Lastly, the socially acceptable amount of compensation that retiree investors should receive is debatable, given the ambiguous circumstances. I lost that bet and wanted to "win" it back, unfortunately with that mentality, my life savings was depleted.
They were coached informally to seek out retirees when they could have focused on other consumer segments which would be less vulnerable to the risks involved. Here, the two companies agreed to issue a No Objection Certificate liquidating their assets to repay the investors.
I wrote them a letter and requested them but there was nothing. The ethics of uncertainty. Conclusion The theories of ethical egoism, deontology and conventional approach are double-edged swords with their evaluation of DBS and its relationship managers.
Minibond saga Life savings gone six months later. I had invested all my money in the scheme. Not just me, even my neighbours, friends, no one was getting their money. Retrieved February 26,from The Online Citizen: They pumped in life savings and now feel cheated.
DBS should bear the bulk of the responsibility since the bank already knew that retirees were being sought out Life savings gone but yet did not step in to ensure that they were fully informed of the risks involved. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.
What we are asking, not even taking the Rs 7, crores into account is, you collected an amount of Rs 4, crores, which is a fact and you have an asset worth Rs 3, cores.
Thus, compensations should be calculated and awarded on a case-by-case basis to ensure fairness is maintained. However, the criterion for compensation is difficult to ascertain as mentioned and DBS risks paying out compensation to the wrong investors.
How will I survive without my money? I have not been gambling for 9 months now HK investors protest losses on Lehman products. I was angry, depressed, I knew for a second that my wedding plans, my honeymoon and house deposit were pushed back.
In relation to procedural justice, procedures by which the relationship managers followed were also questionable. Relationship managers may face disciplinary action from DBS and risk losing their jobs if found to be guilty of providing false or inadequate information to clients.
Time will tell what will happen. More Essay Examples on Ethics Rubric Deontology In the case of compensatory justice, relationship managers who gave misleading sales pitches ought to compensate their clients who lost their investments to a certain extent to deter similar incidents from occurring.
Without waiting any further, Rana and her family invested over Rs 5 lakh in fixed deposits in the company over a period of three years.
This is the principal amount and against that, as per NCLT order, we have voluntarily surrendered assets worth Rs 3, crores. How are you going to pay back.
Hence, the specific motives of both parties would have to be uncovered i. Retrieved February 26,from Asia Calling: Ankita Sinha Video Editor: In the light of possible dangers, research becomes a moral duty.
While speaking to The Quint, Goenka assured that he and his company are committed to returning the principal amount in installments and said the reason for the delay in returning the amount was due to the devaluation of his real estate assets over the last few years.
Rs 7, crores is the wrong number, this has never been the figure. Tracking the Minibond Saga. I told my mother, and she was devastated and in tears. Investors can often be seen queuing up outside the office to enquire about their hard earned money. I am a widow, even my son is no more.
Hence, interviews could be conducted to determine whether these investors should be held partially responsible for their own losses instead of DBS bearing the full brunt of costs. Retrieved February 26,from Reuters: But ininvestors who did not receive their maturity amount complained to Securities and Exchange Board of India about it.
You should may be watch it."My Retirement Savings Are Gone" The solution: Trim expenses and keep socking away cash.
By Laura Cohn, has made him appreciate the simpler things in life. He and Meyka were inspired by new. Yes 30 Lacs / life time savings is gone. Gone are dreams of foreign tours forget about buying bigger/another property for children.
Beginning this month, I have started trading in options as chances of loss in an single trade are limited. Maryam Raza needs your help today! RCMP Scam - Life Savings Gone - My good friend Maryam and her husband were scammed last week in Edmonton and lost their life savings of over $15, They are the kindest, most generous people, and are in dire straights now; they have a month-old and I want them to be able to return to a.
In the case, DBS had failed to adequately explain and clarify to retiree investors the risks they were exposing themselves to prior to their purchase of the Lehman Minibonds and High Notes 5 bonds - Life Savings Gone introduction. Thereby, we sought to examine and evaluate the ethical implications on the various stakeholders and the.
The victim of an online dating scam is speaking out, saying she was duped out of her entire life savings by a man preying on women looking for love. One response to “Investing Gone Wrong: How I lost my life savings” Jeff says: February 22, at am Considering the amount you actually invested and your age, you hardly lost your life savings.
I lost $k real dollars (on a 20k a year salary at age 30) and I also would never call that losing my life savings.Download