SINGAPORE: According to a court hearing on Friday, October 13, the founder of the defunct oil trading company Hin Leong Trading will testify in his own defense. He is charged with fraud and bank fraud in the US$ 111.7 million ( S$ 146.7 million ) event.
Three criminal charges were brought against Lim Oon Kuin, 81, in a district court in April. He was accused of two counts of cheating the Hongkong and Shanghai Banking Corporation ( HSBC ) and one count of encouraging Hin Leong Trading’s contracts executive to fabricate records.
While this test is still ongoing, more than 100 additional charges against Lim have been dropped. Even though the total volume across all costs is some times that, the amount involved in the proceeded costs for test is about US$ 111.7 million.
According to the prosecution’s case, Lim defrauded HSBC into giving Hin Leong the money by giving the impression that the oil buying firm had signed two contracts for the sale of fuel with China Aviation Oil( Singapore ) Corporation and Unipec Singapore.
Later, Hin Leong informed HSBC that it was having trouble with its profitability and would be asking its lenders for a stop agreement.
Later, Lim called HSBC staff for a conference with his two kids Lim Huey Ching and Lim Chee Meng.
The discounting applications for the sales to CAO and Unipec were allegedly sent to HSBC in error due to” miscommunication ,” according to the prosecution.
Following the phone on April 17, 2020, Hin Leong filed for insolvency days in one of the biggest falls of an oil investing company in history.
Soon after, the police launched available studies, leading to Lim’s more than 100 charges.
The prosecutor calls for a suitable time to provide information.
On Friday, Principal District Judge Toh Han Li discovered that the trial had established a circumstance against Lim on all three counts.
He requested Lim’s testimony, claiming that there was sufficient proof to support each of the accusations.
He explained to Lim that he had two options: either give a hear testimony, or decline it, giving him the chance to visit on additional witnesses for testimony.
He emphasized that if he decided not to speak, the jury might draw a negative conclusion.
Lim, who was released on S$ 4 million loan, announced his testimony through a Mandarin representative.
For the defense’s situation, fifteen days have been set aside. Lim is represented by Davinder Singh Chambers attorneys.
Dr. Yeo Seem Huat is the next witness, according to Mr. Navin Thevar, who informed the court that his customer would be one of two.
The defense attorney responded that Lim’s kids wouldn’t be called to testify” at the moment” when the prosecutor questioned them.
He continued by saying that he would be requesting more falls for Lim, who is wheelchair-bound and sick.
Lim will be giving oral testimonial, the attorney added, unless he specifically states otherwise. In that situation, he might testify through conditioned comments.
Lead attorney Christopher Goh responded by stating that he disagreed with the accuser’s use of conditioned claims as evidence in the Criminal Procedure Code.
The trial typically employs this tactic.
If this was the program the defense wanted to take, Mr. Goh said the prosecutors would have to think about it.
According to the defense’s measure, Lim is scheduled to take the walk starting on October 30 and lasting for roughly two to three days.
The High Court is currently hearing a distinct legal case against Lim. In that case, brokers are asking Lim for US$ 3.5 billion to settle the company’s obligations for what they claim to be years of scams.