Ng’s case joins a list of some other spectacular white-collar crime cases in Singapore. Here is a look at some of them:John Soh Chee Wen and Quah Su-Ling were found guilty of market manipulation that led to the October 2013 penny stock crash that wiped $8 billion in market capitalisation from the Singapore Exchange.
On Dec 28, 2022, Soh was sentenced to 36 years’ imprisonment, while Quah was sentenced to 20 years’ jail.Lim Beng Kim, former chief financial officer of commodities trader Agritrade International, defrauded over a dozen banks, causing almost US$500 million in losses. The Shell oil heist involved around 340,000 tonnes of gas oil that was siphoned from the oil major’s Pulau Bukom site in Singapore, in incidents dating back to 2014.
South-east Asia is a hot spot for illicit fuel trading, with its island-dotted waters providing cover for small-scale smuggling of oil products across borders. But the regularity and audacity of the thefts at Shell’s refining facility – some of which took place during working hours – made it stand out.The authorities estimated that Chia Teck Leng lost $62 million feeding his gambling habit.