Jakarta Globe – An 88-Year-Old Indonesian businessman has sued Citibank for at least US$17 million (S$20.5 million) after he suffered investment losses. Ie Seng Hoan, who is in the textile business, is suing through his investment vehicle, Zhen Yin Company, which he set up to invest with Citibank in 2003 when he was 81.
Ie claims his relationship manager had made false or misleading statements and had exerted undue influence on his investment decisions.
