SINGAPORE — Malaysian billionaire Ong Beng Seng is set to plead guilty on July 3 in a high-profile corruption case tied to former Singapore transport minister S. Iswaran.

Ong, 79, who famously brought Formula One to Singapore, faces two charges: abetting a public servant to receive gifts and obstructing justice. The charges stem from a 2022 private jet trip and luxury hotel stay he allegedly arranged for Iswaran, worth thousands of dollars.

He’s also accused of warning Iswaran that investigators had seized flight records, leading the minister to request a retroactive invoice — triggering an obstruction charge.

Iswaran was sentenced to one year in jail in 2024 after admitting to receiving gifts from Ong and another businessman. Ong will also step down as managing director of Hotel Properties Limited.