SINGAPORE (Oct 14): Jeffrey Ong Su Aun, the former managing director of law firm JLC Advisors who had allegedly fled with millions of dollars of clients’ monies, has been slapped with four new charges.
Ong’s case was mentioned in court on Monday morning, with the prosecution seeking a six-week adjournment as they record statements in relation to other charges.
On Monday, Ong was hit with three new charges of forgery to cheat one Chen Yi Zhang into believing that US$4.9 million ($6.7 million) from a settlement with Airtrust (Singapore) and Wrangwell was still held in JLC Advisors’ escrow.
According to charge documents, Ong had forged statement of accounts by Standard Chartered bank for April, May and June 2018.
A new charge of criminal breach of trust was also slapped on Ong for misappropriating this US$4.9 million on or about Oct 23, 2017.
This brings the total number of charges against Ong to 26.
Ong is also alleged to have been behind the missing monies of Allied Technologies, which was held in escrow by JLC Advisors.
The case will be heard again on Nov 25. No bail has been granted to Ong.
Ong is the former chairman of Annica Holdings, which is one of the listed companies linked to John Soh Chee Wen and Quah Su-Ling, the alleged masterminds behind the 2013 penny stock crash.
Soh and Quah are alleged to have been behind the massive rise and sudden collapse of shares in Blumont Group, LionGold Corp and Asiasons Capital (now Attilan Group), which wiped out some $8 billion in market value.
Soh is facing 189 charges for alleged stock manipulation, cheating and witness tampering, while Quah is facing 178 charges of stock manipulation and cheating.