HSBC and the Negative Equity Rich Man

Here is my abridged translation of the article:- "In a 10-minute telephone conversation, persuaded by an HSBC private banking relationship manager, Jin Liang agreed to buy 1,000 shares of Chinalco. It turns out that within one year, these 1,000 shares ‘ate up Jin’s 10 million cash’ at a pace of losing HK$30,000 per day on average. Disputes between mainland investors and overseas private banks similar to Jin’s case are not unheard of. Often the money lost in these cases amount to hundreds of millions.

Read →

Comments on this post are for paying subscribers