Money and handcuffs. Concept for corruption, fraud, money laundry. Credit: chee siong teh/Adobe StockSingapore Tycoon Loses Suit Against HSBC, Sentenced To Prison On Forgery Charges
The judgement is in relation to the high-profile demise of Singapore commodity trading business, Hin Leong Trade Pte Ltd., which in 2021 shut down after failing to restructure $4 billion in debt.
November 19, 2024 at 04:59 AM
2 minute read
A Singapore court has sentenced former oil tycoon Oon Kuin Lim to 17.5 years in prison on three charges of cheating and abetting forgery against banking giant Hongkong Shanghai Banking Corporation (HSBC), amidst one of the largest reported fraudulent trading cases in the city-state.
The judgment stems from the high-profile demise of Singapore commodity trading business, Hin Leong Trade Pte Ltd., which in 2021 shut down after failing to restructure $4 billion in debt.
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