Singapore's richest Oei sue Citi for trading losses
Source: Internet
Author: User
Beijing time May 19 morning news, according to The Straits Times of Singapore reported in Tuesday, Singapore's regal Oei (Oei Red Leong) sued Citigroup (hereinafter referred to as "Citi") private banking sector negligence and misrepresentation, so that he last year foreign exchange and bond trading losses of 1 billion yuan (about 684 million U.S. dollars). Oei's relationship with Citi has been going on for 30 years. He said in his lawsuit that the information Citi had given him about the exposure to the deal was always inaccurate, making him take greater exposure. Oei reportedly declined to comment on the lawsuit. "We think this statement is worthless and we will have a strong defence," a Citi spokeswoman said in an e-mail to Reuters. But he declined to comment more. (Ning String)
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