Singapore Billionaire Fined $23,400 in Gift Scandal
In a shocking turn of events, Singapore-based billionaire Ong Beng Seng has been slapped with a hefty fine of $23,400 (S$30,000; £17,251) after pleading guilty to a charge linked to a gift scandal that rocked the nation last year.
Hotel tycoon Ong Beng Seng copped to abetting the obstruction of justice by aiding former transport minister Subramaniam Iswaran in covering up evidence during a corruption probe.
Ong went overboard with lavish gifts for Iswaran, such as an all-expenses paid trip with a private jet ride, while they were supposedly conducting official business.
Despite facing a potential seven-year jail sentence, a judge opted for “judicial mercy” considering Ong’s deteriorating health.
The 79-year-old is battling multiple myeloma, a rare bone marrow cancer.
During his sentencing, Judge Lee Lit Cheng stated that a fitting punishment for Ong would have been three months behind bars, but incarceration could pose a threat to his life.
In December 2022, Ong enticed Iswaran with a trip to Qatar, offering to foot all expenses, including hotel lodging and a flight to Doha on Ong’s personal jet.
Although Iswaran accepted the invite, he stipulated a specific return date to Singapore, prompting Ong to arrange a commercial flight for his travel back.
However, Iswaran only requested Ong’s company to bill him for a S$5,700 business class ticket after learning that Singapore’s anti-corruption bureau was probing the flight as part of a separate case involving Ong’s associates.
Ministers in Singapore are prohibited from keeping gifts unless they reimburse the government for the market value and disclose any presents received from business associates.
Singapore’s legislators are among the highest-paid globally, with the high salaries aimed at curbing corruption.
The duo was arrested in July 2023, with charge sheets revealing Iswaran had received over S$403,000 ($311,882; £234,586) in flights, hotel stays, musicals, and grand prix tickets.
At the time of the transgressions, Iswaran held roles in the government’s F1 steering committee and as the lead negotiator on F1-related business affairs.
Prosecutors argued that while Ong played a significant role in Iswaran’s cover-up attempt, his culpability paled in comparison to the former minister’s, given his position.
Ong’s legal team contended that he merely followed Iswaran’s lead in the scheme.
Originally from Malaysia, Ong migrated to Singapore as a child and established a hotel and property empire in the 1980s.
Ong was instrumental in bringing the F1 Grand Prix to Singapore, with his company Hotel Properties Limited (HPL) hosting renowned brands like Four Seasons and Marriott.
Hotel Properties Limited announced in April that Ong would step down as managing director to focus on his health concerns. — BBC
