KUALA LUMPUR: A 19-year manhunt for Singaporean tycoon Ng Teck Lee, who was involved in a $72 million embezzlement case, came to an end on Dec 3 when he and his wife, Thor Chwee Hwa, were arrested in Johor Baru.
According to a Straits Times report, the couple had been on the run since 2005 after Ng, who was the then chief executive officer of the now-defunct recycling company Citiraya Industries, was accused of misappropriating over US$51 million (approximately $72 million at the time).
Citiraya Industries, which was involved in recycling electronic waste to recover precious metals, had clients including semiconductor giants like AMD, Intel, and Infineon.
However, instead of processing the scrap, Ng allegedly diverted it to be sold overseas.
Investigations revealed that he had sold the electronic scrap to syndicates in Taiwan and Hong Kong.
The report says Ng coordinated with the company's chief financial officer and other staff to facilitate the sale of the scrap.
The scheme came to light in 2004, after a complaint was lodged regarding a chip from a US-based client that was found in Taiwan.
Investigations later uncovered that Ng had misappropriated 62 shipments (around 89 tonnes) of electronic waste between 2003 and 2004.
Ng is also accused of bribing several individuals, and 12 people have been jailed for their roles in the scandal.
The tycoon and his wife fled Singapore in 2005 when the Corrupt Practices Investigation Bureau (CPIB) began investigating the case.
Despite the manhunt, which included issuing a police gazette, warrants for arrest, and Interpol Red Notices, they evaded capture for nearly two decades.
They were apprehended in Johor Baru by the Malaysian Anti-Corruption Commission (MACC) and handed over to the CPIB.
Ng was charged with criminal breach of trust, while Thor faced charges under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act.
Ng had also faced asset seizures, with nearly $23 million worth of assets, including bank accounts and properties in both their names, being confiscated by the CPIB.
CPIB director of Investigations Vincent Lim thanked the MACC for its cooperation, noting that the arrest underscores the longstanding ties between the two agencies.
"There is zero tolerance and no safe haven for those who choose to break our laws by engaging in corrupt or criminal activities," Lim said.