Lim Oon Kuin, founder of fabled oil trading company Hin Leong (Pte) Ltd., was charged in court today with abetment of forgery for the purpose of cheating, according to a charge sheet seen by Bloomberg. The forged document stated that Hin Leong had transferred more than a million barrels of gasoil -- or diesel -- to another company, China Aviation Oil (Singapore) Corporation Ltd. The same document was allegedly used to secure over US$56 million in trade financing from a financial institution. Investigations into other offenses allegedly committed by Lim, known to many in the oil industry as OK Lim, are ongoing. Emails to Hin Leong and Xihe, a shipowner linked to the Lim family, went unanswered.

Source: The Standard August 14, 2020 09:27 UTC