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6/28/2007

Zage versus Rasif - what's the message

From the trend of the questioning by Hri Kumar, the Zages should bear part of the blame for trusting Rasif and not taking reasonable precautions to safeguard their money. Though Mrs Zage was not called stupid, she broke down after being asked if it was wise of her to leave her money in trust for a property deal. The moral of the story is 'don't be too trusting with your money to anyone, even an organisation.' And remember what Gerard Ee said? Someone may just helped himself to the money. And this is exactly what happened. And recently we have seen so many cases of such nature. I want my money in my own pocket where I have full control over it. Do not trust anyone with your money. Not even god. The other point arising from this case is related to the Singapore Brand. People have so much faith in our system that they will sign away a $10 million dollar cheque. Would one do it in countries that one have doubts about the system? But if it goes on like this, soon this Brand will become No Brand. Once we lose it, once we lose the trust, it is gone. There is nothing wrong with the practice of depositing cheques in clients' accounts. It is a common practice in the finance industry. Only the safeguards appear to be in question. Are there loopholes? Or is it a case of fraud when parties are involved in facilitating the fraud? Again, don't trust your money in anyone.

3 comments:

Anonymous said...

i am not being too much.. ok the victims have my sympathy ok..n i really do feel bad...

.. but when our country is poor we dun seem to have so many high profile cases. now big ticket items like slim10 and nkf and $10m cases are so common, i just cant help thinking abt the fees, service charges, gst, stamp duties things like that which brings bread to many needy people seems like good money to me.. so in some strange sense we are progressing...

Anonymous said...

that's the message and the moral of the story!

Anonymous said...

the moral of the story is the rich are fabulously rich but most of us here have to eke out a hand to mouth living doing overtime everyday and not even sure can retire by 90, that's the message can you handle the truth?