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As usual, MAS reply does not answer the question specifically. Instead it provides a generic bureaucratic reply that doesn’t mean anything to anybody.
Most investors have been compensated somewhat, so I don’t think MAS will act further. MAS just does not have the guts to prosecute FIs, as it needs the latter to boost sg’s financial status.
Perhaps MAS might act if someone of authority (eg Town Council) lodges a formal complaint. Knowing these town councils, they are also gutless.
The surprising thing about this govt is that it is acting minimally in the Minibond scandal, but is going to great lengths to prosecute Ionesceu to the extent that it may even damage Sg-Romania diplomatic ties. Is justice misplaced here?
ReplyMIAG [Minibond Investor Action Group] will take the legal suit to the Court of Appeal if necessary to lay bare the deceptions in the marketing of these CDO instruments to the unsuspecting retail investors. We are interested to see justice and in action of MAS in safeguarding singaporean.
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