Connect with us

Hi, what are you looking for?

Economy

Singapore ex-Transport minister faces 8 new charges in graft case

SINGAPORE — Singapore’s former Transport Minister S. Iswaran was handed eight more charges in a corruption case on Monday, the anti-graft body said, in one of the city-state’s highest-profile corruption scandals.

The additional charges involved allegations he obtained valuable items worth about S$18,956 ($14,077) while minister from an individual whose business had dealings with the Transport Ministry, the Corrupt Practices Investigation Bureau (CPIB) said in a statement.

Mr. Iswaran now faces a total of 35 charges in a case that has gripped Singapore, a major Asian financial hub that prides itself on a squeaky-clean government that is rarely affected by graft and political scandal.

The last corruption case involving a minister was in 1986 when the national development minister was investigated for allegedly accepting bribes. The minister died before he could be charged in court.

Mr. Iswaran, 61, denies the charges according to local media reports.

Those include corruption and obstructing the course of justice, which were leveled on Jan. 18. If convicted of graft, he could be fined up to S$100,000 or face seven years in prison.

He was arrested in July last year and alleged to have obtained kickbacks worth S$384,340 ($286,181) from property tycoon Ong Beng Seng, partly to advance Mr. Ong’s business interests.

Charge sheets show the favors included tickets to football matches, musicals, a flight on Mr. Ong’s private plane and tickets to the Singapore Formula 1 Grand Prix. Iswaran was advisor to the Grand Prix’s steering committee, while Mr. Ong owns the rights to the race. — Reuters

You May Also Like

Investing

Newmont (NYSE: NEM) reported mixed financial results even as the price of gold approached its all-time high. In all, the company’s earnings per share...

Investing

Fisker (NYSE: FSR) stock price has been one of the best-performing electric vehicle (EV) stocks this week even as Tesla slumped. The shares jumped...

Investing

The Fox Corporation (NASDAQ: FOX) stock price has been under pressure as investors come to terms with the abrupt firing of Tucker Carlson. The...

Investing

NatWest (LON: NWG) share price rose sharply, helped by the strong results from Barclays. The stock jumped to a high of 274.8p, which was...




Disclaimer: Oldamericanbroker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the-company.


Copyright © 2024 Oldamericanbroker.com