Hin Leong founder OK Lim faces another 23 forgery-related charges: prosecutor

Published Tue, Mar 30, 2021 · 12:42 PM

[SINGAPORE] Lim Oon Kuin, the founder of collapsed oil trading firm Hin Leong Trading, is expected to face another 23 charges of forgery-related offences soon, Singapore's prosecution said.

The 23 charges are expected to be tendered on April 8, Deputy Public Prosecutor Navin Naidu told a Singapore court on Monday.

The Singapore Attorney-General's Chambers confirmed the prosecutor's comments.

The Lim family's legal advisers, Davinder Singh Chambers LLC, did not immediately respond to an emailed request for comment.

Last year, Singapore police charged the 78-year-old former oil tycoon, better known as O.K. Lim, with two counts of abetment of forgery for the purpose of cheating.

Owned by O.K. Lim and his children, Hin Leong was set up in 1973 and was once one of Asia's top oil traders. It racked up some US$4 billion in debt after a crash in oil prices last year exposed years of losses and alleged fraud by the Lim family.

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Accounting firm PwC, which was appointed Hin Leong's judicial manager by the court, said in a report last year the company had overstated the value of its assets by at least US$3 billion.

Hin Leong entered court restructuring last year and was wound up in March.

REUTERS

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