Singapore's anti-graft body has announced the arrest of Singapore's Transport Minister and a billionaire hotel tycoon in connection with a high-profile corruption investigation Reuters has reported.
The arrest of Transport Minister S. Iswaran took place on July 11, 2023, and he was subsequently released on bail. The Corrupt Practices Investigation Bureau (CPIB) confirmed the arrest in a statement sent late on Friday. Hotel tycoon Ong Beng Seng, known for his wealth, was also arrested on the same day and later released on bail as part of the ongoing probe.
The investigation has attracted significant attention in Singapore, a country renowned for its low corruption levels. The CPIB has not revealed specific details about the investigation, but it has expanded to include Ong Beng Seng after his connection to the case came to light. Ong Beng Seng is the managing director of Hotel Properties Limited (HPL), a company that owns a portfolio of luxury hotels and resorts across Asia and the Pacific.
In a filing with the Singapore Exchange, Hotel Properties Limited disclosed that Ong Beng Seng received a "notice of arrest" from the CPIB and has since posted bail. While individuals under arrest typically have their passports impounded, Ong Beng Seng was granted permission to leave Singapore on a case-by-case basis, as confirmed by the CPIB.
However, his bail amount was increased to $76,000, and he is required to report to the CPIB and surrender his passport upon returning to Singapore.
Ong Beng Seng, a Malaysian citizen who holds Singapore permanent residency, is credited with playing a role in bringing the Formula One Grand Prix to Singapore in 2008. His private company, Singapore GP, and the Singapore Tourism Board recently renewed their contract to host the F1 race until 2028.
Prime Minister Lee Hsien Loong ordered Transport Minister S. Iswaran to take leave earlier in the week, following the CPIB's statement that he was "currently assisting" in the ongoing investigation. The prime minister stated that the CPIB had sought his approval for a formal investigation, which would involve interviewing Iswaran and other individuals.
The corruption probe involving the Transport Minister and the billionaire hotel tycoon has drawn significant attention and scrutiny within Singapore, known for its stringent anti-corruption measures and reputation as one of the least corrupt countries globally.
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