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How a woman lost $200k after investing in complex financial product
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SINGAPORE – An investor keen to earn a bit more interest ended up losing all her $200,000 savings after she was swayed into buying a complicated financial product she did not understand.
The woman, a 58-year-old customer service employee earning $3,000 a month, wanted to put the inheritance from her late husband into a fixed deposit but was convinced by a bank sales representative to consider “other products that could give a better interest rate”.
