A former Singapore business executive who allegedly evaded authorities for nearly two decades has now been slapped with 38 additional charges linked to a massive S$72 million embezzlement case.
The accused, Ng Teck Lee, previously served as the chief executive officer of Citiraya Industries, an electronic waste recycling company involved in extracting precious metals from discarded electronics. The company was later renamed Centillion Environment & Recycling Ltd.
According to a joint statement released by the Corrupt Practices Investigation Bureau and the Singapore Police Force, the 59-year-old now faces a wide range of offences including cheating, corruption, theft, criminal breach of trust, and money laundering.
Authorities alleged that between 2003 and 2004, Ng orchestrated an illegal scheme involving unprocessed electronic scrap and computer chips. Instead of recycling the materials as intended, he allegedly sold them overseas for profit.
Investigators claimed the operation generated more than US$51 million, which converts to roughly S$72 million.
Couple Allegedly Fled Singapore Before Facing Charges
The case first surfaced in the mid-2000s, but Ng and his wife, Thor Chwee Hwa, reportedly fled Singapore before prosecution proceedings could begin.
Authorities said the couple initially escaped to China, where they allegedly assumed fake Indonesian identities. They later relocated to Malaysia under the Malaysia My Second Home programme, allegedly using the residential address of Thor’s brother.
The pair remained out of reach for almost 20 years before Malaysian authorities arrested them in Johor Bahru in December 2024. They were subsequently extradited back to Singapore.
Thor had separately faced charges related to concealing criminal proceeds connected to the alleged embezzlement operation.
Court documents cited by local media reportedly stated that she opened a bank account used to receive more than US$1.1 million in illicit funds.
Earlier this month, Thor was sentenced to one year and 10 months’ jail after pleading guilty to money laundering-related offences.
Authorities Stress Singapore’s Zero-Tolerance Stance
In their statement, investigators stressed that Singapore adopts a strict stance against white-collar crime, especially offences involving individuals holding positions of trust and authority.
Authorities added that fraud and corruption cases of this scale could damage public confidence in Singapore’s corporate environment and undermine the country’s reputation as a trusted global business and financial hub.
The case has also reignited public discussion surrounding corporate governance, financial crime compliance, and anti-money laundering controls in Singapore’s business sector.
Ng is scheduled to attend a pre-trial conference on 26 June.
The long-running case remains one of Singapore’s most high-profile corporate fraud investigations involving the electronic waste recycling industry.