of republic of singapore We have long prided ourselves on being one of the world’s rarest anti-corruption Shelter — But things are now changing. F1 Grand Prix In city-states. Transport Minister S. Iswaran resigned over corruption charges. CNN coveragePart of the corruption includes allegations that he accepted gifts from Malaysian billionaire Ong Ben Seng, a hotel magnate who helped bring F1 to Singapore and is the Grand Prix’s sole shareholder. right now, singapore insists The upcoming September 2024 race will go ahead as scheduled, but it’s time to dig into this story.
Let’s rewind to establish a little context. To discourage corruption and the temptation to take bribes, Singapore pays its government ministers quite handsomely – on average more than $800,000 a year. CNN coverage. The last corruption scandal involving a minister dates back to 1986 (and also involved a man who wanted to be a minister) ban chewing gum; he died before being indicted), a critically acclaimed 2022 film Corruption Perception Indexranks 180 countries based on perceived levels of public sector corruption. Singapore secured fifth place, tied with Sweden. In contrast, the United States ranks below her at 24th place.
That makes this scandal even more shocking. According to CNN, Iswaran received gifts worth about $119,000 in bribes from hotel tycoon Ong Ben Seng. This included tickets to an F1 race in Singapore and other lavish “gifts”. Iswaran was charged with 27 charges, including corruption and obstruction of justice, and he resigned on January 18, despite pleading not guilty.
Iswaran said in a statement to CNN: “I have resigned as a cabinet minister, as a member of Parliament, and as a member of the People’s Action Party because I believe it was the right thing to do.” “The last few months have been the most difficult for my family and for me. I am innocent and will now focus on clearing my name.”
One of the big issues here is that Mr. Iswaran was an advisor to Mr. Ong, who organized the Grand Prix.both were arrested July 2023 He was later released on bail. Despite this, Mr Ong suffered no harm. Current legal measures; Singapore plans to proceed with charges based on the outcome of Mr. Iswaran’s trial. He had previously been cautioned by various courts for failing to disclose discounts he had given to politicians, company directors and his close friends and family.
Considering the above, The Grand Prix is scheduled to be held in September, as far as Singapore is concerned. The event is currently contracted to run until 2028, and Singapore’s Ministry of Trade and Industry is now satisfied that the event can be held legally. But this is just one example of the corruption that can occur in and around the world of high-stakes horse racing.