Asia/Pacific News
Hin Leong's OK Lim Convicted of Cheating and Instigating Forgery
Friday May 10, 2024
OK Lim, the founder of defunct Singapore oil trading firm Hin Leong, has been convicted of two charges of cheating and one of instigating forgery for the purposes of cheating.
Lim was found guilty of the three charges at a Singapore court on Friday.
Sentencing has been scheduled for October 3, and Lim could face a jail sentence of up to 10 years as well as fines.
Hin Leong collapsed in 2020 in the wake of that year's crude-price crash and allegations of forged documents being used to secure funding from banks. The firm and its subsidiary Ocean Bunkering Services, formerly one of Singapore's top marine fuel suppliers, has been wound up.
