Dear all,
After seeing these facts, it is clear that in many cases there was some level of "misrepresentation" and agressive selling to clients with a very low risk profile.
I guess we will await what happens with MAS (and maybe HSBC as the trustee for Minibonds) but it may be a good idea to be prepared on taking the "legal route" in addition to the petition which was an excellent move.
Mr. Tan Kin Lian,
With your tremendous experience coupled with the spirit to help, we will very much appreciate your advice and recommendations. Speaking for myself, I am prepared to pool in my time and resources .
Thanking you in anticipation, Regards
REPLY
I hope that MAS will help the investors in this matter.
If MAS does not help, the investors will have to take collective legal action. I will try to look for a lawyer who is willing to act for the investors. Most of the large legal firms have existing connections with banks and are not able to act for the investors. This is a sad state of affairs.
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