The ex-wife of Singapore billionaire Peter Lim, who recently failed in a bid to buy Valencia Football Club, is suing HSBC Holdings Plc. for negligence.
Teo Gok Fong, who received about $50 million from her divorce with Lim in 2002 and has been investing with private banks since, says HSBC caused her to suffer large losses by making her believe certain products, including accumulators, decumulators and equity-linked notes, suited her risk profile.
HSBC is asking the Singapore High Court to dismiss Teo’s lawsuit, saying she is a sophisticated and experienced investor, who should be held responsible for her own decisions.
Photo: Wikimedia Commons
Source: Bloomberg
