Tycoon Ong Beng Seng Avoids Jail In Singapore Gifting Case Involving Ex-Minister

Forbes

2 days ago

Hotel tycoon Ong Beng Seng has been spared a jail sentence after pleading guilty to abetting a senior Singapore politician in obstructing the course of justice in a rare gifting scandal in the city-state known for its squeaky clean image.
The former managing director of Singapore-listed Hotel Properties was fined S$30,000 ($23,400) for the offence by a judge who cited Ong's severe medical condition and 'judicial mercy' in granting him a reprieve from a prison term. The businessman had been diagnosed with multiple myeloma, a rare type of bone marrow cancer.
'I find that the humanitarian considerations supporting the exercise of judicial mercy ought to prevail in this case,' District Judge Lee Lit Cheng said in court Friday. 'The medical evidence unequivocally shows that a custodial sentence would place the accused's life at substantial risk."
Ong, 79, could have been jailed up to seven years for the offence in addition to the fine. Last week, the Malaysian-born tycoon—who holds the franchise for the Formula One Singapore grand prix—pleaded guilty to abetting former Transport Minister S. Iswaran in obstructing the course of justice, while another charge was taken into consideration.
The charges are related to flights and a hotel stay in Doha that Iswaran had received from Ong during the FIFA World Cup tournament in December 2022 when the ex-lawmaker headed the Singapore Formula One night race steering committee. Iswaran was imprisoned in October last year but was allowed to spend the rest of his 12-month jail sentence at home from February.
With a combined net worth of $1.7 billion, Ong and his wife Christina are among the wealthiest in Singapore. The couple own substantial stakes in Hotel Properties, which has a portfolio of assets across 15 countries including the Four Seasons Hotel in Singapore and resorts in the Maldives, as well as in British handbag maker Mulberry Group.
Ong stepped down as managing director of Hotel Properties in April. The developer said last month it's in talks with potential partners to redevelop three of its adjoining prime properties on Orchard Road, Singapore's main shopping strip.