Singapore Minister Iswaran, tycoon Ong arrested, released on bail: CPIB
Singapore (PTI): Singapore's Indian-origin Transport Minister S Iswaran was arrested on Tuesday and released on bail while his passport was impounded, the Corrupt Practices Investigation Bureau has said.
A CPIB spokesperson on Friday said Iswaran was arrested on the same day as Ong Beng Seng, founder and managing director of Hotel Properties Limited, reported The Straits Times.
Ong was also released on bail.
"As part of bail conditions, subjects' passports are impounded. Subjects on bail can, however, make requests to travel overseas. CPIB will assess such requests on a case-by-case basis," the Singapore daily quoted the CPIB spokesperson as saying.
"CPIB assessed and acceded to Ong's request to travel overseas. Ong's bail quantum was also increased to SGD100,000. Upon his return, Ong is required to report to CPIB and surrender his passport to the bureau."
The spokesperson declined to provide further details, citing ongoing investigations.
Iswaran (61), is a senior member of the ruling People's Action Party and has been on a leave of absence from his official duties, was assisting the CPIB with an investigation into a case it had uncovered.
Iswaran's political career spans more than 26 years since he was first elected in 1997 as a Member of Parliament for West Coast GRC.
Before he was appointed to the Cabinet in 2006, he was on several government parliamentary committees and was the deputy speaker of Parliament from September 2004 to June 2006.
He has been Minister for Transport since May 2021 and has been concurrently minister-in-charge of trade relations at the Ministry of Trade and Industry (MTI) since May 2018.
Before his career in politics, Iswaran worked in both the public and private sectors, including at MTI as well as Temasek Holdings.
"No charges have been filed against Ong. He will be traveling from July 14 and will be surrendering his passport to CPIB upon his return to Singapore," Hotel Properties Ltd (HPL) said on Friday.
Ong (77), is a Malaysian based in Singapore and owns the rights to the Singapore Grand Prix and is chairman of race promoter Singapore GP.
Iswaran has been actively involved in the government's engagements with F1, including making appearances at press conferences where announcements about the event's future have been made.
"As this is an ongoing matter, he is unable to provide further details at this point. He has undertaken to provide updates to the board if there are subsequent material developments," Channel News Asia had HPL as saying of Ong's current position in the high-profile case related to a possibility of corruption.
The contract for Singapore to host the Formula 1 Grand Prix for another seven years was signed last year - the fourth renewal and longest extension - bringing the event back to Marina Bay in the central business district after a two-year absence due to the COVID-19 pandemic.
The Formula 1 (F1) Singapore Airlines Singapore Grand Prix 2023 is scheduled for September 15-17.
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ED arrests Sandeepa Virk, 'cosmetologist' for alleged money laundering
New Delhi, Aug 13 (PTI): The Enforcement Directorate said on Wednesday it has arrested a woman, who claims to be an actor and a cosmetologist, under the anti-money laundering law in a case of alleged fraud and misrepresentation.
The agency said the purported links of the woman, Sandeepa Virk, with a Reliance Group executive, Angarai Natarajan Sethuraman (President, Corporate Affairs), are also under its scanner. Sethuraman, in a statement, denied any connection with Virk or any transactions related to her.
Virk was taken into custody under the Prevention of Money Laundering Act (PMLA) on Tuesday after searches were conducted against her and her associates in Delhi and Mumbai over the last two days.
A special court sent her to the ED's custody till August 14, the agency said. The woman claims to be the owner of a skin care products selling website named hyboocare.com, which the ED claimed was a "front" for money laundering.
She and her associates are being probed for allegedly exerting undue influence through "misrepresentation" and "defrauding" individuals by soliciting money under false pretences.
According to an Instagram ID of Virk, she is an actor and entrepreneur and the founder of the said website.
The federal agency said in a statement that the woman was also "in touch with" Sethuraman, former director of erstwhile Reliance Capital Limited.
She was communicating with him regarding "illegal liaisoning", the ED claimed, adding that the searches at Sethuraman's residence "confirmed" these allegations.
"Besides, diversion of funds for personal benefit has also been unearthed during the course of the search action," it said.
The ED alleged that public money worth about Rs 18 crore belonging to Reliance Commercial Finance Limited (RCFL) was disbursed to Sethuraman in 2018 by "flouting" prudent lending norms.
The funds were lent under terms that allowed a deferment of the principal amount as well as the interest, with multiple waivers granted and no due diligence conducted, it said.
The ED claimed that besides this, a home loan of Rs 22 crore was provided by Reliance Capital Limited by "violating" the prudential norms. "A large part of these loans are seen to have been eventually siphoned off and remained unpaid," it alleged.
Sethuraman, in a statement, dismissed the allegations as "baseless". He denied any connection with Virk or any transactions related to her.
Detailing about Virk's web portal, the agency said it purportedly sold FDA-approved beauty products. However, the ED said the products listed on the website have been found to be non-existent and the portal lacks a user registration option and is plagued by persistent payment gateway issues.
A scrutiny of the website uncovered minimal social-media engagement, an inactive WhatsApp contact number and an absence of transparent organisational details, all of which reinforce the finding of "non-genuine" commercial activity, the ED claimed.
"These factors, including limited product range, inflated pricing, false claims of FDA approval and technical inconsistencies, indicate that the website serves as a front for laundering funds," it said.
Another social media-hosted bio data of the woman said she is a certified cosmetologist.
The ED said several "incriminating" documents were seized during the searches and the statement of a man named Farrukh Ali, stated to be an associate of Virk, was recorded.
The money-laundering case stems from an FIR lodged by the Punjab Police.
Sethuraman said that the home loan he received from Reliance Capital was granted following due process and was secured by the property offered as collateral.
