Whale Large Capital
  • Politics
  • World News
  • Business
  • Investing
  • Politics
  • World News
  • Business
  • Investing

Whale Large Capital

World News

Billionaire who brought F1 to Singapore charged in landmark corruption probe

by October 4, 2024
October 4, 2024
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
0
FacebookTwitterGoogle +Pinterest
previous post
North Korea’s Kim Jong Un threatens to destroy the South with nuclear weapons if provoked
next post
Dozens of zoo tigers die after contracting bird flu in southern Vietnam

You may also like

Former Olympic cyclist Rohan Dennis receives suspended sentence...

May 14, 2025

He survived an assassination attempt. Now South Korea’s...

June 4, 2025

Martyr or coward? Israel and Hamas offer competing...

October 20, 2024

Germany’s far-right may be frozen out of power,...

February 24, 2025

How Ukraine turned the war on its head...

August 17, 2024

Brazilian leader Lula released from hospital after suffering...

May 27, 2025

Venezuela accuses US of ‘kidnapping’ toddler who was...

May 1, 2025

Jenin mayor likens Israeli military operation to war...

February 3, 2025

Legendary Brazilian photographer Sebastião Salgado dead at 81

May 23, 2025

Australia’s center-left Labor Party looks set to retain...

May 3, 2025

    Subscribe today to receive exclusive access to all our retirement secrets and income strategies, including special financial news and updates from our experts. From time to time, our newsletters feature valuable insights and analysis on the latest financial trends. Don't miss out on these exclusive updates – join our subscription to stay informed!


    By opting in you agree to receive emails from us. Your information is secure and your privacy is protected.



    Latest

    • Trump’s apocalyptic Iran warning raises stakes for sweeping US strike threat

      April 7, 2026
    • Graham eyes ‘down payment’ on Trump-backed SAVE Act without Democratic support

      April 7, 2026
    • Midterm alarm bells: Democrats face steep favorability deficit despite election gains

      April 7, 2026
    • Democrat whose parents fled Iran moves to oust Hegseth

      April 7, 2026
    • American journalist kidnapped in Iraq is set free, must leave country ‘immediately,’ her employer says

      April 7, 2026
    • What falling wage growth says about where the U.S. economy is heading

      April 7, 2026

    Categories

    • Business (891)
    • Investing (661)
    • Politics (8,051)
    • World News (3,213)

    Disclaimer: WhaleLargeCapital.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2026 whalelargecapital.com | All Rights Reserved