OMG! 8.8 Million freezed by OCBC
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A 91-YEAR-OLD woman, accompanied by her 43-year-old adopted daughter, went to OCBC Bank in May, asking to close her account containing $8.8 million - but the bank would not let her.
The bank, which said it has doubts about her mental capacity to manage her financial affairs independently, froze her account despite her repeated instructions to take out her money. Madam Hwang Cheng Tsu Hsu, a retired teacher, now 92, then sued the bank to get back her locked-up funds.She first tried to apply for summary judgment - asking the court to make a determination without the need for a full trial - but this was rejected.In March, Madam Hwang was seen by a psychiatrist of 30 years' experience, who assessed her to be fit to make a will despite mild dementia.
http://www.asiaone.com/News/AsiaOne%2BNews/Singapore/Story/A1Story20081120-102190.html
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Poor auntie. =X
But I think the bank also scared she was suffering from dementia at that point of time and make wrong decisions. -
i think OCBC is nothing but a empty shell..
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Ai yo... but even if she cannot make a will, the money still belong to her family members mah... but she sure can save... that's a lot of money...
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but seriously.. if the woman went, with her daughter, adopted or not, and wanted to close the account, what right does the bank have to hold on to the money which is not theirs?
who do they think they are? CPF?
