Singapore-based property tycoon Ong Beng Seng, the man responsible for bringing Formula 1 to the island country, was arrested earlier this week following an investigation by the state's anti-graft body.
The Malaysian billionaire is the founder of the Singapore-based organisation Hotel Properties which holds the rights to the Singapore Grand Prix at Marina Bay.
Ong Beng Seng was arrested and subsequently released on bail along with Singapore's transport minister, S Iswaran.
While Ong has not been charged with any offenses, the Corrupt Practices Investigation Bureau (CPIB) has instructed him, through his company Hotel Properties Limited, to provide information regarding his "interactions with Minister S Iswaran."
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Ong was instrumental in bringing F1 to Singapore and establishing an event that has generated incremental tourism receipts of over S$1.5 billion in revenues since its debut in 2008.
The race was suspended for two years due to the Covid-19 pandemic but returned to the calendar in 2022.
It is worth noting that the ongoing investigation does not appear to have any direct ties to the Singapore Grand Prix, and Ong is reportedly fully cooperating with the authorities.
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