A former tycoon allegedly involved in a US$51 million embezzlement case has been served with 38 additional charges on May 20. Ng Teck Lee, 59, now faces a total of 40 charges, including theft, corruption, and money laundering.
Ng previously served as the chief executive of Citiraya Industries, a firm specializing in recycling electronic waste for computer chip manufacturers. Authorities allege he misappropriated and sold uncrushed computer chips between April 2003 and November 2004, netting more than US$51 million—approximately S$72 million at the time.
Details of the Alleged Fraud and Corruption
A joint statement from the police and the Corrupt Practices Investigation Bureau (CPIB) on May 20 detailed charges of graft, criminal breach of trust (CBT), cheating, and the falsification of accounts. Ng is accused of paying bribes totaling $35,000 to three individuals between March 2003 and April 2004.
One specific allegation involves a $20,000 bribe paid to a surplus asset organisation manager to help Citiraya secure a recycling contract. Ng allegedly instigated his brother to provide bribes exceeding S$2 million to seven different individuals between November 2003 and December 2004.
The scheme also involved the misappropriation of more than 89,000kg of electronic chips, which Ng allegedly sold in Taiwan and Hong Kong. These chips were part of a larger batch of more than 113,000kg of electronic scrap entrusted to him by two companies.
Manipulation and Money Laundering
Investigators claim Ng instructed Citiraya employees to repackage and export electronic scraps instead of crushing them, violating a contract held by Citiraya UK. Between November 2003 and January 2005, Ng allegedly cheated a finance manager and a senior accountant by claiming scrap contained lower levels of precious metal than it actually did.
Financial maneuvers included the transfer of approximately US$45 million in purported ill-gotten gains to two overseas bank accounts in April 2003. Ng also allegedly directed his wife, Thor Chwee Hwa, to open an overseas account to conceal these benefits, with US$1 million transferred there in July 2003.
Ng is accused of conspiring with others to falsify 97 sales invoices for Citiraya and six other companies between June 2004 and January 2005.
The 20-Year Flight from Justice
The CPIB began investigating Citiraya between late 2004 and early 2005. While Thor Chwee Hwa met with officers on January 21, 2005, and was released unconditionally, she left Singapore a week later to join Ng overseas.
The couple used false identities to apply for residency in Malaysia through the Malaysia My Second Home programme, utilizing a residence originally owned by Thor’s brother. Their flight ended on December 3, 2024, when the Malaysian Anti-Corruption Commission arrested them in Johor Bahru.
On May 8, Thor was sentenced to one year and 10 months in jail after admitting to opening a bank account that received more than US$1.1 million in ill-gotten gains.
Legal Outlook
Ng Teck Lee is scheduled for a pre-trial conference on June 26. Depending on the court’s findings, this may lead to further legal proceedings regarding the 40 charges he currently faces.
Frequently Asked Questions
What was the total amount allegedly embezzled by Ng Teck Lee?
Ng is allegedly linked to an embezzlement case involving more than US$51 million, which was approximately S$72 million at the time.
How did Ng and his wife hide their identities in Malaysia?
They posed as Indonesian nationals and applied to live in Malaysia under the Malaysia My Second Home programme.
What specific corporate activities were manipulated in this case?
Ng allegedly instructed employees not to crush electronic scrap, instead repackaging and exporting it, and falsified 97 sales invoices across seven companies.
How do you think international residency programs can be better monitored to prevent the use of false identities?
