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

‘Doing the least obvious thing’: Ukraine embarrasses Putin...

August 10, 2024

Russia says ‘Ukrainian special services agent’ detained in...

April 26, 2025

Rice crisis: Japan releases strategic reserves to ease...

April 7, 2025

US ‘not genuine’ in talks over Tehran’s nuclear...

May 10, 2025

92-year-old British man convicted of rape and murder...

June 30, 2025

Sole survivor of Air India crash lays his...

June 19, 2025

Afghan Taliban forces target ‘several points’ in Pakistan...

December 28, 2024

Kenya’s president promises to stop abductions following wave...

December 29, 2024

Japan fights forest fire that has forced 1,200...

March 4, 2025

Israeli airstrike on central Gaza school compound housing...

May 6, 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

    • From bus driver to dictator: Nicolás Maduro’s rise and fall in Venezuela

      January 3, 2026
    • Key takeaways from Jack Smith’s testimony to House Judiciary Committee

      January 3, 2026
    • Trump-aligned super PAC enters 2026 midterms with nearly $300M war chest

      January 3, 2026
    • DOGE says agencies cut $1.6B in federal contracts, flags spending on Somalia, HHS web services

      January 3, 2026
    • Protests spread across Iran as regime threatens US forces as ‘legitimate targets’ after Trump warning

      January 2, 2026
    • Schumer silent as Mamdani scraps antisemitism definition, synagogue security

      January 2, 2026

    Categories

    • Business (838)
    • Investing (661)
    • Politics (6,828)
    • 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