Singapore's Oil King Appeals 17 Years In Prison In HSBC Fraud Case

Illustration of the hammer of the panel of judges in court. (Pixabay)

JAKARTA - The King of Singapore oil was sentenced to 17 years in prison in the HSBC banking giant fraud case with a loss of millions of dollars.

The sentence of 17 years in prison was handed down by the Judge of the District Court (PN) in Singapore to the defendant Lim Oon Kuin (82) or better known as OK Lim on Monday, November 18.

Chief Judge Toh Han Li did not give leniency away from the demands of the state prosecutor even though the defendant's lawyer OK Lim reasoned that his client had health problems due to age.

The judge said the Singapore Prison Service had adequate medical facilities.

In the verdict hearing, the defendant OK Lim also agreed with the state prosecutor that the case that ensnared him had the potential to undermine confidence in the Singapore oil trading industry.

Previously, the prosecutor charged the defendant OK Lim with 20 years in prison in this case. The reason is because this case is the most serious trade financing fraud case ever in Singapore.

Even though he was sentenced to prison, Defendant OK Lim was still not detained after his lawyer gave a guarantee.

The defendant OK Lim will also appeal to the High Court on this PN decision.

The convict OK Lim has been caught in a case that damaged Singapore's reputation in Asia since May.

His company, Hin Leong Trading, was one of Asia's largest oil trading companies before suddenly collapsing dramatically in 2020.