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Wednesday, November 19, 2008

How I was misled (3)

Dear Mr. Tan
I wish I had read your blog before purchasing my pinnacle notes series 6 last year.

The picture painted by the sales representative was so good, I was convinced it was a great investment. I even encouraged my two daughters to invest their hard earned savings, something I have not stopped regretting since the downturn.

On hindsight, I should have realised that there were some things that were not so right. The prospectus was not shown to me although it was sent to me much later, by post, after I had closed the deal. I tried to read it, but the technicality floored me. So many pages of fine print. The copies of the agreement were not sent to me either.

When I called the representative's mobile, he didn't answer my calls. Then I called his office at H and discovered that he had left. Subsequently, the manager very kindly did a trace and delivered the copies by hand to me. By then I had managed to read some of the stuff in the prospectus and realised that I could lose all my money as it was not capital protected. It was too late to do anything except pray, but it looks like prayers didn't help.

I don't know if there is anything left of what we invested. Is there anything that can be done? I have left out the names of the people as I don't know if I should at this stage. I hope you can help in some ways.
Sincerely,

Mary

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