SINGAPORE - Managing partner of JLC Advisors law firm, Jeffrey Ong Su Aun, who is allegedly linked to missing monies totalling more than $33 million, has been arrested and is now facing a cheating charge.
The 41-year-old Singaporean lawyer was caught in Malaysia and was taken back to Singapore on May 30.
He was charged with one count of cheating on June 1 in a Singapore district court.
Jialat.........Jeffrey Ong faces 8 more charges!!!!!!!!
These charges are related to the 41-year-old lawyer's earlier case of having allegedly deceived a company called CCJ Investments of S$6 million on Feb 19.
The fresh accusations are the result of three more clients of JLC Advisors having filed reports with the Commercial Affairs Department (CAD) over allegedly unauthorised transactions involving S$16 million in their funds held with the boutique law firm.
These allegations followed Catalist-listed precision engineering firm Allied Technologies' complaint to the white-collar crime-buster in late May against Ong and JLC Advisors over S$33 million missing from its escrow account held by the law firm.
Deputy Public Prosecutor (DPP) Nicholas Khoo updated the District Court on these developments when Ong's cheating case came up for mention on Thursday.
DPP Khoo, in an application to have Ong remanded another week, said the CAD needed more time to trace the funds and to look into which transactions were unauthorised.
More at https://www.businesstimes.com.sg/companies-markets/jeffrey-ong-faces-8-more-charges-cad-receives-new-reports
Malaysian police helped locate, arrest fugitive lawyer Jeffrey Ong: Singapore police
SINGAPORE — Malaysian police helped to locate and arrest Jeffrey Ong, the lawyer who went missing along with more than S$33 million from a client's escrow account, the Singapore Police Force (SPF) said in a statement on Thursday (June 6).
The SPF said that they have charged the 41-year-old Ong, a lawyer with JLC Advisors LLP, in relation to an alleged case of misappropriation of S$33 million from an escrow account held by the law firm.
“A police report was lodged on 21 May 2019 regarding the case,” SPF said.
“The police subsequently sought the assistance of the Royal Malaysia Police (RMP) to locate and arrest Jeffrey Ong, who had left Singapore before investigations commenced.
“With the co-operation and assistance of the RMP, Jeffrey Ong was arrested and brought back to Singapore on May 30, 2019.”
The statement did not say where Ong was arrested. TODAY has reached out to the Malaysian police to get more details.
Ong was charged in court last Saturday (June 1) with one count of cheating and is remanded for further investigations.
“As the case is before the courts, the police are unable to comment further,” SPF said.
The lawyer had gone missing after engineering firm Allied Technologies said on May 23 in a Singapore Exchange (SGX) filing that it was making a police report. This was after it was told by JLC Advisors — the law firm holding its escrow account — that S$33.4 million from the account may have been paid out under Ong's instruction.
The charge sheet showed that on Feb 19, Ong allegedly deceived a company called CCJ Investments into believing that another entity called Suite Development had entered into a loan agreement with it.
Ong also allegedly "dishonestly induced" CCJ Investments to disburse a sum of S$6 million. Some S$3.3 million was then used to refinance Suite Development's mortgage loan and about S$2.7 million was deposited into the client account of JLC Advisors.
The maximum sentence for cheating is 10 years' jail and a fine.
More at https://www.todayonline.com/singapore/malaysian-police-helped-locate-and-arrest-jeffrey-ong-say-singapore-police
Will the $33 million be recovered eventually?
Malaysian police boleh
Dude got caught so quickly? Meh he truly sucks at playing hide and seek.
Ho sey got show to watch liao!
This bugger will probably win a staycation at Changi Hilton lasting at least 15 years..........