Deals Fuelled By Corruption

PRESS RELEASE BY CPIB
Deals Fuelled By Corruption

 

          Those who abuse their position in the company to manipulate deals for personal gains will face dire consequences.

2        On 9 March 2017, one Chang Peng Hong Clarence, a former Eastern Regional Director for Marine Fuels with BP Singapore Pte Ltd (BP), will be charged for the following offences:

  1. Nineteen counts of corruptly obtaining gratification amounting to USD3.95 million from Koh Seng Lee, the Executive Director of Pacific Prime Trading Pte Ltd (PPT), as an inducement for advancing the business interest of PPT with BP, an offence punishable under Section 6(a) of the Prevention of Corruption Act, Chapter 241.
  2. One count of corruptly agreeing to accept a gratification of S$500,000 from Koh Seng Lee, the Executive Director of PPT, as an inducement for advancing the business interest of PPT with BP, an offence punishable under Section 6(a) of the Prevention of Corruption Act, Chapter 241.
  3. Sixteen counts of transferring S$4,683,961.23, which were benefits of corrupt proceeds, from a Hongkong and Shanghai Banking Corporation Limited (HSBC) account in Hong Kong to a POSB Bank Singapore account and two other HSBC Singapore accounts, an offence under Section 47(1)(b) and punishable under Section 47(6)(a) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, Chapter 65A.
  4. Ten counts of converting property amounting to S$3,967,670.26, which, in whole or in part, were direct or indirect benefits of corrupt proceeds, to acquire three private landed properties and two condominiums, an offence under Section 47(1)(b) and punishable under Section 47(6)(a) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, Chapter 65A.
  5. One count of converting property of S$111,000, which were benefits of corrupt proceeds, to acquire share capital in Mindchamps Preschool @ City Square Pte Ltd, an offence under Section 47(1)(b) and punishable under Section 47(6)(a) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, Chapter 65A.

3          Singapore adopts a zero tolerance approach towards corruption. The Corrupt Practices Investigation Bureau takes a serious view of any corrupt practices and will not hesitate to take action against any party involved in such acts.
 

Chiam Shu Yan
Senior Executive, Corporate Relations
Corrupt Practices Investigation Bureau
DID: 6490 5944
Mobile: 9818 1569

Lee Wei Kit
Manager, Corporate Relations
Corrupt Practices Investigation Bureau
DID: 6490 5938
Mobile: 9818 1569

 

Last updated: 09 Mar 2017