The founder of collapsed oil trading firm Hin Leong Trading was convicted by a Singapore court on Friday of cheating global bank HSBC and abetting forgery, local media reported.

The former tycoon Lim Oon Kuin, known as OK Lim, was convicted on three charges, local media said, in a case involving US$111.7 million that was disbursed by the bank in March 2020 as payment for two oil sales contracts that prosecutors said were fabricated.

Lim, 82, who remains out on bail, will return to court for sentencing in October, media outlet CNA reported. (Reuters)