$150,000 stolen from Chinese worker - Any chance of recovering?

Discussion in 'Legal' started by Aaron MB, Oct 25, 2017.

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  1. Aaron MB

    Aaron MB UKBF Newcomer Free Member

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    Hello,

    I have been working with a person in China for the past 3 years. He sources products for me and we had developed a close working relationship.

    I foolishly paid money into a Hong Kong company bank account that he had control over (I do not), as he had been making payments to the suppliers this way.

    It's a long story, but gearing up for Christmas, there had been around $150,000 in this account that was meant for stock purchases. He confessed and ultimately said he blew it on gambling and wants to get a second job and pay me back.

    I'm not expecting repayment but if it happens I'm not going to stop it.

    My question is whether anyone thinks I would have a case here.

    I had purchase invoices with the suppliers, not this individual. The HK company I paid into is not related to these suppliers. I don't have a written contract with this worker of mine, although I have many emails that make it clear what his role is.

    I either consider it an expensive lesson, or try to go down the legal road, but I'm wondering what, if anything, can be done. Especially if he truly did spend the money and he has nothing.

    Would appreciate any advice or contacts. I have contacted a couple international Chinese lawyers and am waiting response.

    Thanks,
    Aaron
     
    Posted: Oct 25, 2017 By: Aaron MB Member since: Oct 25, 2017
    #1
  2. Gordon - Commercial Finance

    Gordon - Commercial Finance UKBF Ace Free Member

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    VERY expensive one.
    For that amount of money, I think you have to pursue it however you can....
     
    Posted: Oct 25, 2017 By: Gordon - Commercial Finance Member since: Jun 26, 2017
    #2
  3. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

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    I agree. I can recommend a solicitor if you like - it's definitely worth an initial view given the sums involved.
     
    Posted: Oct 25, 2017 By: Lisa Thomas Member since: Apr 20, 2015
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  4. Aaron MB

    Aaron MB UKBF Newcomer Free Member

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    Thanks for the thoughts, much appreciated.
    Lisa I'd be happy to take your recommendation, you can post here or PM if you'd like.
    I'm trying to speak to a few solicitors just to get an idea if there is anything that can be done.
     
    Posted: Oct 25, 2017 By: Aaron MB Member since: Oct 25, 2017
    #4
  5. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

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    I have PM'd you.
     
    Posted: Oct 26, 2017 By: Lisa Thomas Member since: Apr 20, 2015
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  6. Chris Ashdown

    Chris Ashdown UKBF Legend Free Member

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    My first thoughts would be to send a registered letter to the head of Police in his town with the full information and also a note to your suppliers

    The police may well interview him and a remote possibility freeze his bank account

    Maybe the UK consulate in china may help or advise you of your options

    Imagine a UK solicitor will just cost money, maybe better to save the money and buy a ticket to fly out and see if anything can be saved
     
    Posted: Oct 26, 2017 By: Chris Ashdown Member since: Dec 7, 2003
    #6
  7. GraemeL

    GraemeL Pain in the neck? Full Member - Verified Business

    5,035 1,079
    The first job being working for you?
    Addicts just dont recover overnight.
     
    Posted: Oct 26, 2017 By: GraemeL Member since: Sep 7, 2011
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  8. rookielegal

    rookielegal UKBF Newcomer Free Member

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    You need to act fast if you want to save any unused amount. However, as a foreign corporation, you cannot act for your corporation unless you apply to the court and received approval to represent your company. Most foreign corporations will either have representation (via a solicitor/a solicitor-advocate).

    If the funds are gone, you should review your account authorization instructions with the bank. Most likely you had already provided authorization for account access, but you should bring it to a qualified solicitor and have the agreement vetted out and get new instructions for account access.
     
    Posted: Oct 27, 2017 By: rookielegal Member since: Oct 26, 2017
    #8
  9. Aaron MB

    Aaron MB UKBF Newcomer Free Member

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    rookielegal: The foreign HK company is not owned by me unfortunately, which makes it even worse.

    A solicitor in China said the best option may be to sue that HK company and shareholders, but I'm waiting for more information. He mentioned getting money from the mainland is challenging...

    GraemeL: Yes I'm not expecting any paying back, but if it happens I will take it. He's definitely not getting any payments from me anymore.
     
    Posted: Oct 28, 2017 By: Aaron MB Member since: Oct 25, 2017
    #9
  10. rookielegal

    rookielegal UKBF Newcomer Free Member

    15 1
    You probably already know that HK still uses the common law system. If the branch company you dealt with is incorporated from China, then yes you may get your money back, but probably there'll be tons of fees paid to the govt and the solicitor. If this happened in HK and the company you are trying to sue is in HK, they still use the same legal system as the UK (at least until 2047...).
     
    Posted: Oct 28, 2017 By: rookielegal Member since: Oct 26, 2017
    #10
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