In a media release, the Singapore Police Force said Lulu Lim Beng Kim had allegedly deceived the financial institutions into believing that the consolidated financial statements for Agritrade International and its subsidiary companies between 2016 and 2018 were audited."By such manner of deception, Lulu Lim was believed to have dishonestly induced the three financial institutions to deliver moneys through credit facilities to Agritrade International," they said.
The total sum involved in the six charges amounted up to US$475 million in drawdowns from credit facilities. Lim now faces a total of 20 charges – 19 counts of cheating and one count of abetting the falsification of accounts.
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