SINGAPORE: A tycoon allegedly linked to an embezzlement case involving over US$51 million, who evaded capture for 19 years, was charged with one count of criminal breach of trust.
On Wednesday (Dec 4), Ng Teck Lee (pic), 58, and his wife Thor Chwee Hwa, 55, appeared in a district court via video-link from Central Police Division.
They had fled Singapore in 2005 and were arrested by the Malaysian Anti-Corruption Commission (MACC) in Johor Baru on Dec 3, 2024.
The couple were handed over to Singapore’s Corrupt Practices Investigation Bureau (CPIB) that day.
Ng Teck Lee, who was the CEO of then listed recycling firm Citiraya Industries, and his wife Thor Chwee Hwa being handed over to CPIB officers on Dec 3. - CPIB
Ng was the chief executive and president of then listed recycling firm Citiraya Industries at the time of the alleged offences.
On Dec 4, Thor was charged with one count of dealing with the benefits of criminal conduct.
The Straits Times understands they may be handed more charges in the future.
Citiraya Industries recycled and recovered precious metals from electronic scrap, such as used computer chips.
But instead of crushing items to recover precious metals from the scrap, Ng purportedly sent the products overseas to be sold.
The Straits Times reported in 2008 that he had been accused of making more than US$51 million, which was worth around $72 million at the time, from his alleged schemes.
In 2011, an order was made to seize some $23 million worth of assets from Ng, including those held in his wife’s name.
The assets included money from various bank accounts, insurance policies held by the couple, shareholdings in various companies, and proceeds from the sale of his good class bungalow in Binjai Park and a 7,300 sq ft detached house in Paya Lebar.
This remains the largest seizure of assets made on record by CPIB against a single person.
In an earlier statement, the CPIB said the couple left Singapore in 2005 when the agency started looking into the case.
Vincent Lim, CPIB’s director of investigations, had said: “The successful arrest of the two Singaporean fugitives involved in this significant corruption case after almost two decades attests to the longstanding ties and close cooperation between CPIB and MACC.”
An immigration stop list, a police gazette, warrants for arrest and Interpol Red Notices were issued for Ng’s arrest.
A Red Notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender or similar legal action.
Said Lim: “There is zero tolerance and no safe haven for those who choose to break our laws by engaging in corrupt or criminal activities.
“CPIB will spare no effort to track them down wherever they may hide and bring them to face justice in Singapore.”
The couple’s case has been adjourned to Dec 11. - The Straits Times/ANN
