He also has 14 other cheating charges that were taken into consideration for the purpose of the sentencing.
The Monetary Authority of Singapore (MAS) has issued a 12-year prohibition order against Ong Ka Yong for cheating offences.
Ong, a former representative of Manulife Financial Advisers Pte. Ltd., was convicted of 11 counts of cheating under section 417 of the Penal Code on Aug 23, 2023. Under the code, cheating is punishable by imprisonment or a fine, or both. The term for imprisonment may extend to three years.
