Meanwhile, in Singapore.
The sentencing took into account mitigating factors outlined by Lim’s lawyers, namely that she didn’t do it for personal greed and she wasn’t the mastermind, District Judge Kow Keng Siong said Tuesday. She pleaded guilty in December.
The biggest fallout is Hin Leong Trading Pte that spectacularly collapsed in 2020 around the same time as Agritrade, owing banks about $3.5 billion. Lim deceived 16 financial institutions into believing that financial statements for Agritrade and its units were audited, a fact which she knew to be false, according to the charge sheets. She also instructed her subordinate to insert a copy of the auditor’s signature into a document that falsely purported to be the audited statements.
Agritrade defaulted on these loans and the total loss suffered by the financial institutions came to $469.1 million.
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