A former senior executive of shipbuilder Singapore Technologies Marine (ST Marine) was fined SGD210,000 (USD156,000) for falsifying documents to cover up alleged corrupt payments.
Patrick Lee Swee Ching, who was the company’s group financial controller from 2004-07, had been charged with 38 counts of document falsification by the court on 10 June. He had pleaded guilty to the charges.
The court documents revealed that Lee had created false entries for petty cash claims for entertainment expenses amounting to more than SGD126,156. The bogus petty cash claims were used to bribe ST Marine’s customers in return for ship-repair contracts.
Aside from Lee, two other senior executives from ST Marine were also charged for corruption on 1 July, namely former chief operating officer Han Yew Kwang and former president of commercial business Tan Mong Seng.
Han faces eight counts of corruptly giving gratification of around SGD790,772 to agents of ST Marine’s customers, while Tan faces one count of engaging in a conspiracy to corruptly give gratification of about SGD43,721 to an agent of South Korea-based engineering company.
Han and Tan face up to five years’ jail, a SGD100,000 fine, or both for each charge. They join five other senior executives previously charged for various offences related to granting ship-repair contracts.
This post was sourced from IHS Maritime 360: View the original article here.