There was also one count of obstruction of justice.
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It was immediately announced that Iswaran had resigned from his position as a minister, MP and member of the ruling People's Action Party. He pleaded not guilty, vowed to contest the allegations, and was released on S$800,000 bail.
“I reject the accusations in the charges and will now focus on clearing my name,” he said in a letter to Prime Minister Lee Hsien Loong.
Iswaran faces up to seven years in prison, a fine of up to S$100,000, or both if found guilty of corruption.
Ong was also arrested last year, but the Public Prosecutor's Chambers said it would wait until Iswaran's case was over before deciding whether to go ahead with the case against him.
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The abuse of power scandal is a blow to the reputation of the Southeast Asian financial centre, which is closely guarded.
Singapore is surrounded by neighboring countries where corruption has long been a stain on governance, but a minister has not been caught in such alleged behavior since 1986. The case was never brought to court because the cabinet member died without being charged.
The PAP's stated commitment to strict cleanliness is that its uniform, regularly worn by members and leaders, is white, which “indicates purity and integrity,” according to the party's website.
To further discourage politicians from making mistakes, they are among the best compensated people in the world, with the Prime Minister receiving an annual income of S$2.2 million ($2.5 million) and junior ministers receiving a salary of S$1.1 million.
Lee, the son of party co-founder and the country's first prime minister, Lee Kuan Yew, reiterated the government's goal in a statement issued by his office on Thursday.
“The government has handled this issue strictly in accordance with the law, and will continue to do so,” said Lee, who announced plans to hand over leadership of the party and state to Deputy Prime Minister Lawrence Wong next year ahead of the new year. Elections in 2025.
“I am determined to uphold the integrity of the party and government, and our reputation for honesty and incorruption. “Singaporeans expect nothing less.”
With Bloomberg and Reuters
