Jeffrey Ong Su Aun, the 41-year-old lawyer who disappeared after a $33 million escrow payment had gone missing has recently been arrested and returned to Singapore. The government asked help from the Royal Malaysian Police to secure Jeffrey, after investigations showed that he fled to the neighboring country. He has been returned to Singapore to stand trial for the million-dollar case.
Jeffrey is a partner of JLC Advisors in Singapore, a top law firm that handles corporate and business cases that have transactions that go up in the high millions. He is currently being accused of cheating in front of the courts as of May 30.
What is Jeffrey Ong Su Aun’s case about?
According to our previous report, Jeffrey’s case involved the missing payment put in escrow by Allied Technologies, who contracted the firm Jeffrey belonged to to handle the extremely large transaction. Putting a payment in escrow means the money is kept in the account until the payment is to be made, and the depositor cannot recover the money unless stringent requirements are met to cancel the escrow.
A report by the The New Paper shows that Jeffrey went missing days before an investigation into the $33 million missing sum started. Allied Technologies had put the money in the account and contracted JLC Advisors in October 2017. But as of March 23, Allied Technologies has asked the firm for repayment of the amount repeatedly, but without success.
Another case in the millions?
In February 19, Jeffrey had allegedly disbursed $6 million illegally, deceiving a separate firm called CCJ Investments. In this case, the payment was made to look like it had entered into a loan agreement with Suite Development.
The same report said that, “About $3.3 million was allegedly used to refinance Suite Development’s mortgage loan, and about $2.7 million was deposited into the client account of JLC Advisors,” which cited court documents as sources.
The court case is unclear on whether the CCJ Investments and Suite Development case is linked to the Allied Technologies matter.
Jeffrey was arrested last May 30 thanks to the Royal MAlaysian Police, and he has since been remanded. He could face up to ten years in jail if he is proven guilty of cheating.
Who is Jeffrey Ong Su Aun?
A previous report by Alvinology shows that Jeffrey is a high-profile lawyer for JLC Advisors who has a rich work experience in his field of corporate law. He also sits on the board of various companies, but with the new case development, it is unclear whether he will remain in those positions.
Jeffrey has practiced in England, where he was the solicitor of the Supreme Court in 2006.
One case that he’s handled was valued up to $140 million, with the claim involving misrepresentation and complex financial structured products. The case was a company against an international investment bank.
Is he like DJ Jade Rasif’s father, Jade Rasif?
Similarities with the case of David Rasif have been drawn among netizens, citing that another high-profile lawyer has made off with millions. DJ Jade Rasif’s father has yet to be found, though, while Jeffrey Ong Su Aun has been caught and can be called to account.
Header image from Shutterstock, barbed wire and Singapore flag.
