Stefanie Yuen Thio comments in ST: “Possibility of rules for escrow accounts after probe of JLC Advisors over missing $33m: Law Society”

Stefanie Yuen Thio was quoted in a follow up story on Allied Technologies’ S$33 million in funds gone missing from an escrow account managed by JLC Advisors, with the latter’s managing partner Jeffrey Ong now uncontactable. The article, published in the 1 June 2019 edition of the Straits Times, reports on the Law Society’s considering whether to introduce rules and guidelines for operating escrow accounts after it completes its probe of the law firm.

Stefanie Yuen Thio said: “An escrow account is treated as a client’s account when it is deposited with a law firm and clients’ account rules will apply.”

The story may be found here: https://www.straitstimes.com/singapore/possibility-of-rules-for-escrow-accounts

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