SINGAPORE - A 62-year-old former senior procurement officer of Keppel Shipyard was brought to court on Tuesday (Sept 26) for 395 charges involving corruption and money laundering.
Neo Kian Siong stands accused of 78 counts of corruptly accepting money from several company directors and a sales engineer, as a reward for advancing their companies' business interests with Keppel Shipyard. The alleged sum amounted to $293,000.
Neo is also said to have converted around $933,600 to numerous forms of assets, in 270 counts of offences.
Court documents said this sum wholly represents benefits from criminal proceeds, and the assets included vehicle deposits and hire purchases, insurance premiums, shares, unit trusts, and foreign currencies.
Neo also faces 47 counts of transferring approximately $119,800 to various bank accounts.
In a statement on Tuesday, a Keppel spokesman said that Neo had been charged with corruption, where "he allegedly provided confidential pricing information in exchange for bribes".
She added that Neo had been dismissed from the company in early 2016.
"We have extended our full cooperation to the authorities, and are unable to comment further as court proceedings are ongoing," she said, adding that all employees are to abide by a code of conduct which prohibits, among other things, bribery and corruption.
She also said the company will not tolerate any employee conduct that is illegal or brings the firm into disrepute.
If found guilty of corrupt transactions with agents, Neo may be fined up to $100,000 and jailed for up to five years.
If convicted of an offence involving acquiring, possessing, using, concealing or transferring benefits of criminal conduct, he may be fined up to $500,000 and jailed for up to 10 years.
Bail has been offered at $50,000, and lawyer Raymond Lye, who is acting for Neo, asked for a six-week adjournment.
The case is expected to be next mentioned on Nov 7.