Lawyer Jeffrey Ong slapped with four more charges
Lawyer Jeffrey Ong Su Aun, the former managing partner of law firm JLC Advisors, was slapped with four more charges of criminal breach of trust as an attorney yesterday. He now faces a total of 57 charges of cheating, criminal breach of trust and forgery.
Ong, 42, made headlines last year when he disappeared after more than $33 million held in escrow for Allied Tech went missing. Escrow accounts are used to control the flow of funds in transactions such as mergers and acquisitions.
In a news release yesterday, the police said the four new charges arose from investigations by the Commercial Affairs Department.
The charges relate to the misappropriation of $11.7 million from an escrow facility held by JLC Advisors for Allied Technologies. The monies were placement proceeds for a share placement exercise carried out by Allied Technologies in October 2017.
Ong allegedly cheated CCJ Investment Limited of $6 million and misappropriated more than $33.8 million from Allied Technologies' escrow account.
He allegedly forged a cheque for $33.1 million last year and showed it to Allied Technologies to falsely prove the money was still in the escrow account.
It was previously reported that Ong left Singapore on May 13 last year in a private-hire car, making his way to a hotel in Kuala Lumpur and becoming uncontactable by discarding his mobile phone.
But he was arrested by the Royal Malaysia Police and brought back to Singapore on May 30 last year.
Ong has been in remand since his arrest and investigations are ongoing. - DAVID SUN