Singapore is reviewing its Formula 1 contracts after a corruption scandal in its government

He Government of Singapore He assured that it was Monday will review the terms of its agreement with Formula 1 after the former Minister of Transport, S.Iswaran, resign within the framework of the corruption scandal related to the businessman who brought the Grand Prix to the island.

The Minister of Trade Relations, Grace Fu, today assured the island’s Parliament that the Singapore Tourism Board has launched an audit of the 2022 race and that it is reviewing the terms of the city-state agreement with F1.

“There is nothing to suggest at this time” that the contracts were manipulatedFu told the lower house, although he added that, “given the allegations of corruption,” they are “rereviewing their terms again,” Fu said, referring to an agreement between the Tourism Board and Singapore GP Private that organize a night race in the city-state.

S. Iswaran resigned last month after being charged with 27 crimes in the context of a corruption scandal linked to Ong Beng Seng, the businessman in charge of bringing the Formula One Grand Prix to the island in 2008, who is facing no such charge. since the 1980s.

Most of the crimes were linked to Ong, with 24 of them involving S.Iswaran’s alleged acceptance of bribes and luxury items, including Grand Prix tickets worth more than US$218,000 (about $200,000 ). euro) between November 2015 and December 2021.

The accusations against Iswaran are varied and their severity ranged from receiving more than $160,000 from Ong to securing his Grand Prix-related contracts with the Singapore Tourism Board to receiving tickets for shows such as the Broadway play ‘Harry Potter and the Cursed Child.’

With no further details of the scandal revealed, the island continued its strong commitment to an event where it pockets around 130 million dollars annually in tourist spending, according to official data, and in 2022 it extended the contract to host the event. career in the next seven years.