Language firm sues founder for US$3m

PUBLISHED : Thursday, 22 January, 2009, 12:00am
UPDATED : Thursday, 22 January, 2009, 12:00am
 

A mainland company that offers online English training, 100e.com Inc, is suing its founder and chairman John Wang to recoup the US$3 million it said it had loaned him, according to a writ filed in the High Court this week. The company said it transferred the money to Mr Wang's bank account on January 9, but he had not accounted for its whereabouts, breaching his fiduciary duty to the company. The company is also seeking damages for deceit.

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