Singapore Oil King Defrauds Giant Bank

  

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By:

Team of Hukumindo

Previously, the www.hukumindo.com platform has talk about "Because of Criticizing Animal Care Centers, An Irish Tourist Arrested In Dubai", "TEOFL Requirements for Civil Servant Candidate Tests Challenged to the Indonesia Constitutional Court", you may read also "A Wife in India Asked For a Divorce Because Her Husband Rarely Bathed" and on this occasion we will discuss about 'Singapore Oil King Defrauds Giant Bank'.

The founder of a Singapore oil trading company, Lim Oon Kuin, faced charges. Lim Oon Kuin was charged with defrauding HSBC bank out of millions of dollars. Lim Oon Kuin has been involved in the law since last May. He is considered to have damaged Singapore's reputation as a leading oil trading center in Asia. He owned a company called Hin Leong Trading, the largest oil trading company in Asia, before it collapsed in 2020. District Court Judge Toh Han Li is scheduled to sentence Lim today. Prosecutors demanded that Lim be sentenced to 20 years in prison.[1]

"This is one of the most serious cases of trade finance fraud ever prosecuted in Singapore," said the Public Prosecutor. Lim faced a total of 130 criminal charges involving hundreds of millions of dollars, but prosecutors tried and convicted him on only three counts. The second was charged with defrauding banking giant HSBC and the third for encouraging a Hin Leong executive to falsify documents. Prosecutors also said he tricked HSBC into disbursing almost US$ 112 million or the equivalent of IDR 1.7 trillion (exchange rate Rp. 15,850). The defendant told the bank that his company had signed oil sales contracts with two companies.[2]

"This transaction was actually a fabrication, made at the behest of the defendant. This seriously tarnishes Singapore's hard-earned reputation as a leading oil trading center in Asia," emphasized the prosecutor. As an additional information, Lim is now 83 years old. He founded the company in 1965. The company played a key role in helping Singapore become a leading ship refueling port in the world. However, this collapsed in 2020 during the Covid-19 pandemic. The pandemic plunged the oil market into unprecedented chaos.[3] And if you have any legal issue in Indonesia territory, contact us for business inquiry, feel free in 24 hour, we will be glad to assist you. 

*) For further information please contact:

Mahmud Kusuma Advocate

Law Office

Jakarta - Indonesia.

E-mail: mahmudkusuma22@gmail.com

________________

References:

1. "Raja Minyak Singapura Tipu Bank Raksasa, Rugikan Rp 1,7 Triliun", finance.detik.com, Muhamad Aghasy Putra Hazli, 18 November 2024, Diakses pada tanggal 14 Desember 2024, Link: https://finance.detik.com/berita-ekonomi-bisnis/d-7644644/raja-minyak-singapura-tipu-bank-raksasa-rugikan-rp-1-7-triliun

2. Ibid.

3. Ibid.

Because of Criticizing Animal Care Centers, An Irish Tourist Arrested In Dubai

  

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By:

Team of Hukumindo

Previously, the www.hukumindo.com platform has talk about "TEOFL Requirements for Civil Servant Candidate Tests Challenged to the Indonesia Constitutional Court", "Massachusetts Court Jurisprudence: Wedding Ring Must Be Returned If Marriage is Void", you may read also "Amazing, Public Road Transformed Into Garage" and on this occasion we will discuss about 'Because of Criticizing Animal Care Centers, An Irish Tourist Arrested In Dubai'.

An Irish tourist didn't expect his holiday to end in disaster. It all started with online criticism of dog grooming companies. Craig Ballentine (33) worked as a dog groomer in Dubai for six months. She was having difficulty at work and left a negative online review about the treatment center and its experience. He then went on holiday to Abu Dhabi. However, when he arrived there, he was arrested by the authorities. A Detained in Dubai campaign group said that Ballentine faced prison time due to the UAE's cybercrime laws. Yes, the practice of online criticism is a cyber crime in the UAE.[1]

"Craig has been told by local lawyers that there is virtually no chance of the case against him being dropped," said Radha Stirling, a member of the organization. "The recently enacted cybercrime law in the UAE is a nightmare for foreigners. It is enough for a whistleblower to simply tell the police that someone posted something offensive or abusive," he said. Stirling said that Ballentine's parents were so worried that she didn't dare to give the news. Stirling even asked Northern Ireland's First Minister Michelle O'Neill to send a statement on his behalf. "Craig needs to go home and get to work. It's appalling that the authorities would allow such a frivolous crime report to ensnare visitors in the system," he said.[2]

"We have contacted Craig's local representative, Michelle O'Neill, to ask her to make a diplomatic statement to the UAE ambassador and the FCDO." Previously, the same case happened to Tori Towey. He was finally free after receiving help from O'Neill. "We hope he can help in the same way Ireland helped Tori Towey come home," he concluded.[3] And if you have any legal issue in Indonesia territory, contact us for business inquiry, feel free in 24 hour, we will be glad to assist you. 

*) For further information please contact:

Mahmud Kusuma Advocate

Law Office

Jakarta - Indonesia.

E-mail: mahmudkusuma22@gmail.com

________________

References:

1. "Jangan Coba-coba Beri Kritik di Dubai, Turis Pria Ini Jadi Korbannya", travel.detik.com, Bonauli, Jumat, 15 Nov 2024, Diakses pada tanggal 30 November 2024, Link: https://travel.detik.com/travel-news/d-7640907/jangan-coba-coba-beri-kritik-di-dubai-turis-pria-ini-jadi-korbannya#goog_rewarded

2. Ibid.

3. Ibid.