Singapore Billionaire Admits Guilt in Corruption Case

Singapore Billionaire Admits Guilt in Corruption Case

Prosecutors said Ong instructed the Singapore Grand Prix director in May 2023 to retroactively bill Iswaran for a business-class flight from Doha amid an investigation into illicit gifts.

The charge is part of a broader probe into Ong’s alleged offer of private jet travel and luxury accommodation to the minister during his time in office. Ong, 79, founder of Hotel Properties Ltd. and a key figure behind Singapore’s Formula 1 night race, was also charged with offering prohibited gifts to public servants—a charge taken into account for sentencing. He stepped down from his executive role at HPL earlier this year due to advanced cancer. Sentencing is set for August 154.