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Lawyer in missing millions case hit with 19 more charges, taking total amount involved to more than S$75 million - CNA

SINGAPORE: Jeffrey Ong Su Aun, the former managing partner of JLC Advisors LLP who went missing after allegedly embezzling millions from an engineering firm, has been charged with 19 more counts of criminal breach of trust and cheating, a police news release said on Tuesday (Oct 20).

The charges comprise 14 counts of criminal breach of trust as an attorney and five counts of conspiracy to cheat involving more than S$17.4 million, police said.

With the additional charges, Ong now faces a total of 76 charges of cheating, forgery and criminal breach of trust as an attorney involving a total sum of more than S$75 million.

READ: Singapore lawyer linked to missing S$33 million was arrested in KL hotel: Malaysian police

The new set of charges arose from investigations by the Commercial Affairs Department into an escrow facility held by JLC Advisors for CW Group Holdings, a company listed on the Hong Kong Stock Exchange. 

"The 14 criminal breach of trust charges relate to the misappropriation of monies amounting to S$17,477,285.07 from the said escrow facility," police said.

"The five counts of conspiracy to cheat were aimed at concealing the misappropriation of funds from CW Group’s board of directors as well as the auditor of CW Group’s subsidiaries in Singapore, Ernst & Young Solutions LLP."

FIRST CHARGED IN FEBRUARY

Ong was first charged over the missing millions in February, when he was handed 11 charges of embezzling S$33.8 million between October 2017 and August 2018.

The money belonged to engineering firm Allied Technologies, and was held in escrow - where funds are held by a law firm while two or more parties complete a transaction.

Ong later fled the country but was arrested in Malaysia with the help of the Royal Malaysia Police in May last year.

This was after Allied Tech filed a police report over an unauthorised payout of S$33 million from its escrow account.

After his arrest in Malaysia, Ong was brought back to Singapore.

Investigations against Ong are ongoing.

THE 76 CHARGES ONG FACES AS OF OCT 20, 2020:

(a) 1 count under Section 420 Penal Code for cheating CCJ Investment Limited into disbursing a S$6 million loan

(b) 8 counts under Section 468 Penal Code for the forgery of documents to cheat CCJ Investment Limited into disbursing the S$6 million loan;

(c) 1 count under Section 409 Penal Code for the misappropriation of US$4,851,289.15 from an escrow account between Airtrust (Singapore) Pte Limited (“Airtrust”) and Wrangwell Limited (“Wrangwell”), while acting as a solicitor of JLC Advisors;

(d) 16 counts under Section 468 Penal Code for the forgery of statements of accounts for the escrow account between Airtrust and Wrangwell for the purpose of cheating;

(e) 8 counts under Section 409 Penal Code for the misappropriation of S$21,554,609.12 from the share placement proceeds for Allied Technologies Limited (“Allied Technologies”) while acting as a solicitor of JLC Advisors;

(f) 3 counts under Section 409 Penal Code for the misappropriation of S$12,285,065.85, being the balance proceeds from the sale of Allied Technologies’ subsidiary, Allied Machineries (Shanghai) Co. Ltd., while acting as a solicitor of JLC Advisors;

(g) 14 counts under Section 417 Penal Code for the issuance of false escrow notices between 3 November 2017 and 22 January 2019 to the Board of Directors of Allied Technologies;

(h) 1 count under Section 467 Penal Code for the forgery of a JLC Advisors partner’s signature on a cheque for S$33,153,416.56, which was issued to Allied Technologies;

(i) 4 counts under Section 409 Penal Code for the misappropriation of S$11,700,020 of escrow funds held for Allied Technologies, while acting as a solicitor of JLC Advisors;

(j) 1 count under Section 409 Penal Code for the misappropriation of S$250,000 belonging to a client of JLC Advisors, while acting as a solicitor of JLC Advisors;

(k) 11 counts of Section 409 read with Section 109 Penal Code for the misappropriation of S$17,212,344.67 from the escrow account of CW Group while acting as a solicitor of JLC Advisors;

(l) 3 counts of Section 409 Penal Code for the misappropriation of S$264,940.40 from the escrow account of CW Group while acting as a solicitor of JLC Advisors;

(m)1 count under Section 417 read with Section 109 Penal Code for engaging in a conspiracy to cheat the Board of Directors of CW Group into omitting to investigate missing monies in the escrow account of CW Group; and

(n) 4 counts under Section 417 read with Section 109 Penal Code for engaging in a conspiracy to cheat Ernst & Young Solutions LLP into issuing a clean opinion on its audit of CW Group’s Singapore-based subsidiaries.

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