Singapore: Court cuts jail term for duo who extracted $2m in bribes, imposes nearly $201,000 fine

Two men, who were originally handed 5½ years’ jail for extracting more than $2 million in bribes from a flour distributor, had their jail terms cut on Wednesday (Dec 2), following their appeal to the High Court.

Katsutoshi Ishibe, 55, and Takaaki Masui, 57, were each sentenced to three years, seven months and three weeks’ jail as well as a fine of $200,944.

The two Japanese men were also each ordered to pay a penalty of more than $1 million, a sum equal to the amount of bribes they had received.

They will have to serve an additional one year’s jail if they cannot pay the fine and the penalty.

Justice Chan Seng Onn said in his 199-page judgment that this was “one of the most egregious cases of purely private sector corruption in Singapore”.

However, he determined that the original sentences were manifestly excessive, after he set out a sentencing framework for cases of corruption involving private sector agents performing purely commercial functions.

The original full article can be found at straitstimes.com

(Photo: ST File)

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