82-year old Singapore oil tycoon is sentenced to 17 1/2 years in jail
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Singapore oil tycoon OK Lim has been sentenced to 17.5 years in jail for cheating HSBC and instigating forgery, marking the end of one of Singapore's biggest trading scandals.
November 18, 2024 | 5:30 pm
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HSBC was a victim in the trading scandal involving Singapore oil tycoon OK Lim, who has been sentenced to 17.5 years in jail for cheating the bank.
HSBC was directly cheated by OK Lim, but the sentencing marks the end of the scandal, which may have already been priced in by the market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80