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Disgraced Singapore Oil Tycoon To Be Sentenced For Fraud

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The founder of a failed Singapore oil trading company will be sentenced Monday for cheating banking giant HSBC out of millions of dollars in one of the country’s most serious cases of fraud.

 

Lim Oon Kuin, better known as O.K. Lim, was convicted in May in the case that dented the city-state’s reputation as a top Asian oil trading hub.

 

His firm, Hin Leong Trading, was among Asia’s biggest oil trading companies before its sudden and dramatic collapse in 2020.

 

State Courts Judge Toh Han Li was due to sentence Lim at 2:30pm (0630GMT) Monday.

State prosecutors are seeking a 20-year jail term for the octogenarian businessman, saying “this is one of the most serious cases of trade financing fraud that has ever been prosecuted in Singapore”.

The defence is seeking seven years imprisonment, playing down the harm caused by Lim’s offences and citing his age and poor health.

 

The businessman faced a total of 130 criminal charges involving hundreds of millions of dollars, but prosecutors tried and convicted him on just three — two of cheating HSBC, and a third of encouraging a Hin Leong executive to forge documents.

Prosecutors said he tricked HSBC into disbursing nearly $112 million by telling the bank that his firm had entered into oil sales contracts with two companies.

The transactions were, in fact, “complete fabrications, concocted on the accused’s directions”, prosecutors said, adding that his actions “tarnished Singapore’s hard-earned reputation as Asia’s leading oil trading hub”.

 

– ‘Unprecedented turmoil’ –

 

Lim built Hin Leong from a single delivery truck shortly before Singapore became independent in 1965.

 

It grew into a major supplier of fuel used by ships, and its rise in some ways mirrored Singapore’s growth from a gritty port to an affluent financial hub.

 

The firm played a key role in helping the city-state become the world’s top ship refuelling port, observers say, and it expanded into ship chartering and management with a subsidiary that has a fleet of more than 150 vessels.

 

But it came crashing down in 2020 when the coronavirus pandemic plunged oil markets into unprecedented turmoil, exposing Hin Leong’s financial troubles, and Lim sought court protection from creditors.

 

In a bombshell affidavit seen by AFP in 2020, Lim revealed the oil trader had “in truth… not been making profits in the last few years” — despite having officially reported a healthy balance sheet in 2019.

 

He admitted that the firm he founded after emigrating from China had hidden $800 million in losses over the years, while it also owed almost $4 billion to banks.

Lim took responsibility for ordering the company not to report the losses and confessed it had sold off inventories that were supposed to backstop loans.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AFP

International News

US Wants Justice In The killing Of Pastor Dachomo’s 9 Family Members 

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The United States has condemned the killing of members of the family of Plateau-based cleric, Rev. Ezekiel Dachomo, describing the attack as horrific and urging Nigerian authorities to ensure those responsible are brought to justice.

 

In a statement shared on X on Thursday, the US Department of State’s Bureau of African Affairs expressed condolences to the victims’ families and called for stronger measures to prevent further attacks on vulnerable communities across Nigeria’s Middle Belt.

“The United States strongly condemns the horrific killing of members of Rev. Ezekiel Dachomo’s family in Plateau State, Nigeria. The continued violence targeting Christian communities and other vulnerable populations in Nigeria’s Middle Belt is deeply alarming,” the bureau said

The US said it had already engaged Nigerian officials on the worsening security situation, stressing that urgent action was needed to curb recurring attacks and hold perpetrators accountable.

“As I discussed last week with Nigerian officials, we must do more to prevent violent acts. The perpetrators must be held accountable, and urgent action is needed to strengthen security and protect Christians and other vulnerable communities,” the statement added.

The bureau reaffirmed Washington’s commitment to working with the Nigerian government to combat terrorism and violent extremism, stressing that Christians and other Nigerians should be able to practise their faith without fear of violence.

The statement followed the July 12 attack on Kum community in Riyom Local Government Area of Plateau State, where nine members of Rev. Dachomo’s extended family, including a two-month-old baby, were killed.

According to the cleric, the attackers, believed to be armed Fulani militias, asked for him by name before opening fire on his relatives.

Dachomo, who serves as Regional Chairman of the Church of Christ in Nations (COCIN) in Barkin Ladi Local Government Area, said his family had repeatedly been targeted because of his outspoken criticism of the violence in Plateau State.

He recalled that his grandmother and an uncle were also killed in previous attacks, adding that days after burying his relatives, he received a written death threat from the same group, warning that he would be their next target.

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Nigeria Missing As Saudi Arabia Names African Countries Eligible For eVisa

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Saudi Arabia has updated its tourist eVisa programme for 2026, limiting eligibility in Africa to only three countries as part of its list of 66 nations whose citizens can apply through the Kingdom’s online visa platform.

 

The move leaves most African countries, including Nigeria, outside the simplified entry scheme.

The electronic visa allows eligible travellers to visit Saudi Arabia for tourism, leisure activities, family visits and Umrah, excluding the annual Hajj pilgrimage. Applications are completed online, eliminating the need for embassy visits and lengthy visa processing.

Saudi authorities said the eVisa forms part of ongoing efforts to expand tourism, attract international visitors and simplify travel procedures through a fully digital application system. The visa is available only to citizens of approved countries and territories listed on the Kingdom’s official tourism portal.

Below is the list of African countries eligible for Saudi Arabia’s eVisa.

1. Mauritius

2. Seychelles

3. South Africa

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South Africa Says Over 53,000 Deported In Migration Campaign

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The South African government says more than 53,000 foreign nationals have been deported or repatriated since launching a “migration management” campaign five weeks ago.

Most were from Malawi, Zimbabwe, and Mozambique, officials say, and the number is likely to rise as repatriations and deportations continue.

South Africa is carrying out one of its biggest crackdowns on undocumented migrants in years, following weeks of anti-immigration protests that have seen violence, intimidation and looting.

Protesters have been demanding tighter border controls and mass deportations, accusing migrants of contributing to high unemployment, rising crime rates and collapse of public services.

The UN has warned against using migrants as scapegoats for South Africa’s socioeconomic challenges.

Anti-migrant activists have threatened to stage weekly protests to pressure the government until their demands are met, and there are fears the protests could turn violent.

The demonstrators had set an “unofficial deadline” of 30 June for all undocumented migrants to leave the country, which has seen many foreigners leave to escape violence and intimidation.

Several countries, including Ghana, Nigeria, Uganda and Kenya, have flown their citizens home in recent weeks.

Justice and Constitutional Development Minister Mmamoloko Kubayi announced on Sunday that 53,499 foreign nationals have been processed for deportation and repatriation, “which is dominated by the Malawians, followed by Zimbabweans and Mozambicans”.

“We are striving to achieve an orderly and regular migration which is mindful and sensitive to the concerns raised by our people, while observing human rights and dignity of all people in our country, irrespective of their citizenship and immigration status,” Kubayi told a news conference in Pretoria.

She said the repatriation and deportation process has helped them catch people who were wanted by the police for alleged criminal activity.

Authorities will continue to enforce its immigration laws, she added, but warned that protesters should not conduct unauthorised searches of homes and businesses that are suspected of sheltering undocumented migrants.

South Africa’s President Cyril Ramaphosa has acknowledged public concerns about immigration but has condemned attacks against migrants, warning citizens against taking the law into their own hands.

South Africa is the continent’s wealthiest nation and has long attracted migrants searching for better economic opportunities, some of whom enter the country illegally.

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