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."
Read also:
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.
Keep up to date with all the F1 news via Facebook and Twitter
Cadillac has finally identified the source of the brake troubles that have disrupted its first…
As the countdown begins to Formula 1’s final Dutch Grand Prix at Zandvoort, a quiet…
The FIA has strongly rejected accusations that it failed to foresee the problems created by…
Tragedy struck on this day, 67 years ago in 1958, when Peter Collins lost his…
Long before Formula 1 became a booming phenomenon across the United States, Flavio Briatore and…
Ferrari boss Fred Vasseur delivered a clear message ahead of Formula 1’s summer break: the…