SINGAPOREAN businessman Ng Teck Lee, 58, and his wife, Thor Chwee Hwa, 55, were arrested in Malaysia yesterday after 19 years on the run over an embezzlement case involving more than US$51 million, The Straits Times reported today.
The two Singaporeans fled the country in 2005 when the Corrupt Practices Investigation Bureau (CPIB) investigated the case and evaded the authorities by assuming different identities.
Ng, 58, was the chief executive officer and president of then-listed recycling firm Citiraya Industries which was in the business of recycling and recovering precious metals from electronic scrap, such as used computer chips.
Its clients included semiconductor giants like AMD, Intel and Infineon.
But instead of crushing items to recover precious metals from the scrap, Ng allegedly sent the products overseas to be sold.
Ng’s 55-year-old wife was also implicated in the operation, which came to light in December 2004 when Taiwanese authorities intercepted a chip marked for destruction.
In 2008, investigations revealed that Ng had purportedly gained more than US$51 million, which was worth around S$72 million at the time, from his scheme.
According to The Straits Times, Ng and Thor were apprehended in Johor Bahru by the Malaysian Anti-Corruption Commission (MACC) and extradited to Singapore the same day.
The couple is expected to be charged today. - December 4, 2024
