Singapore markets open in 7 hours 57 minutes
  • Straits Times Index

    -6.09 (-0.19%)
  • S&P 500

    +40.81 (+0.80%)
  • Dow

    +90.99 (+0.23%)
  • Nasdaq

    +183.02 (+1.14%)
  • Bitcoin USD

    +960.40 (+1.55%)
  • CMC Crypto 200

    0.00 (0.00%)
  • FTSE 100

    +52.48 (+0.69%)
  • Gold

    +36.90 (+1.80%)
  • Crude Oil

    +1.55 (+1.98%)
  • 10-Yr Bond

    -0.0720 (-1.69%)
  • Nikkei

    +744.63 (+1.90%)
  • Hang Seng

    +78.00 (+0.47%)
  • FTSE Bursa Malaysia

    -13.42 (-0.86%)
  • Jakarta Composite Index

    -4.20 (-0.06%)
  • PSE Index

    -25.12 (-0.36%)

Ex-SIA manager allegedly spent US$111,100 of bribe money to buy Microsoft shares

Image showing a man's hand handing over a stack of money under the table to another, to illustrate a story on an ex-SIA manager being charged for taking bribes.
Ex-SIA manager allegedly spent US$111,100 of bribe money to buy Microsoft shares. (PHOTO: Getty) (Wirat Namkate / EyeEm via Getty Images)

By Tria Dianti

SINGAPORE – Former Singapore Airlines (SIA) manager Lionel Low Jun Jie, 35, was charged on Tuesday (8 November) with corruption and money laundering after he allegedly gave insider information to an interior design firm who wanted to do business with the airline.

The Straits Times reported that Low allegedly worked together with freelance designer Rex Zhang, 38, to receive S$474,500 from Lin ID Group manager Joseph Ang, 51, for helping his company.

According to court documents, Lin ID Group had participated in a tender for the provision of classroom furniture and canteen renovation within the Singapore Airlines Training Centre. The design company also submitted a bid to renovate the design laboratory located at Airline House, SIA's head office.

After receiving the bribe, Low then used US$111,100 (about S$156,000) of the total money to buy Microsoft shares in April and June 2021. He then transferred the shares to another trading account and withdrew about S$25,600.

Low, whose bail has been set at S$10,000, will return to court on 12 December.

Replying to queries by the Straits Times, an SIA spokesperson said that Low was no longer employed by the airline and declined further comment.

On Tuesday, Zhang and Ang were also charged with under the Prevention of Corruption Act. Ang also faces one count of cheating.

Follow us on Facebook, Instagram, TikTok and Twitter.

Yahoo Singapore Telegram
Yahoo Singapore Telegram