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Grant Money-for-Shares Scheme Uncovered in Singapore, Two Charged

Grant Money-for-Shares Scheme Uncovered in Singapore, Two Charged
Grant Money-for-Shares Scheme Uncovered in Singapore, Two Charged - Image via Artist Impression
  1. Henry Wong from NRF and Lee Tze Boon from Smart Illumination Pte Ltd charged for corruption.
  2. Wong allegedly accepted 30% shareholding in SI as gratification for helping them secure grant funding.
  3. Both face one charge under the Prevention of Corruption Act, can be fined up to S$100,000 or jail up to five years, or both.

Who are these two dudes?

Aiyo, Henry Wong is a Director at National Research Foundation (NRF), and Lee is a director at Smart Illumination Pte Ltd (SI).

Like pizza and chicken rice, these two mix business together, but it not so good for the taste.

So, what happened ah?

In case you dunno, between May and August 2021, Wong allegedly agreed to take shareholding in SI from Lee as reward for helping their business get some sweet-sweet grant money from BETA (Built Environment Technology Alliance).

Eh, what now?

Wah lau eh, now both of them in big trouble.

Wong faces a charge of accepting gratification and Lee offering it.

Our country says “No corruption!”, so if convicted, they can get fined up to 100k, or jailed up to five years, or both.

Jialat!

How come it happened?

NRF was the one who reported to CPIB about this drama.

But remember, these are just allegations.

Until proven guilty, maybe these two just need to find a new hobby, like fishing, instead of mixing business with pleasure, huh?

Actionable & Practical Takeaways

  • Stay out of corruption, duh! It’s like trying to swim in a durian pool – you’re gonna get hurt.
  • Be smart about your business dealings and don’t be greedy.
  • Remember that your reputation is at stake whenever you decide to play with fire. Just don’t do it!

In conclusion, don’t mess with corruption, ok?

It’s like eating tau huay with chili sauce – nothing good can come from it.

Use your brain!

Eh bro, sis, after you read this story, what do YOU think about corruption in our little sunny island?

Drop a comment, let us know!

What do you think?

Written by Patrick Tan

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