Citi sued over alleged misplacing of client funds into structured notes in Singapore

An elderly tyre business owner has sued Citibank Singapore, alleging the bank mismanaged his money by investing it in non-capital guaranteed products rather than his intention of fixed deposits. According to court documents filed to Singapore’s High Court on 5 January and seen by SRP, Choon Meng Yeo, the plaintiff, claimed that despite intending to be the sole operator of the account, over SG$1.15m (around US$864,000) of his cash deposits were deposited into a joint account that could be