Disgraced Singapore oil tycoon to be sentenced for fraud
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 countrys most serious cases of fraud. 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.
Posted by Hicham ALAOUI RIZQ on 2024, Nov 18
Introduction
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 countrys most serious cases of fraud. 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.
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