Singapore oil tycoon Lim Oon Kuin, the founder of Hin Leong Trading Pte., has been sentenced to 17 and a half years in prison for cheating HSBC Holdings Plc and instigating forgery.
The 82-year-old businessman, who has attended court hearings in a wheelchair, faced three charges out of more than 100 initially filed against him.
In a separate civil case, Lim and his family have agreed to pay $3.6 billion to the company's liquidators and creditor HSBC.
The family has also filed for bankruptcy, marking a significant development in a case that has caused a stir in Singapore's commodity-trading sector.