3-10-2024 (SINGAPORE) Prominent property tycoon and Singapore Grand Prix chairman Ong Beng Seng is set to face criminal charges on Friday, 4 October. The 78-year-old magnate, whose vast empire spans property development and hospitality, finds himself at the centre of a corruption scandal that has already claimed the career of a former cabinet minister.
According to court documents, Mr Ong is expected to be charged with two offences: one count of abetting under Section 165 of the Penal Code, which pertains to a public servant obtaining valuables, and another under Section 204A, related to obstructing justice. The businessman is currently out on bail, set at a staggering S$800,000.
This latest development comes on the heels of the high-profile conviction of former Transport Minister S Iswaran, who was sentenced to one year in prison earlier this week. Iswaran pleaded guilty to four charges under Section 165, involving the acceptance of valuable items worth over S$400,000, including luxury flights, event tickets, and premium alcoholic beverages. He also admitted to one count of obstructing justice by reimbursing Mr Ong for a flight from Doha to Singapore.
The intricate web of allegations surrounding Mr Ong first came to light in July 2023 when he was arrested and subsequently released on bail. His name featured prominently in the initial graft charges against Iswaran, which suggested that the then-minister had improperly obtained Formula 1 Grand Prix tickets, flights, and hotel accommodation from the tycoon.
These charges initially fell under the Prevention of Corruption Act, alleging that the gifts were intended to influence Iswaran in advancing Mr Ong’s business interests, particularly in contracts with the Singapore Tourism Board for the Singapore Grand Prix and the ABBA Voyage virtual concert. However, prosecutors later amended these to the lesser charges under Section 165 of the Penal Code.
The case has sent shockwaves through Singapore’s typically staid political and business landscape. Known for its stringent anti-corruption measures, the city-state prides itself on transparency and clean governance. The involvement of such a high-profile business figure in a corruption scandal involving a senior government official has raised questions about the intersection of business and politics in the tightly controlled nation.
Mr Ong’s impending charges also cast a shadow over the future of the Singapore Grand Prix, an event he was instrumental in bringing to the city-state and which has become a jewel in Singapore’s tourism crown.
As the legal proceedings unfold, attention is also turning to construction magnate Lum Kok Seng, another businessman implicated in Iswaran’s case. Iswaran admitted to receiving approximately S$19,000 worth of gifts from Mr Lum, including expensive whisky, golf equipment, and a high-end bicycle. However, the Attorney General’s Chambers has yet to announce any decision regarding potential charges against Mr Lum.
The origins of this sprawling investigation can be traced back to May 2023, when the Corrupt Practices Investigation Bureau (CPIB) stumbled upon evidence of Iswaran’s private jet travel while investigating an unrelated matter involving Mr Ong’s associates.
