The primary shareholder of Mulberry faces legal scrutiny amidst allegations linked to a former cabinet minister’s conviction in Singapore.
- A Singapore court has charged Ong Beng Seng, the largest shareholder of Mulberry, with abetment and obstruction of justice.
- The charges are connected to former Singapore transport minister Subramaniam Iswaran, who confessed to accepting gifts from Ong worth over $300,000.
- Iswaran received a one-year prison sentence for accepting illicit gifts as a public servant and impeding justice.
- Ong Beng Seng is also addressing a takeover proposal from Frasers Group concerning Mulberry.
Ong Beng Seng, a prominent stakeholder in the luxury brand Mulberry, is embroiled in legal proceedings in Singapore. The court charges him with abetment and obstruction of justice, actions linked to the criminal case of Subramaniam Iswaran, a former transport minister. In court, the latter admitted to accepting gifts from Ong, amounting to more than £228,930. These offerings included tickets to prestigious sports events and a private jet experience, which Iswaran’s legal defense claimed were merely tokens of friendship.
Subramaniam Iswaran’s admissions led to him being sentenced to one year in prison for misconduct as a government official, alongside obstruction of justice charges. The gifts reportedly received from Ong were central to the prosecution’s argument, highlighting a significant breach of ethical standards expected from public servants.
While Ong Beng Seng has yet to submit a plea, his spokesperson stated that he is actively seeking legal advice. This reflects the complexities and potential ramifications of the accusations levied against him.
In parallel, Ong is engaged in strategic business maneuvers concerning Mulberry. He recently turned down a monetary offer from Frasers Group, an established retail conglomerate. This development follows Frasers Group’s acquisition of additional Mulberry shares in a broader company asset sale.
As legal proceedings unfold, the implications for Ong Beng Seng’s stake in Mulberry remain uncertain.
