Ong Beng Seng, president and promoter of the Singapore Grand Prix, has received an arrest notice as part of an investigation into corruption involving the Minister of Transport, S. Iswaran. The 79-year-old Malaysian, who ranks among the world’s richest entrepreneurs (with an estimated net worth of 1.75 billion), played a key role in bringing the lion city’s grand prix to the calendar in 2008 after striking a five-year deal with former Formula 1 boss Bernie Ecclestone.
Ong Beng Seng in Legal Trouble with Local Justice: What Are Now the Implications for the Singapore GP?
As just mentioned, Ong Beng Seng has received an arrest notice from the local Corrupt Practices Investigation Bureau for an alleged corruption case involving Singapore’s Minister of Transport, S. Iswaran. Both individuals played crucial roles in making Singapore host a Formula 1 grand prix.
The former CEO of Formula 1, in fact, struck a five-year agreement with Singapore Grand Prix Pte Ltd and the Singapore Tourism Board, companies directly managed by the Malaysian entrepreneur.
According to the RacingNews365 website, Singapore’s Prime Minister has instructed Iswaran to take leave during the corruption investigation, although at present, there would be no link to the grand prix.
In a statement from the HPL Board, it is also mentioned that “Ong Beng Seng, CEO of the company, has informed that he has been invited by the Corrupt Practices Investigation Bureau to provide information regarding his interactions with Minister S. Iswaran. No charges have been made against Mr. Ong.”
Show your support for Scuderia Ferrari with official merchandise collection! Click here to enter the F1 online Store and shop securely! And also get your F1 tickets for every race with VIP hospitality and unparalleled insider access. Click here for the best offers to support Charles and Carlos from the track!
“Mr. Ong is fully cooperating with the CPIB and has provided the requested information,” the statement adds. “As this is an ongoing matter, he is presently unable to provide further details. He has committed to providing updates to the Board in the event of any material developments.”
Last year, Formula 1 officially renewed the Singapore Grand Prix for another five seasons. Barring any changes related to the ongoing investigation, the grand prix should continue to take place at least until 2028. This year’s edition, however, will kick off on the weekend of September 17-19.
Source: f1ingenerale
Leave a Reply