<TABLE border=0 cellSpacing=0 cellPadding=0 width=560><TBODY><TR><TD vAlign=top width=550 colSpan=2>Debacle shows up flaws in HK system <!-- TITLE : end--><!--
Crtitics say the agreement is crafted to allow the city's 16 banks to wash their hands of fraudulent offences they might have committed. -ST --></TD></TR><TR>
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</TD></TR><TR><TD class=content_subtitle align=left>Sun, Aug 02, 2009
The Straits Times </TD></TR></TBODY></TABLE></TD><TD width=400 align=right><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR><TD vAlign=top align=right>
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</TD><TD vAlign=top align=right><FORM method=post name=emailToFriendForm action=emailToFriend.jsp><INPUT value=/vgn-ext-templating/asiaone/emailToFriend.jsp?vgnextoid=a8a8ad93a58d2210VgnVCM100000430a0a0aRCRD&vgnextchannel=6c2523b606d2a110VgnVCM100000bd0a0a0aRCRD type=hidden name=emailToFriendPageURL> <INPUT value=http://www.asiaone.com/News/the%2BStraits%2BTimes/Story/A1Story20090802-158498.html type=hidden name=emailToFriendStoryLink>
</FORM><SCRIPT> function openEmailA1AdminWindow(emailToFriendForm) { var emailToFriendPageURL = emailToFriendForm.emailToFriendPageURL.value; emailToFriendForm.action = emailToFriendPageURL; emailToFriendForm.target="_blank"; emailToFriendForm.submit(); } </SCRIPT></TD></TR></TBODY></TABLE><TD></TD></TR></TBODY></TABLE></TD></TR><!-- Story Without Image / With eXtra Large Image End --><TR><TD class=bodytext_10pt colSpan=3><!-- CONTENT : start -->By Jean Chen Shu-Ching, For The Straits Times
Hong Kong: For the past 10 months, Mr Peter Chan and his wife have been staging protests in front of banks and government offices, and on street corners in Hong Kong.
Mr Chan, 57, even temporarily gave up his job of running a travel agency to campaign for investors who lost money on Lehman Brothers' Minibonds.
<TABLE border=0 cellSpacing=2 cellPadding=2 width=300 align=right><TBODY><TR><TD><SCRIPT language=JavaScript src="/static/ads/scripts/adsimu.js"></SCRIPT><!-- AdSpace 300X250 A1-STI IMU --><SCRIPT language=JavaScript1.1 type=text/javascript src="http://ads.asia1.com.sg/js.ng/site=tasiaonenews&sec=asiaonea1news&pagepos=1&size=300X250"></SCRIPT><NOSCRIPT></NOSCRIPT><!-- /AdSpace -->http://ads.asia1.com.sg/event.ng/Ty...=1&size=300X250&Redirect=http://www.razor.tv/</TD></TR></TBODY></TABLE>Now, the Chens seem close to getting financial redress. A government-brokered agreement announced last month would let some 29,000 investors recoup up to 70 per cent on their investment, and they have two months to decide if they will take the payout.
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Crtitics say the agreement is crafted to allow the city's 16 banks to wash their hands of fraudulent offences they might have committed. -ST --></TD></TR><TR>
The Straits Times </TD></TR></TBODY></TABLE></TD><TD width=400 align=right><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR><TD vAlign=top align=right>
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</FORM><SCRIPT> function openEmailA1AdminWindow(emailToFriendForm) { var emailToFriendPageURL = emailToFriendForm.emailToFriendPageURL.value; emailToFriendForm.action = emailToFriendPageURL; emailToFriendForm.target="_blank"; emailToFriendForm.submit(); } </SCRIPT></TD></TR></TBODY></TABLE><TD></TD></TR></TBODY></TABLE></TD></TR><!-- Story Without Image / With eXtra Large Image End --><TR><TD class=bodytext_10pt colSpan=3><!-- CONTENT : start -->By Jean Chen Shu-Ching, For The Straits TimesHong Kong: For the past 10 months, Mr Peter Chan and his wife have been staging protests in front of banks and government offices, and on street corners in Hong Kong.
Mr Chan, 57, even temporarily gave up his job of running a travel agency to campaign for investors who lost money on Lehman Brothers' Minibonds.
<TABLE border=0 cellSpacing=2 cellPadding=2 width=300 align=right><TBODY><TR><TD><SCRIPT language=JavaScript src="/static/ads/scripts/adsimu.js"></SCRIPT><!-- AdSpace 300X250 A1-STI IMU --><SCRIPT language=JavaScript1.1 type=text/javascript src="http://ads.asia1.com.sg/js.ng/site=tasiaonenews&sec=asiaonea1news&pagepos=1&size=300X250"></SCRIPT><NOSCRIPT></NOSCRIPT><!-- /AdSpace -->http://ads.asia1.com.sg/event.ng/Ty...=1&size=300X250&Redirect=http://www.razor.tv/</TD></TR></TBODY></TABLE>Now, the Chens seem close to getting financial redress. A government-brokered agreement announced last month would let some 29,000 investors recoup up to 70 per cent on their investment, and they have two months to decide if they will take the payout.
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