In a statement, SPF said Jeffrey Ong, a 41-year-old lawyer with JLC Advisors LLP, had been charged in relation to the alleged misappropriation of the money.

It said a police report was lodged on the matter on May 21.

“The police subsequently sought the assistance of the Royal Malaysia Police (RMP) to locate and arrest Jeffrey Ong, who had left Singapore before investigations commenced.

“With the cooperation and assistance of the RMP, Jeffrey Ong was arrested and brought back to Singapore on May 30,” SPF was quoted as saying in Singapore paper TODAYonline.

FMT has contacted the police and is trying to obtain further details on the arrest.

Ong was charged in court on June 1 with one count of cheating and remanded for further investigations.

The lawyer reportedly went missing after engineering firm Allied Technologies said in a Singapore Exchange (SGX) filing on May 23 that it was making a police report.

Allied Technologies also reported the case to the Law Society of Singapore and “commenced legal proceedings” after being told by JLC Advisors that the RM100 million from the account may have been paid out under Ong’s instructions.

According to TODAYonline, the charge sheet showed that on Feb 19, Ong allegedly deceived a company called CCJ Investments into believing that another entity called Suite Development had entered into a loan agreement with it.

Ong was said to have “dishonestly induced” CCJ Investments to disburse a sum of S$6 million. Some S$3.3 million was then used to refinance Suite Development’s mortgage loan and about S$2.7 million was deposited into the client account of JLC Advisors.

The maximum sentence for cheating is 10 years’ jail and a fine.

SGX RegCo, which is the regulatory arm of SGX, has said that it will object to any future appointment of Ong as a director or executive officer of any company listed in Singapore.

SGX said Ong had resigned as the independent director and acting non-executive chairman of Annica Holdings on May 20 due to personal reasons.