Close Menu
World Economist – Global Markets, Finance & Economic Insights
  • Home
  • Economist Impact
    • Economist Intelligence
    • Finance & Economics
  • Business
  • Asia
  • China
  • Europe
  • Economy
  • USA
    • Middle East & Africa
    • Highlights
  • This week
  • World Economy
    • World News
What's Hot

Gold moves in a positive zone before US retail sales data

August 15, 2025

China rolls out mandatory safety regulations for power banks after fire incidents

August 15, 2025

Yen resumes gains on strong Japanese growth data

August 15, 2025
Facebook X (Twitter) Instagram
Friday, August 15
Facebook X (Twitter) Instagram
World Economist – Global Markets, Finance & Economic Insights
  • Home
  • Economist Impact
    • Economist Intelligence
    • Finance & Economics
  • Business
  • Asia
  • China
  • Europe
  • Economy
  • USA
    • Middle East & Africa
    • Highlights
  • This week
  • World Economy
    • World News
World Economist – Global Markets, Finance & Economic Insights
Home » Singapore’s Iswaran gifts scandal: Ong Beng Seng avoids jail, fined US$23,400
Asia

Singapore’s Iswaran gifts scandal: Ong Beng Seng avoids jail, fined US$23,400

adminBy adminAugust 15, 2025No Comments2 Mins Read
Share Facebook Twitter Pinterest Copy Link LinkedIn Tumblr Email VKontakte Telegram
Share
Facebook Twitter Pinterest Email Copy Link
Post Views: 8


Ong Beng Seng, a Singapore-based billionaire hotelier and architect of the city state’s Formula One Grand Prix, was fined S$30,000 (US$23,400) on Friday over a charge of abetting former transport minister S. Iswaran in a gifts scandal.

Ong, a 79-year-old Malaysian national, earlier this month pleaded guilty to the charge of abetting Iswaran in obstructing justice, admitting to relaying sensitive information about an ongoing anti-corruption investigation to the then minister.

The case has riveted Singapore, a nation that consistently tops global anti-corruption rankings and prides itself on the probity of its public officials, who are among the world’s best paid.

On Friday, Principal District Judge Lee Lit Cheng found that judicial mercy applied in this case and sentenced Ong to the maximum fine for the offence.

Iswaran was sentenced to 12 months’ imprisonment by a High Court judge last October after being convicted on four counts of accepting gifts from individuals with whom he had professional dealings as a public servant and one charge of obstructing justice.

According to court documents, Ong’s offence centred on phone conversations held in May 2023. The majority shareholder of Singapore GP Pte Ltd – the company that organises the Singapore F1 Grand Prix – was informed by his associates on May 18 that the Corrupt Practices Investigation Bureau had seized a flight manifest detailing a trip to Doha.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email Telegram Copy Link
admin
  • Website

Related Posts

Asia

Nearly 3,000 Malaysian government employees caught taking bribes in a decade

August 15, 2025
Asia

Indonesia’s Prabowo touts economic wins in defiant first state of the nation address

August 15, 2025
Asia

South Korea, Japan aim to show solidarity amid conflicting US signals at Tokyo summit

August 15, 2025
Asia

Filipino green card holder’s detention in US sparks concerns about ‘scapegoating of migrants’

August 15, 2025
Asia

‘I hate Malaysia’ yells knife-wielding foreign student before attacking 6 in Selangor

August 14, 2025
Asia

Power cut strands 30,000 at Japan’s Osaka expo, sparks calls for better crisis planning

August 14, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Yuan slips from two-week high as China data disappoints – Markets

August 15, 2025

Call option: Askari Bank to redeem Rs6bn TFCs early – Business & Finance

August 15, 2025

Intra-day update: rupee maintains upward momentum against US dollar – Markets

August 15, 2025

KSE-100 crosses 147,000 as Moody’s upgrade improves investor mood – Markets

August 15, 2025
Latest Posts

PSX hits all-time high as proposed ‘neutral-to-positive’ budget well-received by investors – Business

June 11, 2025

Sindh govt to allocate funds for EV taxis, scooters in provincial budget: minister – Pakistan

June 11, 2025

US, China reach deal to ease export curbs, keep tariff truce alive – World

June 11, 2025

Subscribe to News

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Recent Posts

  • Gold moves in a positive zone before US retail sales data
  • China rolls out mandatory safety regulations for power banks after fire incidents
  • Yen resumes gains on strong Japanese growth data
  • Nearly 3,000 Malaysian government employees caught taking bribes in a decade
  • Indonesia’s Prabowo touts economic wins in defiant first state of the nation address

Recent Comments

No comments to show.

Welcome to World-Economist.com, your trusted source for in-depth analysis, expert insights, and the latest news on global finance and economics. Our mission is to provide readers with accurate, data-driven reports that shape the understanding of economic trends worldwide.

Latest Posts

Gold moves in a positive zone before US retail sales data

August 15, 2025

China rolls out mandatory safety regulations for power banks after fire incidents

August 15, 2025

Yen resumes gains on strong Japanese growth data

August 15, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Archives

  • August 2025
  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • June 2024
  • October 2022
  • March 2022
  • July 2021
  • February 2021
  • January 2021
  • November 2019
  • April 2011
  • January 2011
  • December 2007
  • July 2007

Categories

  • AI & Tech
  • Asia
  • Banking
  • Business
  • Business
  • China
  • Climate
  • Computing
  • Economist Impact
  • Economist Intelligence
  • Economy
  • Editor's Choice
  • Europe
  • Europe
  • Featured
  • Featured Business
  • Featured Climate
  • Featured Health
  • Featured Science & Tech
  • Featured Travel
  • Finance & Economics
  • Health
  • Highlights
  • Markets
  • Middle East
  • Middle East & Africa
  • Middle East News
  • Most Viewed News
  • News Highlights
  • Other News
  • Politics
  • Russia
  • Science
  • Science & Tech
  • Social
  • Space Science
  • Sports
  • Sports Roundup
  • Tech
  • This week
  • Top Featured
  • Travel
  • Trending Posts
  • Ukraine Conflict
  • Uncategorized
  • US Politics
  • USA
  • World
  • World & Politics
  • World Economy
  • World News
© 2025 world-economist. Designed by world-economist.
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.