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Originally published by Capital Business
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business
August 15, 2025
3d ago

F1 tycoon fined $23,000 in Singapore gift scandal

F1 tycoon fined $23,000 in Singapore gift scandal

AUG 15 - A Singapore-based billionaire has been fined $23,400 (S$30,000; £17,251) after he had earlier pleaded guilty to a charge connected to a gift Kenya breaking news | Kenya news today |..

✨ Key Highlights

Singaporean hotel tycoon Ong Beng Seng has been fined S$30,000 ($23,400) after pleading guilty to charges related to obstructing justice in a gift scandal involving former transport minister Subramaniam Iswaran. Ong, who helped bring the Formula 1 Grand Prix to Singapore, was granted "judicial mercy" due to his poor health.

  • Ong Beng Seng was fined S$30,000 ($23,400) for abetting the obstruction of justice.
  • The hotel tycoon helped former transport minister Subramaniam Iswaran cover up evidence during a corruption investigation.
  • Iswaran allegedly received over S$403,000 ($311,882) worth of gifts from Ong, including flight trips, hotel stays, and Grand Prix tickets.

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F1 tycoon fined $23,000 in Singapore gift scandal