That's no different than if the president of the US used his power to acquire money. The only difference is that in Singapore the law itself has been corrupted

That's no different than if the president of the US used his power to acquire money. The only difference is that in Singapore the law itself has been corrupted to allow it. Corruption, and even corrupt laws, exist in democracies too, but in a non-democracy all laws are inherently corrupt. Non-democracies have no legitimate basis for even having laws.