In a dramatic turn of events, Ng Teck Lee, a former tycoon involved in a massive embezzlement scheme, was arrested in Malaysia along with his wife, Thor Chwee Hwa, on 3 December 2024. The couple, who had evaded capture for nearly two decades, reportedly misappropriated over US$51 million (approximately S$68 million) from their former company, Citiraya Industries.
The History of the Case
Ng Teck Lee, 58, was the CEO of Citiraya Industries, which specialised in recycling electronic waste for valuable metals. Investigations revealed that instead of processing the scrap materials, Ng conspired to sell them overseas, pocketing millions in the process.
Allegations first surfaced in December 2004 when a US-based chip, meant for destruction, was found in Taiwan. Following this discovery, the Corrupt Practices Investigation Bureau (CPIB) began an investigation that led to Ng and his wife fleeing Singapore in January 2005.
Details of the Arrest
- Ng and Thor were apprehended by the Malaysian Anti-Corruption Commission (MACC).
- They were quickly handed over to the CPIB, signifying strong collaboration between Singapore and Malaysian authorities.
According to Vincent Lim, the CPIB’s Director of Investigations, the successful capture of the fugitives reflects the long-standing ties between the CPIB and MACC, asserting that “there is zero tolerance and no safe haven for those who choose to break our laws.”
Charges Filed
The couple is expected to face multiple charges. Ng is charged with criminal breach of trust related to the mishandling of electronic scrap, while Thor is charged under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act for allegedly facilitating her husband’s criminal activities.
Authorities stated that around 89 tonnes of electronic scrap were misappropriated, with Ng allegedly distributing bribes amounting to nearly S$2 million to various individuals involved in the scheme. Notably, 12 co-conspirators have already served jail time for their roles in the operation.
Asset Seizure and Future Endeavours
In 2011, the High Court ordered the seizure of S$23 million worth of assets from Ng, marking the largest asset seizure in CPIB history against an individual. These assets included properties in prestigious locations such as Binjai Park and Paya Lebar, as well as other financial holdings.
This arrest brings closure to a long-standing investigation, as both Ng and Thor are now set to face justice in Singapore.