Lawyer appeals against court order to return $450,000 to investor

Lawyer appeals against court order to return $450,000 to investor

He owns a law firm and is a director of several businesses.

But Mr Ong Teck Ghee has found himself in a spot after claims against him were filed in court.

They involved business deals that allegedly turned sour. The first case, which is now under appeal, was over a proposed sale of smallpox vaccines to the Ministry of Health.

In the other case, a woman teacher has filed legal papers to have $1 million returned to her.

In a High Court decision in July, Mr Ong was ordered to return about $450,000 to Mr Teo Bee Tiong over the smallpox deal.

Mr Ong had told Mr Teo that he was a consultant for Bavarian Nordic A/S. An online search reveals a biotechnology company by the same name.

Mr Ong told Mr Teo of a project which purportedly was "the proposed sale of at least four million doses of third-generation (non-replicating) smallpox vaccines to the Ministry of Health in Singapore".

And he "expect(ed) to receive consultancy fees of about $20 million under the Consultancy Agreement if the sale (went) through".

In June 2010, Mr Teo paid him $450,000 under the investment agreement, which was for a period of 12 months and held that in the "unlikely event" that the project was not successful, Mr Ong would repay him the $450,000. Mr Teo was promised $900,000 if the project was successful.

But when the 12-month period expired, Mr Ong neither paid him $900,000 nor refunded the $450,000.

More about

Purchase this article for republication.



Most Read

Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.