S’pore businessman investigated for over 150 potential offences in $72m embezzlement case

A businessman allegedly behind one of the country’s biggest corporate scandals will be remanded for another week for further investigations by the Corrupt Practices Investigation Bureau (CPIB).

Ng Teck Lee, 58, and his wife Thor Chwee Hwa, 55, will return to court on Dec 18. They are being held in Changi Prison.

The pair fled Singapore in 2005 after the authorities launched a probe into his alleged fraud and embezzlement at recycling firm Citiraya Industries.

At the time, he was its chief executive officer.

On Dec 11, the pair appeared in court via video-link.

Prosecutors said they will need to be in remand as investigations of more than 150 possible offences linked to Ng continue.

CPIB is also investigating further potential offences under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act for Thor, in relation to Ng’s offences.

He currently faces one count of criminal breach of trust (CBT), and one count under the Prevention of Corruption Act for allegedly giving $20,000 in bribes to an employee of Advanced Micro Devices to ensure chips that were delivered to Citiraya from the US-based firm were not completely crushed.

Thor has been charged with one count of dealing with the benefits of criminal conduct.

They are represented by Mr Aristotle Emmanuel Eng Zhen Yang from Andre Jumabhoy LLC.

At the Dec 11 mention, the court denied the lawyer’s request to speak to the pair. Prosecutors said investigations are at an early stage.

Ng and Thor will return to court on Dec 18.

In January 2005, they fled from Singapore as the authorities looked into their activities.

After some 19 years on the run, they were arrested by the Malaysian Anti-Corruption Commission in Johor Bahru on Dec 3, 2024.

They were handed over to CPIB that day.

Ng’s CBT charge involves allegations that he dishonestly misappropriated electronic scrap weighing more than 6,700kg when he got his employees to repackage and export it, instead of crushing it for precious metals.

Court documents did not disclose how much it was worth.

The scrap purportedly came from five companies: Texas Instruments, Infineon Technologies Asia Pacific, ChipPac Malaysia, Singapore Technologies Microelectronics and RF Micro Devices (Beijing) Co.

The Straits Times reported in 2008 that investigations at the time revealed he purportedly made more than US$51 million, which was worth around $72 million at the time, from his schemes.

ST understands the pair evaded the authorities by assuming different identities while on the run.

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 in 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.

The case remains the largest seizure of assets made on record by CPIB against a single person.

Source: Straits Times © SPH Media Limited. Permission required for reproduction.

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