Singaporean Oil Trader Gets 12 Years in Chinese Prison Over Tariff Evasion
- Dikun Yin was former managing director in Singapore for Gunvor
- Company says it is not responsible for tax payments in case
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A former Singapore-based managing director for Gunvor Group Ltd. was given a 12-year prison sentence in China for his role in evading Chinese tariffs on oil imports.
Dikun Yin, a Singapore citizen, was given the sentence by a court in the southern Chinese province of Guangdong, according to Gunvor and a document seen by Bloomberg News. Yin was found guilty of being involved in evading tariff payments of about 378 million yuan ($54 million) related to 1.3 million tons of oil products imported into China, the document shows.