Createwealth8888: In forex, losses can be really huge due to its nature of high leverage being used
Read? Investor to pay $1.6M to bank after losing lawsuit.
By GRACE LEONG
(SINGAPORE) For years, two relationship managers assured a client that his investment portfolio was doing well and that he had a balance of around $8 million in his account.
In fact, the net value of the investment account stood at only $252,652 on Aug 12 this year. The rest had been frittered away by the relationship managers at Societe Generale Bank & Trust in Singapore because of alleged unauthorised forex trades, according to a lawsuit filed at the Singapore High Court yesterday.
To cover up the losses, they fed the client with bogus statements, the lawsuit claimed.
Japan’s Top FX Diplomat Kanda: G7 statement reconfirmed commitment on forex
stance put forth by Japan
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Japan’s top currency diplomat Masato Kanda said on Thursday that the G7
statement reconfirmed commitment on forex on the back of the stance put
forward by ...
59 minutes ago
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