A client of BNP Paribas (BNP) Wealth Management claimed in a Singapore court today that the unit of Europe’s largest bank by assets made unauthorized trades that led to a S$1.1 million ($898,000) shortfall in his account.
Nitine Jantilal, a BNP client since 2002, is asking the bank to account for the loss in his account, which fell to S$4.2 million in July 2009, said his lawyer, T. Kulasingam Sureshan. Jantilal didn’t know about some transactions carried out by the bank or authorize certain withdrawals, Sureshan said. Full story
