In the Courts (2023): Lawyer fined BND5,000 after failing due diligence (17.10.2023)
 Posted on : Oct 18, 2023, 1:06PM   19 total views  Category : Local News

A lawyer was penalised for failure in his duty to uphold the interest of justice by the Law Society while representing a client in an investment contract.

 

Counsel Lieutenant Colonel (Rtd) Haji Harif bin Haji Ibrahim was fined BND5,000 by the Law Society Disciplinary Committee, as well as ordered to pay BND13,000 in cost after the disciplinary committee found that the counsel failed in his duty. The counsel also failed to advise an investor to seek independent legal advice during an investment contract, while knowing the investment was risky, according to the committee.

 

In June 2016, Haji Harif had prepared a capital funding agreement for Haji Razlizam bin Haji Mahal’s meat importing business. The deal was for a BND75,000 investment to be made by Pengiran Haji Abu Bakar into the business, with a promised return of BND175,000. The agreement was signed at the counsel’s office in June 26, 2016.

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-- Courtesy of Borneo Bulletin

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