Goldman Sachs Group Inc. was sued by Singaporean wealth-management client Oei Hong Leong over a $34.3 million loss on Brazilian real-yen options trades he claimed the bank misled him into making.
Oei accused the New York-based bank of fraudulent misrepresentation, breach of fiduciary duty, fraudulent inducement and unjust enrichment in papers filed yesterday in New York state court.
“A lot of clients are like me, they trust the big banks like they trust their doctors,” Oei, 65, said in an interview today. His friends have had similar experiences and he is suing for “justice and fairness” for all clients, he said. Full story
