With the exception of a charge of forging a signature, the remaining charges today are all related to his misappropriation of funds totalling $33,839,674.97 belong to Allied Technologies.
The funds were held in an escrow account managed by JLC Advisors, where Ong was managing partner.
He allegedly misappropriated the money, in sums ranging from $62,530 to as high as$12.2 million. The offences mainly took place between Oct 31 2017 and Dec 28 2017.
The outlier was a sum of $9,967.10 allegedly misappropriated much later, on Aug 27 2018.
Ong is also accused of forging the signature of one Vincent Lim Puay Chong, a partner at JLC Advisors as well. He 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.
