Allied Tech independent directors assisting in CAD probe, Companies & Markets

Allied Tech independent directors assisting in CAD probe, Companies & Markets

Sun, Feb 02, 2020 - 6:17 PM THE Commercial Affairs Department (CAD) is pressing on with its investigation into the affairs of Allied Technologie

Lawyer Jeffrey Ong hit with another 15 charges, mostly linked to Allied Tech’s missing funds, Companies & Markets
Lawyer Jeffrey Ong hit with another 15 charges, mostly linked to Allied Tech’s missing funds
JLC Advisors’ Jeffrey Ong faces 12 charges over Allied Tech’s S$33m, Companies & Markets


Sun, Feb 02, 2020 – 6:17 PM

THE Commercial Affairs Department (CAD) is pressing on with its investigation into the affairs of Allied Technologies, and has sought assistance from two of its independent directors, the Catalist-listed firm said last Friday.

Pok Mee Yau and Lim Jin Wei will be providing assistance to the commercial crime police, Allied Tech said. Ms Pok is a partner at legal firm JLC Advisors.

In May last year, the board of Allied Tech had lodged a police report requesting an investigation into JLC Advisors and its managing partner Jeffrey Ong Su Aun for potential offences, after S$33 million of funds that the company had parked with JLC Advisors went missing, while Ong’s whereabouts were unknown.

Ong has since been slapped with 26 charges, after been arraigned last October on four fresh counts, including the most serious offence of criminal breach of trust.

As part of its investigations, the CAD has seized documents from Allied Tech relating to the company and three of its subsidiaries, as well as the JLC escrow account.

CAD has also interviewed Allied…



Click here for the full story.

COMMENTS

WORDPRESS: 0
DISQUS: