Sample letter of complaint

Here is a sample letter of complaint sent to the CEO of a financial institution. I have removed the name of the financial institution and the financial adviser.

Hi Sir/Mdm,

I have invested in minibond Series 7 in your Y Branch during dec 2007 with the help of your financial adviser, Z. On the evening I met up with Z, I told her I want a risk free product because I cannot afford to lose. At first she suggested I take up another plan which is not the minibond and told me is safe and show me the graph on the investment that it has been making money for the past 10 years. I ask her is there any risk, she told me LOW RISK. I told her I am not a risk taker. She then told me if you don't want risk then go for the minibond.

I ask her what is minibond, she show the statement as attached of page 3 that these are the 6 companies you are investing in. I took a good look at the 6 companies and ask Z to explain to me who are them. She explain to me what are the companies doing and the history of them. She then told me unless any 1 of the 6 companies go bankrupt, it will not affect my investment. I even ask her what if they are not doing well, she told me it doesn't matter, you are not buying their stock. YOU ARE BUYING THEIR BONDS AND LENDING MONEY TO THEM.

She also pointed out to me IT IS APPROVED BY MAS and show me page 1 of the statement. I ask her to show me which part of statement shows the risk, she show me page 4 and told me it is written black and white your full investment amount is at risk should any one of the reference entities experience a credit event. With all her words and the statement she show me on page 4, I understand and accept the risk and I sign on the paper.

Recently, Lehman Brothers experienced a credit event, at that point of time I still do not know I got affected. Until AIG nearly go on a credit event, I called her and I was shock when she told me that was I affected. She told me all my funds are frozen, I ask her why, since AIG is not bankrupt. She then told me Lehman Brothers is the arrangers for the note. I don't even know who is Lehman Brothers and I only remember the 6 companies I invested in. Why is Lehman Brothers in the picture only when things happen and did not tell me EVEN LEHMAN BROTHERS GO BANKRUPT AND NOT JUST THE REFERENCE ENTITIES, my investment will get affected when I bought the ' BONDS '.

After which, I found out what I actually invest in, is not even bonds. It is a synthetic derivative created by lehman to insure against the default of debt to the reference entities, which is totally different from what she told me when I purchase them. She did not call me when my funds go frozen and I have to call her for the updates and all she told me is trustee have not get back to her.

I demand a compensation for being misled on the nature of the notes.