Businessman lost $18m over 8 years as he didn't read investment documents

Entrepreneur FM Wang signed documents in both English and Chinese - not once, but eight times - during that period. PHOTO: UNSPLASH
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SINGAPORE - Entrepreneur FM Wang was success personified - chairman of a large manufacturing company in China that had 300 or more staff, the recipient of a $30 million buyout - yet when it came to his own finances he seemingly was not as astute.

He appeared to have dropped the ball when it came to looking after his money. He said that he never read most of the documents related to around US$18 million that he placed with a Singapore bank and had relied mostly on what the bank's relationship managers told him.

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