Clariden Sued in Singapore Over Minor’s Risky Trades in Futures
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Credit Suisse Group AG’s private banking unit Clariden Leu induced a 19-year-old minor to make risky trades in futures contracts and should be liable for the losses incurred, according to a lawsuit filed in Singapore.
Ian Ow and his father Ow Weng Fye sought to recoup S$896,871 ($715,607) from Clariden Leu and their former banker Aaron Chwee in a lawsuit filed at the Singapore High Court. A closed hearing is scheduled for next month.