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

Whale tangled in fishing debris freed in Sydney...

August 23, 2024

European region sees highest number of measles cases...

March 14, 2025

One moment, calm waters. The next, a 900-pound...

March 5, 2025

Badly damaged Russian tankers carrying thousands of tons...

December 16, 2024

‘You are there and you are not alive’:...

March 12, 2025

Taiwan sees threefold surge in suspected Chinese espionage...

January 13, 2025

Mexican mayor killed less than a week after...

October 8, 2024

How a toxic mix of antisemitism, racism and...

November 15, 2024

Israel’s plan to ‘conquer’ Gaza is leaving Palestinians...

May 31, 2025

The first phase of Gaza’s truce could end...

February 28, 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

    • Abortion restrictions create major roadblock for bipartisan Obamacare subsidy deal in Senate

      December 5, 2025
    • Trump administration warned to take front seat as UN chief race shifts left, boosting anti-US contenders

      December 5, 2025
    • Trump admin warned to take front seat as UN chief race shifts left, boosting anti-US contenders

      December 5, 2025
    • GOP unveils plan for ‘Trump Health Freedom Accounts’ to replace Obamacare subsidies with state waivers

      December 5, 2025
    • Republican populism craters as Trump stumbles, Democrats surge

      December 5, 2025
    • Trump taps new architect to reshape White House as $300M ballroom build accelerates

      December 5, 2025

    Categories

    • Business (837)
    • Investing (661)
    • Politics (6,525)
    • World News (3,213)
    • Terms & Conditions
    • Privacy Policy
    • Contact us
    • About us

    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 © 2025 WhaleLargeCapital.com | All Rights Reserved