Hong Kong CNN — Singapore’s corruption investigation now includes Ong Beng Seng, a hotel tycoon known for bringing the Formula 1 Grand Prix to the city. Ong, managing director of Hotel Properties Limited, was arrested last Tuesday with Minister of Transport S. Iswaran, according to the country’s anti-corruption agency, CPIB. Both were released on bail. Ong’s company said he was asked for information on his interactions with Iswaran. The investigation began on Tuesday, an unusual corruption probe involving a high-level official. Ong posted bail of SGD 100,000 ($76,000) and will report back to the agency upon returning to Singapore. The company said Ong is cooperating fully and his shares in Hotel Properties fell 2.6% following the news. Ong owns the Four Seasons hotels in the Maldives and Malaysia, and is the sole shareholder of the Singapore Grand Prix.
