Associate Director
Jason Teo
Jason has a broad commercial and financial litigation and investigations practice. His keen interest in technology and cross-border commercial fraud matters has seen him act for the successful claimant in B2C2 Ltd v Quoine Pte Ltd, a landmark Singapore judgement involving cryptocurrency trades executed autonomously by algorithmic trading software. He was also part of the team that acted for the liquidators of Torque Holdings Ltd, a cryptocurrency investment fund, in successfully securing worldwide freezing injunctions exceeding $200 million in value against former company officers arising from the misappropriation of crypto assets.
Jason also has considerable experience acting for major financial institutions in complex disputes and investigations, including in relation to employee claims, fraud and misconduct, and defaults and special situations arising in the context of debt and equity financing.
Jason is a member of ICC Fraudnet Future, a worldwide network of leading lawyers who specialize in asset tracing and recovery, and was selected to the Supreme Court Young Independent Counsel scheme in 2023. As Young Independent Counsel, he was called on to make submissions in three separate matters before the Supreme Court, including on issues concerning the status of cryptocurrency as money in Singapore law, and insolvency claw-back claims in the context of an alleged Ponzi scheme.
Jason's Representative Experience
Acted for the liquidators of Torque Group, a major cryptocurrency investment e-platform, in investigations and claims relating to the misappropriation of cryptocurrencies valued at over $300 million.
Acted for a Russian bank in a $200 million claim involving fraud and asset recovery, which encompassed proceedings in Singapore, Cyprus, Belize, Russia, and the BVI.
Acted for over 1,000 investors in relation to a $200 million investment scheme emanating out of Canada, in Singapore’s first mega-litigation claim involving assignment of claims to an SPV.
Acted for B2C2 Ltd, one of the world’s largest market makers in digital currencies, in proceedings before the Singapore International Commercial Court in a dispute involving allegations of manipulation via algorithmic trading and misappropriation of bitcoins. This was the first action in Singapore involving the trading of digital currencies.
Advised on alleged violations of North Korean sanctions and alleged laundering of funds for North Korea, as well as related OFAC sanctions.
Acted for a leading telemedicine operator in Southeast Asia, defending claims in relation to its acquisition of a TPA services provider.
Acted for a distributor of specialised communication cables in defending alleged defect claims brought by a contractor arising from a runway redevelopment project at Changi Airport, involving complex third-party proceedings commenced against the cable manufacturer.
Acted for a major US financial institution in successfully striking out claims brought by investors in a collapsed bond underwritten by the institution.
Acted for an international private bank in investigations and defending claims brought by several clients in relation to an alleged fraud perpetrated by a former employee of the bank.
Acted for a brokerage in investigations and defending claims brought by a client in relation to alleged unauthorised trading activity carried out on his account.
As Young Independent Counsel, appointed by the Supreme Court to make submissions on novel questions of law in:
Algorand Foundation Ltd v Three Arrows Capital Pte Ltd, before Justice Vinodh Coomaraswamy, on issues including the status of cryptocurrency as money for the purposes of certain provisions of the IRDA;
Envy Asset Management Pte Ltd (in liquidation) and others v CH Biovest Pte Ltd [2024] SGHC 46, before Justice Goh Yihan, on issues concerning the right to retain profits paid out by the collapsed perpetrators of an alleged Ponzi scheme; and
Koh Lian Kok v Public Prosecutor [2024] SGHC 132, before the Chief Justice Sundaresh Menon, Judge of Appeal Steven Chong, and Justice Vincent Hoong, on the development of sentencing benchmarks in an offence involving breaches of the Workplace Safety and Health Act.
*The representative cases above include matters which our lawyers worked on in other firms prior to Setia Law LLC.
