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Hin Leong founder and former oil tycoon OK Lim faces another 23 forgery-related charges

Hin Leong founder and former oil tycoon OK Lim faces another 23 forgery-related charges

File photo of Lim Oon Kuin, founder of Singapore oil trader Hin Leong. (Photo: Reuters/Edgar Su)

SINGAPORE: Lim Oon Kuin, the founder of collapsed oil trading firm Hin Leong Trading, is expected to face another 23 charges of forgery-related offences soon.

The 23 charges are expected to be tendered on Apr 8, Deputy Public Prosecutor Navin Naidu told a court on Monday (Mar 29).

The Attorney-General's Chambers confirmed the prosecutor's comments.

The Lim family's legal advisers, Davinder Singh Chambers, did not immediately respond to an emailed request for comment.

Last year, Singapore police charged the 78-year-old former oil tycoon, better known as OK Lim, with two counts of abetment of forgery for the purpose of cheating.

READ: Founder of homegrown oil trader Hin Leong charged with abetment of forgery for the purpose of cheating

READ: Hin Leong’s financial woes have ‘no serious impact’ on Singapore’s oil trading, bunkering sectors: Agencies

Owned by OK Lim and his children, Hin Leong was set up in 1973 and was once one of Asia's top oil traders. It racked up US$4 billion in debt after a crash in oil prices last year exposed years of losses and alleged fraud by the Lim family.

Accounting firm PwC, which was appointed Hin Leong's judicial manager by the court, said in a report last year the company had overstated the value of its assets by at least US$3 billion.

Hin Leong entered court restructuring last year and was wound up in March. 

Source: Reuters

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