AFP
SINGAPORE (AFP) — Citigroup said Thursday it would defend itself against a lawsuit filed by a Singapore tycoon who alleged he lost one billion dollars (687 million US) on trading deals due to the bank's negligence.
Oei Hong Leong, one of Singapore's wealthiest individuals, is suing Citigroup's private banking arm for allegedly failing to give him an accurate picture of his trading exposure, leading to the losses.
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