Updated:2024-10-16 03:40 Views:61
SINGAPORE: Prosecutors are seeking 20 years' jail for the founder of collapsed oil trading firm Hin Leong Trading Lim Oon Kuin, for cheating a bank and abetting forgery involving US$111.7 million (S$148.7 million).
Lim, a "legend in Singapore's oil industry", had orchestrated one of the most serious cases of trade financing fraud ever prosecuted in Singapore through his employees, the prosecution said.
The company was one of the largest oil trading companies in Asia until its sudden collapse in April 2020.
Lim, 82, had contested the case, but was convicted of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery.
He arrived in court on Tuesday (Oct 15) wearing a face mask, and in a wheelchair pushed by a woman.
After hearing a morning of arguments on the sentence to be givensga gaming, Principal District Judge Toh Han Li adjourned sentencing to a later date, saying he needed more time.
The 82-year-old former businessman arrived in court in a wheelchair. (Photo: CNA/Syamil Sapari)
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