Malaysia Plantation
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.










Former Agritrade CFO & Singaporean Lulu Lim Beng Kim Sentenced to 20 Years Jail after Pleading Guilty to Cheating $469 Million in Trading Financing from Banks, Draws Annual Salary of S$400,000 & Did Not Personally Benefited

21st January 2023 | Singapore

Former commodities firm Agritrade International CFO (Chief Financial Officer) & Singaporean Lulu Lim Beng Kim had been sentenced to 20 years jail, after pleading guilty for cheating $469 million in trading financing losses from major banks (2016 to 2019) by submitting unaudited & false financial statements to receive the trade facilities.  In the defence from her lawyer, Lulu Lim Beng Kim (Age 63) had an annual salary of S$400,000 and did not personally benefited from the offence.  Singapore District Judge Kow Keng Siong took into account Lulu Lim Beng Kim did not do it for personal greed and is also not the mastermind, and passed the 20 years sentence (The 20 years sentence will be backdated to 2021 September when she was arrested after arriving in Singapore from UAE.)  Lulu Lim Beng Kim (as Agritrade International CFO) had submitted “audited” financial statements to 16 financial institutions (including ING, Natixis, MUFG, Maybank) and received more than $586 million in credit facilities (2017 to 2019), and ultimately causing a loss of around $469 million to the financial institutions.  In early 2020, Agritrade, which operates palm oil & coal mining business in Indonesia & China, came under financial strain due to the collapse in oil and coal prices.  In 2020, ING Bank submitted a filing against Ng Xinwei (CEO) and his father Ng Say Pek (Founder of Agritrade) for misrepresenting the financial information of the company.  

“ Former Agritrade CFO & Singaporean Lulu Lim Beng Kim Sentenced to 20 Years Jail after Pleading Guilty to Cheating $469 Million in Trading Financing from Banks, Draws Annual Salary of S$400,000 & Did Not Personally Benefited “

Former Agritrade CFO & Singaporean Lulu Lim Beng Kim Pleads Guilty for Cheating $469 Million in Trading Financing from Banks, Draws Annual Salary of S$400,000 & Did Not Personally Benefited

Malaysia Plantation

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
6th March Hong Kong | 13th March Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 6th March 2024 in Hong Kong, 13th March 2024 in Singapore.
Visit | Register here


The 2024 Family Office Summit
10th April Hong Kong | 24th April Singapore

Join 100+ single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here





Former Agritrade CFO & Singaporean Lulu Lim Beng Kim Pleads Guilty for Cheating $469 Million in Trading Financing from Banks, Draws Annual Salary of S$400,000 & Did Not Personally Benefited

16th December 2022 – Former commodities firm Agritrade International CFO (Chief Financial Officer) & Singaporean Lulu Lim Beng Kim had pleaded guilty for cheating $469 million in trading financing from major banks (2016 to 2019) by submitting unaudited & false financial statements to receive the trade facilities.  In the defence from her lawyer, Lulu Lim Beng Kim (Age 63) had an annual salary of S$400,000 and did not personally benefited from the offence.  In early 2020, Agritrade, which operates palm oil & coal mining business in Indonesia & China, came under financial strain due to the collapse in oil and coal prices.  In 2020, ING Bank submitted a filing against Ng Xinwei (CEO) and his father Ng Say Pek (Founder of Agritrade) for misrepresenting the financial information of the company.




Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    InvestorProfessionalFamily OfficeExecutive


    SubscriptionMembershipEvents


    Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights










    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • June 2024 - Hong Kong
    • June 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014




    Previous articleFacebook Co-Founder Eduardo Saverin B Capital Closes 3rd Fund at $2.1 Billion, Founded in 2015 and Led by Howard Morgan, Sheila Patel, Eduardo Saverin & Raj Ganguly
    Next articleBain & Company Appoints Sebastien Lamy as Co-Head of Asia-Pacific Private Equity Practice, Succeeds Andrew Tymms & to Lead Private Equity APAC business with Kiki Yang
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia