He declined to comment on the charges. If convicted of corruption, Iswaran could be fined up to 100,000 Singapore dollars ($113,000), imprisoned for up to seven years, or both.
The minister’s role in the trade and transport sector intersects with that of the real estate tycoon, who is known for helping bring the Formula 1 Grand Prix to Singapore, so Mr Iswaran and Mr Ong would naturally have known each other over the years. Mr Iswaran has championed Singapore’s F1 night race for many years in various capacities.
Lee’s anti-corruption bureau announced in early January that it had completed a months-long investigation into the incident, but did not say at the time what kind of wrongdoing had been involved. Mr Lee had instructed Mr Iswaran to take leave until the investigation was completed.
Mr. Iswaran was also banned from public offices and government buildings. His salary has been cut to S$8,500 a month, an 82% cut from the starting salary of S$46,750 in Singapore, where government leaders are paid the highest in the world, to avoid corruption.
The corruption scandal is one of a series of controversies that have shocked the PAP, with two MPs unexpectedly resigning over the incident. In September, former Prime Minister Goh Chok Tong’s son was among four people charged with false trade crimes.
bloomberg