Advertisement
Singapore markets close in 1 hour 17 minutes
  • Straits Times Index

    3,291.81
    +25.86 (+0.79%)
     
  • Nikkei

    38,229.11
    +155.13 (+0.41%)
     
  • Hang Seng

    18,965.23
    +427.42 (+2.31%)
     
  • FTSE 100

    8,426.34
    +44.99 (+0.54%)
     
  • Bitcoin USD

    63,217.90
    +1,814.70 (+2.96%)
     
  • CMC Crypto 200

    1,359.13
    +1.12 (+0.08%)
     
  • S&P 500

    5,214.08
    +26.41 (+0.51%)
     
  • Dow

    39,387.76
    +331.36 (+0.85%)
     
  • Nasdaq

    16,346.26
    +43.46 (+0.27%)
     
  • Gold

    2,373.70
    +33.40 (+1.43%)
     
  • Crude Oil

    79.73
    +0.47 (+0.59%)
     
  • 10-Yr Bond

    4.4490
    -0.0430 (-0.96%)
     
  • FTSE Bursa Malaysia

    1,601.61
    +0.39 (+0.02%)
     
  • Jakarta Composite Index

    7,088.79
    -34.81 (-0.49%)
     
  • PSE Index

    6,511.93
    -30.53 (-0.47%)
     

RBC joins Goldman in suing clients after Singapore crash

Let the suing spree begins.

According to a report by Bloomberg, Royal Bank of Canada sued three private wealth clients in Singapore, joining companies including Goldman Sachs Group Inc. seeking money owed by customers after an October stock rout.

Blumont Group Ltd. (BLUM)’s Executive Chairman Neo Kim Hock and Executive Director James Hong and businessman Nelson Fernandez owe the Canadian bank a total of $63.3 million, according to lawsuits filed in the Singapore High Court. The men refused to pay after shares in companies such as Blumont, Asiasons Capital (ACAP) Ltd. and LionGold Corp. (LIGO), held as security, tumbled in the October crash, the bank said in court papers.

ADVERTISEMENT

Read full report here.



More From Singapore Business Review