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Neo Kian Siong, 61, is accused of accepting bribes amounting to S$293,000 from several company directors and a sales engineer, in exchange for helping the companies further their business interests with Keppel Shipyard.
In addition, Neo was charged with 270 counts of converting about S$933,600 in criminal proceeds into various assets. He allegedly put the money into a housing loan, insurance premiums, shares, unit trusts and time deposits.
Another S$119,800 in criminal proceeds was put into various bank accounts.
CPIB said it takes a serious view of any corrupt practices and will not hesitate to take action against any party involved in such acts.
“Accepting monies or gifts that were given with the intention to gain an unfair business advantage is unethical and can constitute an act of corruption,” it added.
In an emailed statement on Tuesday, Keppel Shipyard confirmed that Neo was dismissed from the company in early 2016.
“We have extended our full cooperation to the authorities, and are unable to comment further as the court proceedings are ongoing,” a spokesperson from Keppel Shipyard said.
Neo’s case will be heard again on Nov 7.