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Retiree sues UOB over $1.15m in investment losses

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Under dispute is whether Madam Tan Swan Choo was tricked into a bad investment or was a competent investor who knew what she was getting into.. Read more at straitstimes.com.

A 72-year-old retiree is suing United Overseas Bank and a former relationship manager at the bank after suffering losses totalling $1.15 million.

Madam Tan Swan Choo said she was deceived by Mr Keigo Lam Yew Kai into believing she had put her money into investment vehicles sanctioned by UOB, when they were in fact unsecured loans to Broadwell, a company incorporated in the British Virgin Islands.Enjoy unlimited access to ST's best work Subscribe Now

 

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