SINGAPORE (THE BUSINESS TIMES) – JLC Advisors managing partner Jeffrey Ong Su Aun is facing 15 additional charges, a majority of which relate to Allied Technologies’ missing funds of over $33 million.

The latest charges bring the total number that Ong faces to 53, including earlier alleged cheating, forgery and criminal breach of trust offences related to other companies.

Out of the 15 new charges, 14 are related to Ong cheating Allied Tech by deceiving the company into believing its escrow account maintained by JLC Advisors had contained certain balance amounts on certain dates.

By such manner of deception, Ong “intentionally induced” Allied Tech to omit to do an act, to wit, investigate the missing monies in the said escrow account.

The 14 charges are punishable under Section 417 of the Penal Code, where whoever cheats shall be punished with imprisonment for a term which may extend to three years or with a fine, or both.

The remaining charge was on Ong committing criminal breach of trust in the way of his business as an attorney during his time at JLC Advisors. Ong had dishonestly misappropriated S$250,000 from another client’s escrow account, committing an offence punishable under Section 409 of the Penal Code.

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