Founder of collapsed Singapore oil firm Hin Leong faces sentencing for $112M fraud against HSBC.

O.K. Lim, founder of the collapsed Singapore oil trading company Hin Leong Trading, is set to be sentenced on Monday for defrauding HSBC of nearly $112 million. Lim, convicted in May, faces a 20-year jail term sought by prosecutors, while his defense requests seven years. The case, one of Singapore’s most serious frauds, has damaged the country's reputation as a top oil trading hub.

November 18, 2024
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