Oil tycoon OK Lim sentenced to 17 1/2 years

A “deterrent sentence” was warranted.

Oil Tycoon Lim Oon Kuin, known as "OK Lim," has been sentenced to 17 and a half years in prison for cheating HSBC Holdings Plc and instigating forgery, Bloomberg reported.

According to the report, Judge Toh Han Li said that a “deterrent sentence” was warranted. Lim, 82, faced more than 100 charges, with three leading to his conviction involving $112m in fraud.

Lim’s company, Hin Leong Trading, was once a leading supplier of diesel and shipping fuel in Asia before collapsing in a wave of scandals that also took down Noble Group Ltd. and Agritrade International Pte.

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