If there’s one thing you’d need to know about Singapore, it’s this: you can run, but you can’t hide.
Just ask Jeffrey Ong, the lawyer who became $33 million richer overnight and went into hiding, but was still arrested.
But before that, a recap.
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Previously, In the Last Episode of Ong Run Fast
Lest you’ve not been following the news, here’s what happened:
Jeffery Ong worked as a senior lawyer in law firm JLC Advisors. JLC Advisors managed an escrow fund for Allied Technologies, in which an amount of money is being kept lest they’re needed for purchase or sale of property.
Since March, Allied Technologies has been trying to get the funds back but failed to do so. A demand letter was sent to the law firm on 17 May 2019, but on 22 May 2019, Jeffery allegedly took the money without authorization and went missing.
Since then, the Law Society of Singapore (LawSoc) has taken over funds that are held by JLC Advisors. They would also be conducting an investigative audit on the client accounts of JLC (yes, that means not just Allied Technologies’ money but all money held by the law firm).
It turns out that Jeffrey has been caught since 30 May 2019 and was charged last Saturday.
Charged for Another Cheating Case
According to The Straits Times, the 41-year-old lawyer hadn’t run far: he was apparently caught in Malaysia and was taken back to Singapore since 30 May 2019.
He was immediately charged two days later, on 1 June 2019.
But it wasn’t for the $33 million case. Yet.
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Apparently, he was involved in another case in February this year.
He had then allegedly deceived CCJ Investments (which has no online footprint) to take a loan of $6 million dollars. $3.3 million was used to refinance a mortgage loan while the remaining $2.7 million was deposited into JLC Advisors’ client’s account, which is unclear whether Jeffery had withdrawn from or not.
Today (6 June 2019), he appeared in court via video link from Central Police Division—it’s unknown why he wasn’t in court personally.
His case has been adjourned to 13 June 2019.
Now, for the February case, he’s looking at a jail term of up to 10 years—and that’s for $6 million (or $2.7 million).
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One can only wonder how the $33 million case would pan out.
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