• 61
  • 40
  • Favorite

Singapore Hin Leong founder O.K. Lim faces another 23 forgery-related charges - prosecutor

Reuters2021-03-30

SINGAPORE, March 30 (Reuters) - Lim Oon Kuin, the founder of collapsed oil trading firm Hin Leong Trading Pte Ltd, is expected to face another 23 charges of forgery-related offences soon, Singapore's prosecution said.

The 23 charges are expected to be tendered on April 8, Deputy Public Prosecutor Navin Naidu told a Singapore court on Monday.

The Singapore Attorney-General's Chambers confirmed the prosecutor's comments.

The Lim family's legal advisers, Davinder Singh Chambers LLC, did not immediately respond to an emailed request for comment.

Last year, Singapore police charged the 78-year-old former oil tycoon, better known as O.K. Lim, with two counts of abetment of forgery for the purpose of cheating.

Owned by O.K. Lim and his children, Hin Leong was set up in 1973 and was once one of Asia's top oil traders. It racked up some $4 billion in debt after a crash in oil prices last year exposed years of losses and alleged fraud by the Lim family.

Accounting firm PwC, which was appointed Hin Leong's judicial manager by the court, said in a report last year the company had overstated the value of its assets by at least $3 billion.

Hin Leong entered court restructuring last year and was wound up in March.

(Reporting by Aradhana Aravindan; Writing by Florence Tan; Editing by Lincoln Feast.)

((Florence.Tan@thomsonreuters.com; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment40

  • TMK1
    ·2021-03-30
    Interesting 
    Reply
    Report
  • dpj
    ·2021-03-30
    hahaha he's in for a long time
    Reply
    Report
  • XiaTian
    ·2021-03-30
    [難過] 
    Reply
    Report
  • zixuan93
    ·2021-03-30
    Good
    Reply
    Report
  • Calvintankw
    ·2021-03-30
    +1
    Reply
    Report
    Fold Replies
  • rippz
    ·2021-03-30
    Madness
    Reply
    Report
    Fold Replies
  • Dinami
    ·2021-03-30
    LOL
    Reply
    Report
  • Chimmy
    ·2021-03-30
    Not O.K now for him is it?
    Reply
    Report
    Fold Replies
  • joeyong
    ·2021-03-30
    ooooooo 
    Reply
    Report
    Fold Replies
    • aliciatng
      thanks
      2021-03-31
      Reply
      Report
  • AlvinYap
    ·2021-03-30
    Gone case
    Reply
    Report
    Fold Replies
    • AlvinYap
      Forgery is baD
      2021-03-30
      Reply
      Report
  • Ah樂
    ·2021-03-30
    No matter what charge he got also won't affected his families. Smart tycoon
    Reply
    Report
    Fold Replies
    • Hayz
      agreed!
      2021-03-30
      Reply
      Report
  • dontlose
    ·2021-03-30
    The rut is deep
    Reply
    Report
    Fold Replies
  • siong
    ·2021-03-30
    [驚訝] 
    Reply
    Report
    Fold Replies
    • zixuan93
      Haha
      2021-03-30
      Reply
      Report
    • howeixiong
      [捂脸]
      2021-03-30
      Reply
      Report
  • JCKL488
    ·2021-03-30
    He’s enjoyed his moments of glory and it’s now payback time 
    Reply
    Report
    Fold Replies
    • Hayz
      if you were in this business... you will know that he is still richer than 90% of us!
      2021-03-30
      Reply
      Report
  • DanielHee
    ·2021-03-30
    Wow!
    Reply
    Report
  • Weilonglek
    ·2021-03-30
    Interesting read
    Reply
    Report
  • JLX
    ·2021-03-30
    Good discover 
    Reply
    Report
  • ShiJun
    ·2021-03-30
    Like and comment let’s go
    Reply
    Report
    Fold Replies
    • joeyong
      here
      2021-03-30
      Reply
      Report
  • ShiJun
    ·2021-03-30
    downy
    Reply
    Report
  • OlafPikachu
    ·2021-03-30
    Interesting ?
    Reply
    Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial