JLC law firm downsizes after managing partner Jeffrey Ong's scandal

Singapore

WITH its managing partner Jeffrey Ong Su Aun still remanded in custody, JLC Advisors has shrunk, following the revelation that Catalist-listed precision engineering firm Allied Technologies' S$33 million held in escrow by the law firm had reportedly gone missing.

The firm, which celebrated its 10th anniversary last year with Ong taking over the reins as managing partner, has moved out of its premises in UOB Plaza 1 in Raffles Place.

When The Business Times visited the premises on Thursday, Nicholas & Tan - which is not related to JLC - was still operating there. The firm used to share the space there with JLC.

JLC is now located at International Plaza in Tanjong Pagar, with senior partner Vincent Lim holding the fort at the downsized office.

Its corporate website has also been replaced by an "under construction" notice, which states that the site is "undergoing some enhancement".

Several lawyers have quit JLC after the scandal broke in May when the 41-year-old Ong became incommunicado and Allied Tech's S$33 million had possibly been paid out under unauthorised instructions.

Ong has been arrested since and charged in June with a total of 22 forgery and cheating charges, all of which are unrelated to Allied Tech.

Some JLC legal practitioners have crossed over to Focus Law Asia and NLC Law Asia, BT understands, while JLC's former principal consultant senior counsel Jeffrey Chan Wah Teck first moved to Providence Law Asia and is now with TSMP Law.

JLC's former salaried partner Karen Pok Mee Yau is among those who have left JLC.

She is now practising at another firm, according to a search on the Ministry of Law website.

It is not known if Ms Pok has quit Allied Tech's board as independent director but the Singapore Exchange Regulation has directed that the board must not be changed until the auditors' observations including the escrow funds have been satisfactorily resolved.

Before JLC's website was taken down, it stated that the law firm offered a wide range of legal services, from dispute resolution to commercial and corporate law.

The law firm is being sued by dormitory operator Aik Chuan Construction for S$3 million - allegedly the unpaid amount of a S$5 million loan, which the plaintiff said was taken out by Ong on behalf of JLC.

JLC disputes the claim and is counter-suing Aik Chuan Construction, Aik Chuan Investment and Ken Lim Yew Ming, the owner of these two companies, for S$32.1 million.

Meanwhile, Ong's matter was supposed to be mentioned in the State Courts on Thursday but was adjourned to Sept 26.