A relationship manager in Singapore has been accused of misplacing client money into non-capital protected products, including structured products.

An elderly tyre business owner has sued Citibank Singapore, alleging the bank mismanaged his money by investing it in non-capital guaranteed products rather than his intention of fixed deposits. According to court documents filed to Singapore’s High Court on 5 January and seen by SRP, Choon Meng Yeo, the plaintiff, claimed that despite intending to be the sole operator of the account, over SG$1.15m (around US$864,000) of his cash deposits were deposited into a joint account that could be

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