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Allied Tech lodges complaint with Law Society against Jeffrey Ong
CATALIST-LISTED precision engineering firm Allied Technologies on Monday lodged a complaint with the Law Society of Singapore against JLC Advisors managing partner Jeffrey Ong Su Aun over its missing S$33 million escrow fund.
In a regulatory filing on Tuesday, the company said it had written to the Law Society, stating that "there are grounds to suspect that Mr Ong has failed to comply with his professional duties" under the Legal Profession Act.
Mr Ong has been uncontactable for almost two weeks now, and he was said to have instructed the possibly "unauthorised" payout of Allied Tech's S$33 million funds.
The company was informed by a hand-delivered letter on May 22 - hours before its ultimatum to JLC Advisors for release of the funds - about the possibly unauthorised payout. The letter's author was then not made known to Allied Tech but JLC Advisors had since informed Allied Tech it was prepared and approved by JLC Advisors senior partner Vincent Lim.
JLC Advisors said it has no knowledge of any of Allied Tech's demands for the release of the funds or communications with Mr Ong, and requested for copies of all such demands or communications.
The law firm has also appointed Advocatus Law as its solicitors, which would look into a detailed reply by early next week to Allied Tech's letter of demand dated May 17 and another letter sent on May 23.
Allied Tech had fired off a letter on May 23 to question JLC Advisors about the details and circumstances of how its funds could have gone missing, as well as the basis for believing that the funds have been paid out.