Top Price Market
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

Top Price Market

World

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

A conservationist is building bridges in the Amazon...

Aging Voyager 1 sends back surprising response after...

Six people killed during campaign event in southern...

Russia is covering aircraft with car tires, potentially...

NATO boss calls for much higher defense spending...

Magnitude 7.3 earthquake hits the Pacific island nation...

Suspect in Montenegro shooting dies from self-inflicted injuries...

‘I was really shocked’: Body placed next to...

Mysterious Russian plane crash raises more questions than...

Roadways reopen at Detroit Metro Airport following flooding...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


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

    Latest

    • Trump’s fresh White House portrait sparks interest amid controversy over National Portrait...

    • Development update – Collie graphite micronising facility

    • Trump pushes ‘Big, Beautiful Bill’ as solution to four years of Biden failures: ‘Largest tax cut, EVER’

    • Mexican president hails first judicial election a ‘complete success’ after just 13% turnout

    • Top 10 Uranium-producing Countries

    Categories

    • Business (1,672)
    • Investing (5,005)
    • Politics (7,880)
    • Uncategorized (2)
    • World (6,386)
    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions
    • Email Whitelisting

    Disclaimer: toppricemarket.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 toppricemarket.com | All Rights Reserved


    Back To Top