54-year-old cancer sufferer Lin Jin Jiao yesterday strapped a cardboard sign on herself and staged a protest against DBS Bank at Raffles Place during lunch hour. Lin had invested, and lost her retirement funds in the now-worthless DBS High Notes 5 (HN5) investment product. In her protest yesterday, she alleged that DBS Bank was guilty of mis-selling for investing her money in a high-risk venture (read the report here, read English report here.).
Click on picture to enlarge:
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Where got justice if her case is not reviewed
I thought we in the golden period?
”
52) Tan on December 26th, 2008 12.07 am
I thought we in the golden period?
”
well, we are. who said we are not?
Yes very sad. But just because of her circumstances we should not be distracted and by misled by compassion instead of the validity of the claim – i.e. request for compensation.
Imagine all the equities players begging their exchanges to compensate them just because they have lost money in stocks in the global recession. Wise up.
i think she will stand a better chance of being compensated if she talks to the bank nicely. this kind of antics will not be tolerated. and if she dares sue then she might have to face the best legal minds money can buy.
my suggestion is for her to go to the bank and ask for help.
if a person has no money or not enough money
and kenna injustice happen to him/her
no money to hire top lawyer against a tycoon who can easily do so,
HOW?
is this the kind of society to have?
have money have good lawyer?
no money leh ?
#54 Enough of Griping, you wrote:
Imagine all the equities players begging their exchanges to compensate them just because they have lost money in stocks in the global recession. Wise up.
Equities players like myself know the risks involved, so they are unlikely to beg for compensation if they have lost money in stocks. But these mini bonds and high notes are of a different category. During the past few years as the saving interests rates kept dropping, financial institutions were encouraging their clients to put their money into investments with better returns. I was approached many times. Fortunately, I did not put my money into these investments with my eyes wide open.
#55) redbean, you wrote:
I think she will stand a better chance of being compensated if she talks to the bank nicely. this kind of antics will not be tolerated. and if she dares sue then she might have to face the best legal minds money can buy.
She had already talked to the bank. Whether this kind of antics will or will not be tolerated will be decided by the authorities. To her, she believes this is her freedom of expression and she has nothing to lose. Should justice be decided by money. I am very sad for the kind of society we are becoming.
hi sarek_home @ post #48,
Seelan Palay went through a police investigation and interview after the protest and can be charged at any time.
As for CSJ, he usually goes through police interviews too. Not sure about his Istana protest but they’d gladly charge him I think.
So since there was no police arrest made, the question should be refined to, “Were her particulars taken down and will she be called in for a police interview?”
The moral of this story is – if you leave your money with anyone be it a bank -instituion , friend or relative for safe-keeping or investment return – there is no gurantee of your monies return .
Anyone who gives gurantees or assurances on your deposits –
Don’t ever Beleive them !!!
ALWAYS REMEMBER YOU ARE YOUR BEST “SAFE” !!
[i]To her, she believes this is her freedom of expression and she has nothing to lose. Should justice be decided by money. I am very sad for the kind of society we are becoming.[/i]
don’t be suayed by certain talkco ck writers here
they also think
they can persuade the pap government to do their biddin
especially if the interest is connected to temasek inc…..
when i challenged the ntuc taxi matters over an erand cabby cab bully
it was published in the CHINESE newspaper with a bigger column than the honkie actress writeup but was never published in our 154th media..
i went to traffic police for a report
no actions was taken against the cabby nor ntuc inc
i even went to ntuc defence lawyer in cecil street
their lawyer
give me 1 piece of advise
try suing us/ntuc if you think that you are unfairly treated
can you afford the legal fees to start with?
so what is there to discuss/neogotiate with dbs bank?
who owned dbs bank?
Such antics should not be tolerated. Imagine if the entire Singapore population decides to emulate her. Law and order must be preserved.
Enough of gripping “be superfluous don’t exaggerate”
She did not break the law or order – she is on cruthches !!
I comprehend her actions as a dire warning to all ” never part with your money when you are allured by bankers ar anyone else – they are there to deceive you
no one and nothing can protect any of your investments !!!
Truth of the matter – she was deceived and making it known publicly as an individually is a Great Deed “Indeed ” !!!
Hey “Enough of Griping”, she never did this with an ideology or think of herself as a protester. She’s a desperate woman expressing her feelings, her sufferings. Who will go to help her? You? Maybe if you can settle her monetary needs for survival and cancer treatment then maybe you can advise her on what to do and what not to do.
In the times to come when the PAP does not help the people, and if the entire Singapore population decides to emulate her then that is only natural. We are human beings and we have feelings you know? We’re not robots to listen to laws that are in place to keep a certain all-white wearing party in power.
Let me quote something from Confucius, “The only ones who do not change are sages and idiots. – Confucius, c.400 BC.”
Ok, I am sorry for the transient lapse. Let me rephrase.
Such antics, especially for those on crutches, should not be tolerated. Imagine if the entire Singapore population decides to emulate her. Law and order must be preserved.
65) Enough of Griping on December 27th, 2008 11.13 pm
Try to imagine if this lady is you! what say you huh?
Don’t be so mean to me. I already apologised in 65) :(
I don’t meant to be mean but just trying to let you have a feel of whats its like if you are really in that same position of this lady, I mean we all after all human beings, right? no offense here.
She’s brave but that properly is the only to get some justise. I wouldn’t mind to do likewise if necessary.
Actually that should be just fine if you look at to how MAS has responded since the crisis begun, they simply shy away from their responsibility.
No DL, don’t do as the poor woman did, because unlike her you are still young and healthy and they will put you in jail.
We need more people like you to stay out of jail to fight against social injustice.
anonymous it is unanimous
This poor woman became poor because the banking cheats ripped her off !!
ANOTHER act of atrocity by the banks to fatten their pockets at the expense of this lady -made her to act to Question the integrity of our banks. Her act is the cheapest avenue to exhibit her agony and
should never be construed as a protest to spur public disorder !!
Why not arrest the bankers who provoked – engineered – collaborated
and coordinated the investment strategy so people part with the money -without any risk to the banks – only absolute profits for the Bankers at the expense of their clients – “Isn’t this a case of cheating ” ???????
” where is the duty of care to your clients “!!!!!
” Are banks Licensed to be Rip offs ” !!!!!!
When others kenna misfortune,
the onlookers criticise easily saying oh she deserve it, signed the contract.
have they looked at possible mis-selling?
when people themselves kenna, then they know.
no one would dare to go near her to help her.
people just watched the show.
this is our society?
A deceptive contract is not a binding contract –
This is CLEARLY a case of allurement to cheat to profit .
@Redbean: Try base your contract on an offence and see how. Hahahahahaha…
74) JUSTINVIN on December 28th, 2008 4.17 pm
there was this guy calling himself the ‘banker’ who got the wrong understanding
that signing a legal contract means can get away with mis-selling, assuming there is indeed found to have mis-selling.
i pitty him but realise
that many who are not able to analyse well fall into this trap.
they are easily prey to MLM and pyramid products and pressure selling etc, unfortunately.
Trust has to be earned. Don’t trust anyone blindly.
Draw up a contract to deceive than MISrepresent to mis-sell – so you can cheat to profit.- just ensure
with the best counsel of lawyers -enforce it as a binding contract .
@ Redbean isn;t this an offence and a crime – Surely the integrity of government – Courts and Banks are at stake – “Deter or Encourage” This is no laughing matter !!.
Kanga never trust BankerS they are there to ” RUT AND RUIN YOU” !!!!!
29/12/08
Dear Gilbert Goh & Gemani
Very sad indeed and this old lady has to bear the full blame as GREED got into her (I had my fair share and lost more than S$30Million plus during the 1997 Asian Financial Crisis).
Where is Bondholder Hero Tan Kin Lian now (he has been very silent for sometime) and his promise to help these 10,000 bondholders
Regards
Andrew Chuah
I saw this lady, next to DBS branch near Golden Shoe. V pitiful…
The State probably has not taken custody of her because she might need to incur expensive medical treatment… then govt pay. not gd for govt coffers.
30/12/08
Hi ML *79-Good suggestion. The Ministry of Health should thoroughly investigate her case and if this is true, MOH must bear all the treatment for her (just a very minute drop of our GDP and as I have written, those Singaporeans who genuinely deserve help and all the help must be provided by our Government, perhaps our Bond Hero Tan Kin Lian can help by offering to pay for her cancer treatment initially and hence we Singaporeans can really see that he is all out to help these 10,000 bondholders whom majorities are Uncles and Aunities including this lady stricken with cancer.
Regards
Andrew Chuah
Andrew chuah
Stop bragging about your $30 mil loss. Please donate $200K to this lady or shut up.
It sounds like broken long playing record back in the sixties. Stale already, lah..$30 mill was peanuts or green nuts or japanese notes
#81 goingnuts reading his brags
Andrew Chuah’s callous remarks on Mdm Lin & calling her to take the full blame is not surprising.
He had already repeated his brags many times.
For the benefits of those who missed them, this is a summarised version.
He claimed to lose >$30 million in a fraudulent investment scheme. Lost related case in a FOREIGN court because the judges were corrupted & his own lawyers took bribes.
Really Sneaky. If he had bragged that the court case was in S’pore, he can be hauled up by the S’pore police.
Yesterday I lost 50 million at the majong table but it was nothing, only 50 mil. Can make it back in the next game. On second thought i better give some to charity and count it lost again.
83) !!!!!!!!!!!
No mention of $$$ he must have pissed 50 mil on the table !!!
You Stink !!! Don’t forget to wash your rear End .. Drew & Spear
This plucky lady’s protest means that the fight must go on and on and forever and ever and ever.
This is the war cry of the Maoris at Orakau Pa in NZ in 1864 as they ran to the bush to avoid being annihilated by the canons of the British troops.
They are still protesting.
In the 1950s a whole group of Maoris in their traditional flax skirts or piu piu turned their backs, stoop down and bared their bottoms at the train that was ferrying the Queen of England., who was on a grand tour of NZ. This is the greatest Maori insult. Nothing happened to the protesters. Take action against them! The land belong to the Maoris.
Then it happened again and that was a few years ago. The white NZ government again did nothing. Why?
What will the PAP do to this woman? I bet it will do nothing because it is dead scared of stirring up a hornets nest. The whole Singapore public will be against the EElite and the Mandarins on their white horses.
The fight must go on and on and on and let us be inspired by our fellow human beings, the Maoris. ake ake ake ake
hohapata tariana hoi hoi
85) hohapata tariana hoi hoi , you wrote:
‘What will the PAP do to this woman? I bet it will do nothing because it is dead scared of stirring up a hornets nest. The whole Singapore public will be against the EElite and the Mandarins on their white horses. ‘
A well-written comment. I hope we don’t have to wait another 50 years to realise that her brave act was the beginning of the end to the ban on public demonstrations.
78) Andrew Chuah &
83) End Drew & Spear
Please don’t use this blog space for your exaggerated comments. My apologies if your claims are true.
intesrting how 200 China workers can sit in at MOM and get their rights reinstated, but 1000 Singaporeans cannot pay a visit to DBS…. These Singaporeans have no rights??
Andrew Chuah,
you a were very greedy, unsavvy and vulnerable and that is why you lost $30 millions, You entered with your eyes closed shut.
on second thought , dunno real or not that you lost so much.Got so much why greedy for more?
MAS screwed up. Looking fro a scapegoat.
Just cannot believed it! Trusted source told me that DBS is paying some of their staffs 9 months of bonus for 2008 secretly! What a shame!
Secret on February 13th, 2009 1.16 pm Just cannot believed it! paying some of their staffs 9 months of bonus for 2008 secretly!
THEY ARE THERE – TO CONVINCE – CON – RUIN AND BANKRUPT YOU !!
THIS IS KNOWN AS FINANCIAL ENGINEREEING !!
- COLLOBRATED – DESIGNED -CO-ORDINATED TO RIP YOU OFF AND THEN HELP THEMSELVES TO FAT PAY PACKETS AND BONUSES .
IS THERE A DISTINCTION BETWEEN – CHEATS – THIEVES AND BANKERS ??
I WISH I COULD STUFF $ 100 BILLS UP THEIR REAR END AND DOWN THEIR THROATS SIMULTANEOUSLY !!!!!