Retiree sues Credit Suisse over $1.6 million in investment losses

Madam Janet Tay's lawsuit centres on the role and duty of care expected of the bank. ST PHOTO: MARK CHEONG
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SINGAPORE - A 68-year-old retiree is suing Swiss bank Credit Suisse in Singapore for US$1.2 million (S$1.6 million) over trading losses when the share market tanked in 2020.

Madam Janet Tay said the bank's relationship manager had under-reported the amount of shortfall in her account, which resulted in a delay in selling her shares to cover the gap. By then, the price had fallen further.

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