Possibility of rules for escrow accounts after probe of JLC Advisors over missing $33m: Law Society

Concerns about escrow accounts have drawn traction after about $33.2 million belonging to Catalist-listed Allied Technologies went missing last month and JLC's managing partner remained incommunicado.
Concerns about escrow accounts have drawn traction after about $33.2 million belonging to Catalist-listed Allied Technologies went missing last month and JLC's managing partner remained incommunicado.PHOTO: ST FILE

Law Society will explore this after probe of JLC Advisors over missing $33m is completed

The Law Society may consider introducing rules and guidelines for operating escrow accounts after it completes its probe of law firm JLC Advisors.

Concerns about escrow accounts have drawn traction after about $33.2 million belonging to Catalist-listed Allied Technologies went missing last month and JLC's managing partner Jeffrey Ong Su Aun remained incommunicado.

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A version of this article appeared in the print edition of The Straits Times on June 01, 2019, with the headline 'Possibility of rules for escrow accounts'. Print Edition | Subscribe