Singapore's former transport minister was convicted of charges of accepting gifts while in office on Tuesday. It's the city-state's first graft trial involving a politician in nearly five decades.

62-year-old Subramaniam Iswaran pleaded guilty to four counts of obtaining valuable items under Singapore's Penal Code, and one count of obstructing justice.

The gifts included flights on a private jet, free tickets to Singapore's Formula 1 Grand Prix, as well as expensive whisky and a luxury bicycle. The items are valued at more than 312,000 US dollars.

Iswaran was initially accused of 35 charges but that figure was dropped to 5. The prosecution is seeking a prison term of six to seven months, while the defense counsel is asking for no more than eight weeks. The sentence will be handed down on October 3.

During his long career, Iswaran was instrumental in bringing Formula 1 racing to Singapore. The case has rocked the Asian financial hub which is known for its strong, clean governance and efficient bureaucracy.