Reported 2 months ago
OK Lim, the 82-year-old founder of Hin Leong Trading, was sentenced to 17.5 years in prison by a Singapore court for cheating HSBC and forgery, marking a significant scandal in the commodity trading sector. Lim, who appeared in court in a wheelchair, was found guilty of serious cheating offenses amidst a backdrop of his company’s collapse due to hidden losses of $800 million during the pandemic. Despite an appeal being filed, he will serve the sentence, which reflects the severity of his actions that have impacted Singapore's reputation as a trading hub.
Source: YAHOO