Singapore oil trader OK Lim convicted of cheating, abetting forgery

📆 5/10/2024 3:12 PM
📰 malaymail

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Cheating Case,Hin Leong Trading,Lim Oon Kuin

SINGAPORE, May 10 — The founder of a failed Singapore oil trading company was convicted today of cheating a major bank and abetting forgery in a case that tainted the...

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The octogenarian businessman faced a total of 130 criminal charges allegedly involving hundreds of millions of dollars. Sentencing was set for October 3 and Lim’s bail was extended until then. He could face up to 10 years in jail. He admitted the firm he founded in the 1960s after emigrating from China had hidden US$800 million in losses over the years, while it also owed almost US$4 billion to banks.

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