Hin Leong Founder Charged With Abetment of Forgery: ST

Hin Leong founder Lim Oon Kuin was charged in Singapore court with abetment of forgery for the purpose of cheating, the Straits Times reported.

Lim was accused of instigating a Hin Leong employee to forge a document purportedly issued by UT Singapore Services, according to the report. Additionally:

“The document stated that Hin Leong had transferred more than one million barrels of gasoil to China Aviation Oil (Singapore) Corporation. The document was also allegedly used to secure more than US$56 million (S$77 million) in trade financing from a financial institution, said the newspaper.”

If convicted, Lim faces up to 10 years in prison, as well as a fine. Investigations are ongoing into other potential offenses, the Straits Times said.

For more on the case, see from April 21: Singapore Police Open Probe Into Oil Trader Hin Leong

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.