A Singapore oil magnate has been sentenced to 17.5 years in prison for fraud and forgery in a case that prosecutors said has tarnished the city-state’s reputation as Asia’s leading oil trading hub

Octogenarian Lim Oon Kuin handed long jail term as ‘deterrent’ in city-state’s fight against commodity trading corruption

Photo by Reuters His firm, Hin Leong Trading, was among Asia's biggest oil trading companies before its sudden and dramatic collapse in 2020.Sentencing him to 17 and a half years in jail, State Courts judge Toh Han Li said he agreed with the prosecution that the offenses had the potential to undermine confidence in Singapore's oil trading industry.

The tycoon will appeal against the sentence, and his lawyer says that his $4 million bail has also been extended

The founder of a failed Singapore oil trading company was sentenced Monday to nearly 18 years in jail for cheating banking giant HSBC out of millions of dollars in one of the country's most serious cases of fraud.

The founder of a failed Singapore oil trading company was sentenced Monday to nearly 18 years in jail for cheating banking giant HSBC out of millions of

An octogenarian oil trader has been given a 17-and-a-half-year jail sentence in Singapore for defrauding HSBC, in a long-running case that sent shockwaves through the city-state’s commodity trading sector.