Bank Street Journal
  • Business
  • Politics
  • World
  • Investing
  • Business
  • Politics
  • World
  • Investing
No Result
View All Result
Bank Street Journal
No Result
View All Result
Home World

Billionaire who brought F1 to Singapore charged in landmark corruption probe

October 4, 2024
in World
Billionaire who brought F1 to Singapore charged in landmark corruption probe
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

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

Previous Post

North Korea’s Kim Jong Un threatens to destroy the South with nuclear weapons if provoked

Next Post

Massacre in Burkina Faso left 600 dead, double previous estimates, according to French security assessment

Next Post
A Cambodian maid was arrested and deported by Malaysia for criticizing Cambodian leaders on social media

A Cambodian maid was arrested and deported by Malaysia for criticizing Cambodian leaders on social media

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


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

    Recent News

    China quietly builds worldwide space network, alarming US over future military power

    China quietly builds worldwide space network, alarming US over future military power

    January 16, 2026
    Former Ukrainian PM accused of bribing politicians with US dollars to weaken Zelenskyy’s government

    Former Ukrainian PM accused of bribing politicians with US dollars to weaken Zelenskyy’s government

    January 16, 2026
    Biden DHS’s purchase of weapon linked to Havana Syndrome attacks leads House Republicans to demand answers

    Biden DHS’s purchase of weapon linked to Havana Syndrome attacks leads House Republicans to demand answers

    January 16, 2026
    Venezuelan opposition leader María Corina Machado presents Nobel medal to Trump despite institute ban

    Venezuelan opposition leader María Corina Machado presents Nobel medal to Trump despite institute ban

    January 16, 2026
    Disclaimer: bankstreetjournal.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.

    Popular

    Crypto Market Update: CLARITY Act Set for January Senate Markup, Selig Confirmed as CFTC Chair

    Crypto Market Update: CLARITY Act Set for January Senate Markup, Selig Confirmed as CFTC Chair

    December 20, 2025

    Trump’s Venezuela push runs into hard realities for US energy giants

    Trump’s Venezuela push runs into hard realities for US energy giants

    January 9, 2026

    Recent News

    China quietly builds worldwide space network, alarming US over future military power

    China quietly builds worldwide space network, alarming US over future military power

    January 16, 2026
    Former Ukrainian PM accused of bribing politicians with US dollars to weaken Zelenskyy’s government

    Former Ukrainian PM accused of bribing politicians with US dollars to weaken Zelenskyy’s government

    January 16, 2026
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2026 bankstreetjournal.com | All Rights Reserved

    No Result
    View All Result
    • Business
    • Politics
    • World
    • Investing

    Copyright © 2026 bankstreetjournal.com | All Rights Reserved