Lawyer Jeffrey Ong faces another 12 charges; all linked to client's missing S$33.8m

Singapore

JLC Advisors managing partner Jeffrey Ong Su Aun was slapped with 12 additional charges on Monday, all in relation to Allied Technologies' missing funds of over S$33 million.

Catalist-listed precision engineering firm Allied Tech's escrow funds were reported missing last May. Between October 2017 and August 2018, sums of between S$9,967 and S$12.2 million were allegedly misappropriated by Ong, amounting to a total of S$33.8 million.

Ong has been charged with 11 offences under Section 409 of the Penal Code, which covers criminal breach of trust (CBT) by a public servant, banker, merchant, agent, broker, attorney or factor.

The offence is the most serious of CBT offences, and is punishable with life imprisonment, or with imprisonment for a term which may extend to 20 years, and liable to fining.

In the remaining charge, the 42-year-old Ong is alleged to have forged the signature of his firm's senior partner Lim Puay Chong Vincent on a cheque for about S$33.2 million on April 15 last year.

The charges that were arraigned on Monday came after the executives and independent directors of Allied Tech reported in regulatory filings in January that they were rendering assistance in the investigations.

Allied Tech made a report to the police after it was informed by JLC last May that S$33.4 million held in escrow by the law firm had gone missing while Ong was incommunicado.

Allied Tech subsequently said in a Singapore Exchange filing that the amount should have been S$33.15 million.

Neither figure tallies with the amount of S$33.8 million in relation to the 11 charges that the prosecution preferred against Ong on Monday. There is no explanation on the difference yet.

Deputy Public Prosecutor Nicholas Khoo told the court on Monday that the Commercial Affairs Department is still conducting investigations, and sought a six-week adjournment for the case.

The court granted the request and the next mention of the case is set for April 7. Ong continues to be remanded.

The latest charges bring the total number that Ong faces to 38, including earlier alleged cheating, forgery and CBT offences related to other companies.

Ong was arrested in Kuala Lumpur by the Malaysian police in late May last year after a police report was made in Singapore. He was extradited and charged with a cheating offence on June 1.

Ong has been denied bail after the court was persuaded that he is a high flight risk.