Trial begins for Hyflux founder Olivia Lum and five others in Singapore's largest corporate scandal.

The criminal trial of Hyflux founder Olivia Lum and five others begins on Aug 11, nearly three years after charges were filed for Singapore's largest corporate scandal. Lum and her co-defendants are accused of misleading investors about the Tuaspring project, leaving 34,000 investors with $900 million in losses when the firm was wound up in 2021. Lum faces up to seven years in jail and a fine of up to $250,000 for one charge and up to two years and a fine of up to $150,000 for another. The trial is set to run through February 5, 2026.