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| Wednesday, 23 September 2015, 10:16 HKT/SGT | |
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HONG KONG, Sept 23, 2015 - (ACN Newswire) - Mr Nobu SU, a leading member of Asia's shipping industry, and the Chairman of TMT Co., Ltd. ("TMT") has been closely monitoring the conduct of The Royal Bank of Scotland ("RBS"), a British bank which Mr Su has indirect shareholdings. In 2008, RBS was bailed-out by British Government. In particular, he has conducted painstaking research for 4 years into the role played by the bank and its senior officers in the wider Financial Crisis - including links with the US Federal Reserve and the financing of CDO's. Mr Su said today "I hope to publish a book detailing new insights into the real story of the Financial Crisis".
It is understood Mr Su is investigating possible links between significant over valuations of his security into the billions of dollars and sudden margin calls by RBS for tens of millions of dollars because of supposed errors made by third parties. Mr Su said "I am determined to find out whether the bank traded against me, the role of RBS Sempra and why certain bank statements are wrong or just unavailable."
It is understood that Mr Su has been provided an RBS document in which an RBS employee named Amanda Galloway stated that RBS had been understating one particular TMT position by circa $60million and consequently that RBS risked being sued if they closed out positions. Amanda Galloway now appears to be working for Clarksons, the listed shipbroker, which brokered trades for Mr Su's TMT companies resulting in multi-million dollar litigation last year in the Commercial Court in London.
Topic: Press release summary
Sectors: Daily News
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From the Asia Corporate News Network
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