If you want to buy a household item, a TV set for example, most probably you would look for a reliable brand or at least a brand you are quite familiar with.
How come investors put all their savings or so much money in something they know little about. It was reported that the highest sum was $500,000 and some actually had intended to put their money in fixed deposit. All this sounds illogical.
Some were misled thinking that their investments were safe.
Or some just believed whatever the sales officers said. And some investors talked as if they don't understand English well and the officers explained in English. All the more they shouldn't sign right away. Why not go home and discuss with family members first. This looks more like foolishness of the investors.
I'm sure not all are misled. Maybe some are aware of the full risk and they want to take it.
I think investors should bear 70% of the blame. They are lucky if they get back 30% of their money back. The MAS could punish the banks or their officers but I doubt the Court could rule that the banks return all their money.
