The Contract by fanzhongqing


									The Contract

I assisted The Hour Glass Limited of Singapore establish their Australian retail operations and was
instrumental in building a successful national and global private client network for the company. After 8
years with The Hour Glass I was approached by the managing director of Swiss Time Australia to help
establish a new exclusive Swiss watch retail group in Australia and New Zealand. It was to be called
Watches of Switzerland.

Swiss Time Australia, at that time, was the wholesale agent in Australia and New Zealand of Tag Heuer,
IWC and Oris Swiss watches. After consultation with a close friend, mentor and recognized successful
businessman, I put forward an offer to the managing director of Swiss Time Australia. The offer included a
salary, accommodation, car, related expenses, a share of the new business net profits, and 10% equity, at
no cost, growing up to 25% of the business, based on deliverable results by year three. My offer was
accepted immediately with a handshake over lunch, followed by “the contract” signed within hours and
dated 26 March 1997.

Having known the managing director for at least 10 years prior I signed “the contract” in good faith and did
not seek legal advice before signing. By the third year of my employment at Watches of Switzerland had
opened 5 new stores with excellent growth and strong profits stemming from the first investment. Those
that know me know precisely how much I contributed to the group’s outstanding performance. During year
three of my employment, the managing director of Watches of Switzerland did not act on his responsibilities
or obligations as set out in “the contract”.

My delivered results

I was informed by the managing director of Watches of Switzerland during the fourth year of my
employment that the business would be put on the market. The asking price was estimated at 16 million
dollars. I was asked to facilitate one offer to my previous employer, the co-founder of The Hour Glass group
of Singapore. The Hour Glass limited was the largest Swiss watch retail group in the world.

Frustrated with the failed action of my employer, I resigned at the home of my employer on or about 26
November 2001. This was towards the end of my fourth year of employment. My personal mobile phone
service that I had owned for over 10 years was cut during this time by the managing director of Watches of
Switzerland. This act was witnessed by my close friend and mentor.

The wonderful working relationship and friendship soured over the coming weeks with the managing
director of Watches of Switzerland. My entitlements as outlined in my contract were not acted upon on the
final days of my employment. During 2002 and 2003 I engaged the legal services of two leading Sydney
law firms against the managing director of Watches of Switzerland but was unable to continue due to my
weakened financial capacity.

The personal loan
With no options, on 15 July 2003 I obtained a personal loan of $100,000 from Mr. James Symond and 30
April 2004 a second personal loan of $170,000 from Mr. John Symond. Both were friends that had
witnessed my work ethic for nearly 15 years. I informed them that I intended to use the personal loans to
buy Swiss watches. I was too embarrassed to share with them my situation I had with my last employer.
The loans assisted me with my on-going legal costs, Swiss watch purchases of an estimated $115,000 and
general living expenses.

I hoped that during 2003 I would come to a settlement with the managing director of Watches of
Switzerland. This was not to be the case. On or about 27 November 2004 I met with the two close friends
who had loan me the mentioned loans. I presented them with two cheques and had their understanding
that they would not to bank the cheques. I informed them that I would not be in touch until I had the
capacity to return the loans.

Return of loan

On or about 16 December 2007, I made my first contact with Mr. James Symond by phone. I informed him
that I would have the capacity during 2008 to return the two loans. He was thrilled. He asked me to email
the offer and he would speak to Mr. John Symond. I sent the email offer. On 25 December 2007 I called Mr.
James Symond and it became clear during that call that Mr. John Symond did not want his money back.


I was arrested 6 months later in Indonesia by request of the Australian government to face two summary
charges in the Sydney local court. I was held for a period of 20 months in the dungeon cells of an
Indonesian jail. I arrived back to Australia and was advised by lawyers, “due to the extreme circumstances
of your detention and if I pleaded guilty to the 2 local court charges, I would be out in time for lunch”. No
previous run in with the law.

I simply wanted the nightmare to end and I needed to seek medical and other assistance. I took their
advice and was sentenced to a maximum sentence of four years. I appealed at the harshness of the
sentence and was released after been held in an Australian maximum security jail for 5 months.

Mr. John Symond’s Lie

With no forward progress after 15 months of my detention in Indonesia, I was advised to approach the
Australian Associated Press (AAP) to apply some media attention on my matter. Reluctantly I contacted the
AAP and they interviewed me in my cell. Days later the AAP interviewed Mr. John Symond whom stated on
public record that I did not offer to return the loans during communication with Mr. James Symond on 16
and 25 December 2007, when asked by the reporter. His response was; "Absolute rubbish, no way".

Phone records and Mr. James Symond truthful testimony will support my claims that were presented to the
Contents taken from presented court documents dated June 2011
-   AAP article
-   Australian Financial Review article
-   Sydney Morning Herald article

To top