The criminal trial of the 81-year-old insolvent Hin Leong founder Lim Oon Kuin, better known as O K Lim, got underway in Singapore yesterday. The former oil trader faces 130 charges involving $2.7bn in alleged fraudulent loans disbursed.
Lim pleaded not guilty and the case is set to run through to June at which point other court proceedings are scheduled to start against Hin Leong.
The demise of Hin Leong in 2020 was one of the largest corporate collapses in Singapore’s history and resulted in a huge fleet sell off of subsidiary Ocean Tankers.
