Singapore Oil Tycoon OK Lim Sentenced to 17 1/2 Years Jail
- Lim will appeal his sentence, to be filed within 14 days
- Hin Leong was a commodity trading pioneer in the city state
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A Singapore court has sentenced oil tycoon Lim Oon Kuin to 17-and-half years in jail for cheating HSBC Holdings Plc and instigating forgery, in a case that has shaken the city-state’s commodity-trading community.
The 82-year-old founder of Hin Leong Trading Pte., who has appeared for court hearings in a wheelchair, faced three out of more than 100 charges initially presented. Lim and his children had already agreed in September to pay $3.6 billion to the company’s liquidators and creditor HSBC in a separate, civil, case, and have filed for bankruptcy.