Ex-execs of CW Group, Allied Tech charged with offences linked to lawyer’s S$76 million misappropriation
Wong Koon Lup and Kenneth Low have pleaded not guilty, and are out on bail
Singaporeans Wong Koon Lup and Kenneth Low, former CEO of CW Group and executive director of Allied Technologies, respectively, have been charged with conspiracy and various offenses linked to the alleged misappropriation of S$76 million by lawyer Jeffrey Ong's former firm, JLC Advisors. At their arraignment on Sep 23, both pleaded not guilty and were released on bail - Wong with S$280,000 and Low with S$300,000.
Ong, the lawyer involved, was previously sentenced to 19 years in jail for stealing S$76 million in 2023. CW Group and Allied Technologies, both delisted since the incident, had escrow arrangements with JLC, which served as their escrow agent. Low's five charges involve abetting Ong to commit breach of trust and forging his partner Vincent Lim's signature on DBS cheques totaling S$11.7 million.
Wong faces 18 charges in total, allegedly related to the misappropriation of Allied Tech's escrow funds. Their pre-trial conferences are set for Oct 27.
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