Liquid assets and a fine of $2.5 million.

Giorgio Ferrari, a SIngapore permanent resident from Italy, was fined $2.5 million for offences in relation to his liquor business which bears his name. He pleaded guilty to 10 charges and another 178 charges were taken into account. His offences related to customs duties and Goods and Services Tax (GST). He was allowed to settle the fine in instalments over 2 and a half years. There does not appear to be any jail sentence, going according to recent reports.

Under international rules and local statutes, foreign diplomatic missions are exempt from local taxes. For example, foreign diplomatic missions do not pay Certificate of Entitlement and Additional Registration Fees on their cars. As regards liquor ordered by foreign missions, a similar rule applies. However, Ferrari made liquor deliveries to such missions either without the proper permits or after the permitted validity period for the permits that he obtained.