Singapore oil tycoon spends $7,500/week

Last March, Mr. Lim, 79, was accused of forging business books and related documents when Hin Leong Group went bankrupt and was forced to liquidate assets to pay off debts.

The empire collapsed, the Singapore oil tycoon could only spend a maximum of 7,500 USD/week

Lim Oon Kuin, founder of Hin Leong Trading. Photo: Forbes.

Currently, lawyer Davinder Singh and his law firm are representing Mr. Lim. The company has been implicated in a number of high-profile cases in the country, including defamation lawsuits brought by the prime minister and one of Singapore's biggest commodity trading fraud scandals. This law firm declined to comment on matters related to the case of Mr. Lim Oon Kuin's family.

The asset freeze means that Mr. Lim Oon Kuin's family members are not allowed to buy, sell or dispose of their assets, which include real estate in Singapore and Australia, insurance contracts, etc. insurance, company shares as well as membership cards for clubs across the country.

The order also stipulates that before any money is spent, Lim and his two children must notify an attorney representing Hin Leong's liquidator of the source of the money. Currently, PwC's audit experts Goh Thien Phong and Chan Kheng Tek are responsible for the liquidation of this asset. They have appointed lawyer Cavinder Bull and his associates as their legal representatives.

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