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
Massacre in Burkina Faso left 600 dead, double previous estimates, according to French security assessment
next post
Dozens of zoo tigers die after contracting bird flu in southern Vietnam

You may also like

Voices are starting to emerge from quake devastated...

March 29, 2025

How Trump’s love of the British royals could...

January 10, 2025

Aid to Gaza hangs by a thread amid...

June 9, 2025

Trump-Xi call restores trade truce. But the supply...

June 6, 2025

UK leader hits back at Elon Musk’s ‘lies’...

January 7, 2025

Baby gorilla rescued from cargo hold of Turkish...

January 13, 2025

Entire families killed in Syria sectarian violence, UN...

March 12, 2025

Pope Leo praises work of journalists in first...

June 21, 2025

At least four in hospital after blast causes...

December 7, 2024

Smoke grenades tossed in Serbian parliament, lawmaker suffers...

March 4, 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

    • 10 key takeaways from DOJ’s release of Ghislaine Maxwell’s Epstein interviews

      August 23, 2025
    • Jackson’s scathing dissent levels partisan charge at colleagues after high-profile ruling

      August 23, 2025
    • Trump DOJ releases ‘thousands’ of Epstein files to House Oversight Committee

      August 22, 2025
    • Jackson scathing dissent levels partisan charge at colleagues after high-profile ruling

      August 22, 2025
    • ‘Leftist’ taxpayer-funded academy sparks backlash after moving against Trump’s rollback of key regulation

      August 22, 2025
    • Justice Jackson accuses Supreme Court of ensuring Trump ‘always wins’ in scathing dissent

      August 22, 2025

    Categories

    • Business (768)
    • Investing (661)
    • Politics (5,345)
    • 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