Singapore - Unscrupulous financial advisers, some of whom are teaming with loan sharks, are manipulating investments of low-income Singaporeans using savings from their mandatory retirement funds, a newspaper reported Thursday.The advisers have their low-income investors sign blank authorization forms so the advisers can make investments on their behalf. The forms are then used to liquidate positions in CPF investments as often as twice a month to generate business or churn out deals.
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