What is the maximum prison term sought for OK Lim?

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OK Lim Faces Maximum 20-Year Prison Sentence in Fraud Case

The prosecution is seeking a maximum prison sentence of 20 years for Lim Oon Kuin, also known as OK Lim, the founder of the now-defunct oil trading company Hin Leong Trading. Sentencing is scheduled for November 18, following his conviction on charges of cheating and forgery related to a US$111.6 million fraud case.
Sentencing Date Set for November 18

Lim Oon Kuin, the 82-year-old founder of Hin Leong Trading, is set to be sentenced on November 18. This follows his conviction in May on two counts of cheating and one count of instigating forgery. These charges stem from a scheme to deceive HSBC into disbursing US$111.6 million to his company.
Prosecution Seeks 20-Year Imprisonment

Deputy Chief Prosecutor Christopher Ong has called for a total of 20 years' imprisonment for OK Lim. Prosecutors argued that Lim's fraudulent actions had significant implications beyond the financial losses incurred by HSBC, impacting Singapore's standing as a major oil trading hub and affecting the delivery of financial services within the nation.
Convicted of Cheating and Forgery

Lim was found guilty of deceiving HSBC through fabricated contracts with entities like China Aviation Oil (Singapore) and Unipec Singapore. By submitting forged documents based on these non-existent transactions, he successfully secured financing from HSBC. The court determined that these transactions were entirely fictitious and orchestrated by Lim.
US$111.6 Million Fraud Led to Company Collapse

The fraud involved an attempt to obtain US$111.6 million from HSBC, of which US$85 million remains outstanding. These fraudulent activities contributed directly to the downfall of Hin Leong Trading, a company that was once among Asia's largest oil traders. Prosecutors highlighted that the damage was reputational for Singapore, though actual physical harm was not sustained.

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What is the maximum prison term sought for OK Lim?

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