At one point, the disgraced oil tycoon purportedly owed 23 banks a total of S$5.5 billion. Lim Oon Kuin, 82, who is the founder of collapsed oil trading firm Hin Leong Trading, was sentenced to 17.5 years' jail over a cheating case involving at least S$150 million.

SINGAPORE: Lim Oon Kuin, the elderly founder of collapsed oil trading firm Hin Leong Trading, was on Monday (Nov 18) sentenced to 17-and-a-half yearsin jail in a cheating case inv

Photo by Reuters His firm, Hin Leong Trading, was among Asia's biggest oil trading companies before its sudden and dramatic collapse in 2020.Sentencing him to 17 and a half years in jail, State Courts judge Toh Han Li said he agreed with the prosecution that the offenses had the potential to undermine confidence in Singapore's oil trading industry.

Singapore oil tycoon Lim Oon Kuin has been sentenced to 17 and a half years in jail for cheating HSBC Holdings Plc and instigating forgery in a case that has shaken the city-state’s commodity-trading community and left banks nursing hefty losses.

The founder of a failed Singapore oil trading company was sentenced Monday to nearly 18 years in jail for cheating banking giant HSBC out of millions of dollars in one