When letting a friend manage one’s money results in $4.7m losses

Quick Summary:

He thought his friend could help him reap handsome rewards in the forex trades but ended up losing almost all the money.

After all, the trader, who seemed confident in his ability to play the currency markets, came highly recommended by the investor’s son-in-law.

An investor thought it was a good idea to let a friend manage his $5 million foreign exchange portfolio, since he was promised that his capital would always remain intact.

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Article Details

Author / Journalist: Tan Ooi Boon

Category: EconomyBusiness

Markets: Singapore

Topics: Letting Manage 99/month Access Friend One’s Unlimited Money Stories Results Subscriber-only

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-08 @ 05:00:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Readers: 60 people read this story

Article Length: 199 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 24201653

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About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 14 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 1 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #25

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