DBS Bank tells investors that they could lose their entire stake
SOME local investors of a product linked to bankrupt investment giant Lehman Brothers have received late-night phone calls from DBS Bank warning them that their entire stake may be wiped out.
The investors have their cash in a product called DBS High Notes 5 that the bank offered wealthier clients last year. It came with promised annual return of about 5 per cent.
But Lehman's collapse on Monday means the product will be unwound and investors may only get a portion of their investment back - or none at all.
Read Francis Chan's full story in Thurday's edition of The Straits Times.
