Ex-Sakae Holdings director said to have misappropriated $15.8 million from joint venture

SINGAPORE - Former Sakae Holdings director Andy Ong Siew Kwee went on trial on Monday over the allegedSakae Holdings is a Singapore-based food and beverage company that runs the Sakae Sushi chain.

Ong faces a total of 69 charges. The 52-year-old is contesting three charges, including criminal breach of trust, abetting the forgery of a lease agreement, and intentionally giving false evidence in the High Court.Ong’s two co-accused, Ho Yew Kong and Chris Chua Wei Tat, are on trial for one charge each of intentionally giving false evidence in the High Court.

He was also a director and minority shareholder of investment holding company Gryphon Real Estate Investment Corporation .

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