Left: Lee Kuan Yew; Right: Lee Hsien Loong
Between April and October 1995, Singapore's founding prime minister Lee Kuan Yew and his son Lee Hsien Loong engaged in a series of transactions with Hotel Properties Limited (HPL) that became the subject of a political scandal[1][2] after they were made known to the public in April 1996.
At the direction of Prime Minister Goh Chok Tong, the Monetary Authority of Singapore (MAS) investigated the Lees' purchase of units at two HPL-developed condominiums, for which they had received over a million dollars in discounts. Goh subsequently cleared them of any wrongdoing and the discounts were donated to charity.
- ^ Healy, Tim; Oorjitham, Santha (10 May 1996). "No Discounts, Please". CNN. Retrieved 14 July 2023.
- ^ McDermott, Darren (22 May 1996). "Singapore's Lee Defends Purchase of Condo Units". The Wall Street Journal. Retrieved 14 July 2023. (subscription required)