DBS financial advisers sold DBS High Notes 5 to investors like myself as 'growth' products without explaining the risk. I received a call from my relationship manager to say that my investment in DBS High Note 5 was affected by the bankruptcy of Lehman Brothers and that, potentially, I will receive nothing in return for the investment.

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Rebecca, your so called relationship manager(stupid title) is definitely unable to answer your questions. Let me put it in perspective. The 3 "experts is also unable to convince you why you are left with nothing. So all 4 of them confuse and con you wholesale. DBS High Note 5 left you and other investors High and Dry instead of giving you a "High" 5.

got another story from three ladies who worked in some bank ( name refrained),and this is what they have to say...

Last time, long time ago...it was the uneducated get con by the educated.
Now is .... the educated being con by the better educated by using something more complicated.

Con people everywhere lah.

Who will make money and put it into your pocket so easily lah?

When I put any of my money into something, I have this stand:

Kiss it goodbye.

If I get it back, it is a bonus. I thank God, the Creator, for it.

If I don't get it back, I am not stressed. I thank God, the Creator, for it.

Do you know why? It is in my GP and AP practices to understand that everything on earth is the Voice of the ........riding on the Divine Principles of Cause and Effect. As you plant, you will Reap naturally.

For newcomers, please google the 'Glad Game' for GP as a starter.

next time these bank con crooks pester you to buy this financial product saying how safe and how good it is - tell these soliciting banks off by shouting 'Remember how you swindled us in Lehman Brothers?!!!" No need to give face anymore. Believe nothing. There are still some of these convoluted things being sold even now.

What was sold is an insurance policy by the investors
This is how it worked
The investors money 500 M was taken by MiniBond Ltd who bought 500 M securities and Lehman took over these securities and insured then for a premium in case these securties faulted.The 5% yield to the investor was actually an insurance premium Lehman paid to insure the 500 M from crdit event meaning a default. Since Lehman is now bankcrupt they cannot pay the 5% and also the 500 m is lost
The question is Was the investors advise what they were selling , note selling and not buying because the 500 M invested was a right to sell protection to Lehman who took over the 500 M for other complex investments which is too detailed to explaain

No one in the banks understood what is a minibond and the name was misleading because the investors were perhaps told they were buying a bond and some reference to 6 leading banks,these 6 banks has nothing to do w the Mini Bonds as they were simply involoved w Lehman in other securtieis
The banks who sold these MiniBonds will have to be questioned if they understood what they had offered and what their officer said to the investor. This is a classic case of the blind leading the blind and there should be recourse to the investors as the banks breached their fidicuary responsibilities This is a worse case than Raffles Town Club and legal recourse is recommended

Wednesday, September 24, 2008
DBS "High Note 5" Investors feel cheated.....

"Ms A, said she had informed MAS of her plight but 'they do not seem to have acted at all'. 'My question for them is, should they have even allowed the product to be sold? And what are they going to do about it now?" [LINK]

Regulator ....please regulate.

Isn't time to investigate? Thousands have lost their lifesavings and they feel cheated because the products have been possibly mis-sold to them by so called relationship managers. If that is the case, rules have been broken and it is time for the authorities to act. Are the authorities waiting to see if they can get by doing nothing? Very world class of them.....


Right now in Hong Kong, lawmakers are getting ready to sue the banks for misselling the Lehman minibonds to retirees. There seem to be a big difference how the people in Hong Kong organise to protect themselves in times of trouble. Everyone in Hong Kong is mobilised to see what can be done to help the investors who were sold these products - these include the Consumer council, HKMA, and political leaders.


"What really frustrates me is the subdued response from MAS. As the financial watchdog, I think it has been extremely reactive and it has so far distanced itself from blame"-Mr Peter Lim, a Minibonds investor

In Singapore, the govt doesn't help you - you have to help yourself. My suggestion is to file a police report if you feel that there is mis-selling and mis-representation. I don't see how the authorities can sit around with several hundred of such complaints are made....

http://sgblogs.com/entry/high-note-i...cheated/237134

DBS is cheng-hu one leh. Cannot be too harsh on kar-kee-nang leh.