SINGAPORE, 14 Aug (Reuters) – Lim Oon Kuin, founder of Singapore oil company Hin Leong Trading (Pte) Ltd, charged Friday in Singapore court of inciting counterfeiting with the aim of cheating, police said.
Hin Leong, one of Asia’s largest oil traders, was placed under so-called judicial control in April after banks demanded loan repayment as oil costs fell amid the coronavirus pandemic, a cave in which they expose the hell beyond currency problems.
In Friday’s accusations, Lim, known as O.K. Lim was accused of inciting a Hin Leong worker to forge a document allegedly issued through UT Singapore Services Pte Ltd stating that Hin Leong had transferred more than one million barrels of diesel to China Aviation Oil (Singapore) Corp’,’ Singapore police said to his website.
The document was then allegedly used to download more than $56 million in advertising financing from a monetary institution, he added. He did not specify when the alleged crime occurred.
If convicted, Lim faces up to 10 years and a fine. Police added that investigations are underway into other alleged lim crimes.
Lim cannot be contacted without delay through Reuters to make comments. Lim’s family circle legal counsel, Davinder Singh Chambers LLC, did not respond without delay to requests for comments by email.
Lim admitted in a court paper filed earlier this year that ordered the company to disclose heaps of millions of dollars in losses over several years.
Hin Leong is owned by Lim, who is 60, his son Lim Chee Meng, known as Evan Lim, and daughter Lim Huey Ching.
UT Singapore Services Pte Ltd, which is owned by oil workshop provider Universal Terminal, did not respond to a request for comments by email.
Attorney General Chambers did not respond to requests for comments by email. The OAC declined to comment. (Report through Jessica Jaganathan Additional report through Roslan Khasawneh, Chen Aizhu, Seng Li Peng and Koustav Samanta edited by Florence Tan and Frances Kerry)
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