Oil tycoon OK Lim sentenced to 17 1/2 years
A “deterrent sentence” was warranted.
Oil Tycoon Lim Oon Kuin, known as "OK Lim," has been sentenced to 17 and a half years in prison for cheating HSBC Holdings Plc and instigating forgery, Bloomberg reported.
According to the report, Judge Toh Han Li said that a “deterrent sentence” was warranted. Lim, 82, faced more than 100 charges, with three leading to his conviction involving $112m in fraud.
Lim’s company, Hin Leong Trading, was once a leading supplier of diesel and shipping fuel in Asia before collapsing in a wave of scandals that also took down Noble Group Ltd. and Agritrade International Pte.