A former executive of a Singapore-based defense contracting firm was sentenced to 63 months in federal prison Friday for his role in defrauding the U.S. Navy of $34 million for ship husbanding services.
Entries in Singapore (63)
The Singapore Commercial Affairs Department and the Monetary Authority of Singapore said Monday they have seized a "large number" of bank accounts linked to a money laundering investigation involving the Malaysia state investment fund 1MDB.
A U.S. Navy Petty Officer First Class was sentenced to 27 months in prison for accepting cash, electronic gadgets, and travel expenses from a Singapore-based defense contractor in exchange for providing classified U.S. Navy information.
A woman who worked for the United States Navy in Singapore was charged in court there Thursday with taking bribes of cash and hotel stays for passing classified information about ship movements to a company that serviced Navy ships in ports across Asia.
I have never found a culture that truly endorses straight-up bribery. There may be no culture which actually teaches that a suitcase full of cash privately given to an official in exchange for a benefit to which the payor is not legally entitled is a good thing, one that we should not deter even if we could.
Along with New York, London, and Hong Kong, Singapore now ranks as one of the world's most important financial centers. And to protect its new-found status, the tiny Southeast Asia country has cracked down hard on money laundering.
Another week, another fresh round of bribery allegations from Brazil.
The chief justice of Singapore's Supreme Court used a recent case to set out new sentencing guidelines for private bribery, especially when it involves services that have a strong nexus to the public welfare.