Source: CPIB
A Singaporean tycoon and his wife were arrested in Malaysia on Tuesday (3 Dec) after evading capture for 19 years in connection with a multimillion-dollar embezzlement case.
Source: CPIB
Ng Teck Lee, 58, was the former CEO and president of Citiraya Industries, a now-defunct recycling company that specialised in recovering precious metals from electronic scrap.
The company’s major clients included semiconductor giants AMD, Intel, and Infineon.
However, Ng allegedly diverted products overseas for resale instead of processing them to recover the metals, which was the company’s original purpose.
Investigations reported by The Straits Times (ST) in 2008 revealed that Ng had illicitly made more than US$51 million (S$69 million) from the scheme.
His wife, Thor Chwee Hwa, 55, was reportedly complicit in the crime.
Source: CPIB
The couple fled Singapore in 2005 when the Corrupt Practices Investigation Bureau (CPIB) launched its investigation.
The couple was finally arrested in Johor Bahru by the Malaysian Anti-Corruption Commission (MACC) and handed over to the CPIB on the same day.
According to ST, they had evaded authorities by assuming false identities while on the run.
Ng faces a charge of criminal breach of trust, while Thor is charged under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act.
Authorities also accused Ng of bribing multiple individuals, leading to 12 people being sentenced to prison terms ranging from eight months to eight years for their involvement.
The couple is set to be formally charged on Wednesday (4 Dec).
Ng allegedly diverted a portion of the electronic scrap by instructing his brother — Citiraya’s general manager at the time — to transport it to his brother-in-law’s warehouse.
In June 2008, a CPIB officer revealed in an affidavit that Ng sold the scrap to syndicates in Taiwan and Hong Kong, where it was repackaged and sold as new products.
Ng coordinated with the company’s chief financial officer to arrange the shipment of the diverted chips to buyers in these regions.
The scheme came to light in December 2004 when a chip from a United States-based client was discovered in Taiwan after a police operation there.
According to the CPIB, Ng misappropriated 62 shipments of electronic scrap between 2003 and 2004.
Authorities also allege that he distributed nearly US$2 million (S$2.7 million) in bribes to his staff and certain employees of his clients.
In 2011, authorities ordered the seizure of assets valued at approximately S$23 million from Ng, including assets registered under his wife’s name.
This remains the largest asset seizure by the CPIB from a single individual.
Vincent Lim, Director of Investigations at the CPIB, expressed gratitude to the MACC for its support in assisting with the case.
He stated: “The successful arrest of the two Singaporean fugitives involved in this significant corruption case after almost two decades attests to the longstanding ties and close cooperation between CPIB and MACC.”
Also read: 15-year-old S’pore student allegedly kidnapped & found in M’sia, suspect arrested
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Featured image adapted from CPIB
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