SINGAPORE, Dec 4 — After almost 20 years on the run, Singaporean businessman Ng Teck Lee, 58, and his wife, Thor Chwee Hwa, 55, were arrested in Malaysia for their involvement in a massive embezzlement case, The Straits Times reports.
The couple fled Singapore in 2005 amid investigations into Ng’s alleged misuse of electronic scrap from his company, Citiraya Industries, defrauding clients of more than US$51 million (RM228 million). As CEO of Citiraya, Ng is accused of orchestrating a scheme to divert shipments of electronic scrap, selling the materials as new products via syndicates in Hong Kong and Taiwan.
Investigations by the Corrupt Practices Investigation Bureau (CPIB) revealed that Ng misappropriated 89 tonnes of scrap and paid nearly S$2 million in bribes to employees and associates. His wife, Thor, was also implicated in the operation, which came to light in December 2004 when Taiwanese authorities intercepted a chip marked for destruction.
The couple evaded capture for years by assuming false identities, despite extensive efforts by authorities, including warrants, Interpol Red Notices, and asset seizures totaling S$23 million. This marks the largest asset seizure on record against an individual by CPIB.
The couple was eventually apprehended in Johor Baru by the Malaysian Anti-Corruption Commission (MACC) and extradited to Singapore the same day. Ng will face charges of criminal breach of trust, while Thor faces charges under the Corruption, Drug Trafficking, and Other Serious Crimes Act. Both will appear in court today.
CPIB director of investigations Vincent Lim praised the cooperation with MACC, emphasizing that there would be no safe haven for those breaking the law.