Landing page banner

Wong Koon Lup (“Wong”), former Chief Executive Officer and Chairman of CW Group Holdings Limited (“CW Group”), a company previously listed on the Stock Exchange of Hong Kong Limited, and Low Si Ren Kenneth (“Low”), former executive director of Allied Technologies Limited (“Allied Technologies”), a company previously listed on the SGX Catalist, were charged in court on 23 September 2026 with various offences under the Penal Code (“PC”).

The charges against Wong and Low follow the earlier conviction of Ong Su Ann Jeffrey (“Ong”), former Managing Partner of JLC Advisors LLP (“JLC)¹. At the material time, CW Group and Allied Technologies maintained escrow facility arrangements with JLC, which acted as their escrow agent. These arrangements 

form the basis of the majority of charges faced by Wong and Low. 

Wong faces 24 charges, as follows:

• 13 charges under Section 409 read with Section 109 PC for engaging in a conspiracy with Ong to commit criminal breach of trust as an attorney, misappropriating more than $24 million held in CW Group’s escrow facility with JLC; 
• Three charges under Section 408 PC for criminal breach of trust, for misappropriating approximately $17 million belonging to CW Group and its subsidiary, CW Advanced Technologies Pte Ltd; 
• One charge under Section 417 read with Section 109 PC for engaging in a conspiracy with Ong and another person to conceal from CW Group’s board of directors the misappropriation of the company’s escrow monies; 
• Four charges under Section 417 read with Section 109 PC for engaging in a conspiracy with Ong to provide false audit confirmations to CW Group’s statutory auditor, Ernst & Young Solutions LLP (“EY”), in relation to CW Group’s escrow facility with JLC;  
• One charge under Section 417 read with Section 109 PC for instigating another person to provide a false audit confirmation to EY; and
• Two charges under Section 477A read with Section 109 PC for instigating his finance staff members to falsify CW Group’s financial statements.
  
  

Low faces five charges as follows:

• Four charges under Section 409 read with Section 109 PC for engaging in a conspiracy with Ong to commit criminal breach of trust as an attorney, misappropriating more than $11 million held in Allied Technologies’ escrow facility with JLC; and
• One charge under Section 467 read with Section 109 PC for engaging in a conspiracy with Ong to a forge a cheque.²

If convicted, Wong and Low face:

1. Imprisonment of up to 15 years and a fine for each charge under Section 408 PC; 
2. Imprisonment of up to 20 years and a fine for each charge under Section 409 read with Section 109 PC;  
3. Imprisonment of up to three years, or a fine, or both, for each charge under Section 417 read with Section 109 PC;  
4. Imprisonment of up to 15 years and a fine for each charge under Section 467 read with Section 109 PC; and  
5. Imprisonment of up to 10 years, or a fine, or both, for each charge under Section 477A read with Section 109 PC. 

¹In July 2023, Ong pleaded guilty to and was convicted on 10 charges relating to cheating and criminal breach of trust, with 66 other charges taken into consideration for the purposes of  sentencing. The charges for which Ong was convicted on involved more than $55 million belonging to the clients of JLC, including CW Group and Allied Technologies. Ong was sentenced to 19 years’  imprisonment on 17 July 2023.

²Low was the executive director of Allied Technologies during the material time for the forgery charge, but not the misappropriation charges.