Ie, an Indonesian textile businessman, accused Citigroup's Singapore unit, where he was a client since 2003, of negligent misrepresentations and hiding material facts and claimed the bank had "undue influence" on his investment decisions. He was also misled by his banker into believing he made a profit when he suffered a loss after the collapse of Lehman Brothers Holdings Inc. in Sept. 2008, according to the lawsuit. Full story
Citigroup gave negligent advice to 88-year-old, lawyer says
Ie, an Indonesian textile businessman, accused Citigroup's Singapore unit, where he was a client since 2003, of negligent misrepresentations and hiding material facts and claimed the bank had "undue influence" on his investment decisions. He was also misled by his banker into believing he made a profit when he suffered a loss after the collapse of Lehman Brothers Holdings Inc. in Sept. 2008, according to the lawsuit. Full story
