and a ride on a private jet to Doha.

Ong was charged with one count of abetting Iswaran’s receiving of valuables and one count of obstruction of justice, according to the charge sheet.

During Iswaran’s trial, the court heard how the minister had asked Ong to bill him for the Doha trip on the private jet, after he discovered the anti-graft agency had seized the flight manifest for an unrelated case.

Justice Vincent Hoong, who presided over Iswaran’s case, said on Thursday the minister’s request to be billed was a deliberate move to obstruct the course of justice and try to evade investigation.

Channel NewsAsia said Ong’s court hearing was adjourned until pre-trial proceedings on November 15.

This post appeared first on cnn.com
Previous Post

Massacre in Burkina Faso left 600 dead, double previous estimates, according to French security assessment

Next Post

North Korea’s Kim Jong Un threatens to destroy the South with nuclear weapons if provoked

Next Post
North Korea’s Kim Jong Un threatens to destroy the South with nuclear weapons if provoked

North Korea’s Kim Jong Un threatens to destroy the South with nuclear weapons if provoked

Subscribe to Simplemoneygoal.com

    Russia becomes first nation to recognize Taliban government of Afghanistan since 2021 takeover
    Economy

    Russia becomes first nation to recognize Taliban government of Afghanistan since 2021 takeover

    July 4, 2025
    At 90, the Dalai Lama braces for final showdown with Beijing: his reincarnation
    Economy

    At 90, the Dalai Lama braces for final showdown with Beijing: his reincarnation

    July 4, 2025
    Essence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty
    Politics

    Essence Fest leads a summer of events for Black entrepreneurs galvanized by economic uncertainty

    July 4, 2025
    Tariffs and weaker beer demand are weighing on Modelo owner Constellation Brands
    Politics

    Tariffs and weaker beer demand are weighing on Modelo owner Constellation Brands

    July 3, 2025
    • About us
    • Contacts
    • Email Whitelisting
    • Privacy Policy
    • Terms and Conditions

    Copyright © 2023 Daily Trading Digest. All Rights Reserved.

    No Result
    View All Result
    • Economy
    • Editor’s Pick
    • Investing
    • Politics
    • Stock
    • Top News

    Copyright © 2023 Daily Trading Digest. All Rights Reserved.