Choo Je Chong, an old-age pensioner, deposited her life savings of over $300,000 in Standard Chartered Bank. A year and a half or so later she discovered that her money was missing. She found that the bank traded in investment funds with her money. The bank took nearly $160,000 in fees and over $50,000 in interest and lost the rest.

She dealt with only one person at the bank from the time of opening the account, known as a relationship manager.  He asked her to sign many forms. She trusted him completely and did whatever he told her. She was a simple housewife who knew nothing whatsoever about investing, and had only ever held savings accounts.

The relationship manager took out massive loans and bought and sold the same investment funds repeatedly charging huge bank fees each time. He acted contrary to the bank's own guidelines that an investment fund be held for many years.

The bank has refused to refund her money and says that she gave all the trading instructions to the bank. They say that the bank officer was not involved, other than submitting her instructions. The bank's defence is nonsensical as no sane person would buy and sell the same investments repeatedly at a loss in a relatively short period of time so as to burn their capital through enormous fees.

Standard Chartered Bank has taken the life savings of Choo Je. Now, in the latter part of her life, Choo Je, who lives alone, has to depend on relatives and friends.

Please support this petition to Standard Chartered Bank to return Choo Je's money.