Singapore F1 tycoon pleads guilty in rare corruption case, sentencing set for August

Singapore-based Malaysian billionaire Ong Beng Seng, known for playing a central role in bringing the Formula One Grand Prix to Singapore, has pleaded guilty to a charge of abetting the obstruction of justice in a high-profile graft case that also led to the imprisonment of a former Cabinet minister.

Ong, 79, entered his guilty plea on 29 July from a glass-encased dock at a district court in central Singapore. His admission marks another key moment in the rare political corruption scandal that rocked the city-state last year and saw former transport minister S. Iswaran jailed for accepting illegal gifts and obstructing investigations.

The billionaire hotelier and property magnate had been charged in October 2023 for his involvement in helping Iswaran conceal information during a graft probe. The charges were linked to a series of lavish benefits Ong allegedly gave to the former minister, including private jet travel, business class flights, a luxury hotel stay, and tickets to the 2017 Formula One Singapore Grand Prix, all while Iswaran was still serving in his official capacity.

Prosecutors are recommending a two-month jail sentence for Ong, who agreed to plead guilty. However, they also acknowledged that the court may consider “judicial mercy,” potentially lowering the punishment further.

The tycoon’s legal team appealed for leniency, citing his age and deteriorating health. Defence lawyer Cavinder Bull urged the court to impose a “stiff fine” in place of incarceration, arguing that Ong suffers from several severe medical conditions, including an incurable form of cancer.

“The risks to Mr Ong's life increase dramatically in prison,” Bull said during the hearing. “This man is living on the edge.”

Ong is the owner of Hotel Properties Limited and holds the rights to the Singapore Grand Prix. He and Iswaran were seen as pivotal figures in launching the city-state’s iconic night race, which made its debut on the Marina Bay street circuit in 2008 and has since become one of the most recognized races in the F1 calendar.

His arrest in July 2023 followed the government’s widening probe into the gifts and favors exchanged between the businessman and the former minister. Ong was released on bail after being taken into custody.

The scandal marked a significant test for Singapore, which has built a global reputation for its strong anti-corruption stance and clean government. The country had not seen a political graft trial of this scale in nearly 50 years.

Iswaran, who admitted to accepting gifts valued at over S$400,000, was sentenced to 12 months in prison in October 2023 and completed his sentence on 6 June this year.

Ong’s sentencing has been scheduled for 15 August. The outcome is being closely watched, both for its implications on public trust and its potential impact on Singapore’s image as a zero-tolerance country when it comes to corruption.