Lawyer linked to missing $33 million slapped with eight new charges
Three more clients come forward about alleged unauthorised transactions
The lawyer allegedly linked to the disappearance of more than $33 million of his client's monies has been slapped with eight more charges.
Three more clients have also come forward about alleged unauthorised transactions.
Jeffrey Ong Su Aun, 41, was yesterday charged with eight counts of forgery for the purpose of cheating.
The managing partner of law firm JLC Advisors now faces nine charges after he was first charged on June 1 with cheating CCJ Investments.
The charges relate to Ong allegedly deceiving CCJ Investments into disbursing $6 million under the impression it had entered into a loan agreement with Suite Development.
Ong is also alleged to have misappropriated more than $33 million held in escrow by his law firm for client Allied Technologies, but no charges have been filed in relation to this so far.
It is not clear how or if CCJ Investments and Suite Development are linked to Allied Technologies.
The latest court documents alleged that on Feb 18 and 19, Ong had fraudulently signed eight documents as James Tan Kwang Yong, the director and sole shareholder of Suite Development, and Joel Tan Guang Qian, Suite Development's company secretary.
This was to induce the disbursement of funds. The documents included director and shareholder resolutions, an instrument of transfer, a deed of charge and a deed of guarantee between the Suite Development director and CCJ Investments, as well as a mortgage relating to three properties in Tanjong Katong.
Of the $6 million disbursed, about $3.3 million was allegedly used to refinance Suite Development's mortgage loan and about $2.7 million was alleged to have been deposited into the client account of JLC Advisors.
Ong, who appeared in court via video link as he is in remand, had become uncontactable since mid-May.
He was arrested in a hotel in Kuala Lumpur with the help of the Royal Malaysia Police and brought back to Singapore on May 30.
Deputy Public Prosecutor Nicholas Khoo told the court yesterday that three other clients of JLC Advisors have since informed the Commercial Affairs Department (CAD) of alleged unauthorised transactions made from monies that were held by the law firm.
The sum involved totalled $16 million.
Ong will be remanded at Central Police Division for another week to allow the CAD to conduct further investigations and fund tracing.
He will be back in court on June 20.
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