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05-02-2015, 02:00 PM
An honorable member of the Coffee Shop Has Just Posted the Following:
SINGAPORE - A former bank officer was sentenced to 11 months in prison on Thursday for cheating three customers into investing a total of $1.17 million in unit trusts, claiming they were principal-guaranteed.
Too Jincai, 31, was a relationship manager with United Overseas Bank at the time.
The three had wanted to place their money in fixed deposits at the UOB branch at Ang Mo Kio Hub but Too convinced them to buy other financial products instead.
He admitted to cheating housewife Wong Mee Foong, 60, by convincing her to buy $20,000 worth of the United Emerging Markets Bond Fund on July 2012, and retiree Lye Choh Hwa, 67, into buying $1 million worth of the same fund in November that year.
- See more at: http://www.straitstimes.com/news/sin....KuwoSF8u.dpuf (http://www.straitstimes.com/news/singapore/courts-crime/story/ex-relationship-manager-gets-11-months-cheating-bank-customers-201#sthash.KuwoSF8u.dpuf)
Click here to view the whole thread at www.sammyboy.com (http://sammyboy.com/showthread.php?199826-Ex-relationship-manager-gets-11-months-for-cheating-bank-customers&goto=newpost).
SINGAPORE - A former bank officer was sentenced to 11 months in prison on Thursday for cheating three customers into investing a total of $1.17 million in unit trusts, claiming they were principal-guaranteed.
Too Jincai, 31, was a relationship manager with United Overseas Bank at the time.
The three had wanted to place their money in fixed deposits at the UOB branch at Ang Mo Kio Hub but Too convinced them to buy other financial products instead.
He admitted to cheating housewife Wong Mee Foong, 60, by convincing her to buy $20,000 worth of the United Emerging Markets Bond Fund on July 2012, and retiree Lye Choh Hwa, 67, into buying $1 million worth of the same fund in November that year.
- See more at: http://www.straitstimes.com/news/sin....KuwoSF8u.dpuf (http://www.straitstimes.com/news/singapore/courts-crime/story/ex-relationship-manager-gets-11-months-cheating-bank-customers-201#sthash.KuwoSF8u.dpuf)
Click here to view the whole thread at www.sammyboy.com (http://sammyboy.com/showthread.php?199826-Ex-relationship-manager-gets-11-months-for-cheating-bank-customers&goto=newpost).