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Adviser sued over 'secured' investment.
(From South China Morning Post)
Byline: Sara Bradford
The businessman who brought the Ikea franchise to Hong Kong is suing his investment advisers for US$1.25 million, claiming they negligently told him to contribute to a suspect investment scheme.
In the High Court writ filed yesterday, Terkild Johan Terkildsen and his friend Jorgen Gudik Mortensen name Barber Investment Limited and seven others as defendants in the action.
The writ states Christopher Barber, a director of Barber, advised the men to invest in the Fully Secured Leverage Programme in October 1997.
This investment programme involved the trading of assets such as American treasury bills or bank debenture investments for less than face ...
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