[Scythian]

How come a lowly educated OK Lim able to cheat banks over billions?

Now, who is stupid? 
OK Lim or not ok, highly educated banks credit managers?

Any comments

[Scythian]

How come a lowly educated OK Lim able to cheat banks over billions?

Now, who is stupid? 
OK Lim or not ok, highly educated banks credit managers?

Any comments

W/O even taking EU PISA test, OK Lim is ranked having highest IQ and the smartest in Singapore.

[ysh02]

Doing business don't care educated or not lah...Last time rice tycoons many also not highly educated.

[p1acebo]

Maybe his kkj beri long

[ysh02]

Maybe his kkj beri long

Why kkj long got to do with education ? Rich man small ;educated man long har...

[RiseofAsia]

Maybe his kkj beri long

The bank employed JLBs lah.
Cannot see through his evil plot.

Poor man uses knife to rob bank.
Rich man brings suit case to rob bank lah.

[ysh02]

Likely HSBC loan manager is a lady ; usually we think lady heart is soft one ! Old man is hard while young man no heart type. ?

[Napoleon Porlumpar]

How come a lowly educated OK Lim able to cheat banks over billions?

Now, who is stupid? 
OK Lim or not ok, highly educated banks credit managers?

Any comments

didn't the IsWALAN case teach you anything ? 

[Niubee]

How come a lowly educated OK Lim able to cheat banks over billions?

Now, who is stupid? 
OK Lim or not ok, highly educated banks credit managers?

Any comments

Business with assets can get loans.

[theold]

He was a billionaire, but now he breathes only air.

[mrclubbie]

level of education and being a cheater has no link at all...

[Scythian]

Business with assets can get loans.

Initially, He started driving petrol on lorry to deliver..

At his prime, he only looking @ lending limit US$50 mio or nothing.

[Niubee]

He was a billionaire, but now he breathes only air.

One wrong move and habase.

Life is like that. You can be billionaire in early life but once near death and being a bankrupt, nobody will remember u.

[starbugs]

He didn't have to educated to carry out fraud. He just had to employ educated accountants to carry out his instructions to use fake shipping docs to obtain letters of credit.

[Scythian]

He didn't have to educated to carry out fraud. He just had to employ educated accountants to carry out his instructions to use fake shipping docs to obtain letters of credit.

Over many years, he hidden S$800 mio trading loses somewhere and auditors cannot find out.

[Alice Alicia]

You need high educational qualifications to serve the uneducated rich. 😆

Look no further than our ministers, they are serving the billionaires who are without much qualifications.

[Tee tiong huat]

The bank employed JLBs lah.
Cannot see through his evil plot.

Poor man uses knife to rob bank.
Rich man brings suit case to rob bank lah.

Must be laughing to bank with a big bag.

[Tee tiong huat]

You need high educational qualifications to serve the uneducated rich. 😆

Look no further than our ministers, they are serving the billionaires who are without much qualifications.

snl gif

[A2Z]

Banks do not look at the physical products, they look at the bills of exchanges, letter of credits and all documentary credits which are all PAPERs. Olden days I heard of in the import and export dept of banks the likes of LCs (letter of credits). back to back LCs, discounted bills, etc. Those officers in charge totally relied on eg Bills of Exchange when dishing out any form of credits/loans. Heard of one case the ship is loaded with rocks instead of actual products mentioned in the Bill of Exchange. Seriously many officers do not know of the actual importing/exporting of such physical products. It is not their biz to know the physical flows. Lots of duplicates, multiples of them when the boss and the person handling the admin in the import/export firms in order to get more loans with many fake bills of exchange. OK Lim is an old bird sure cannot go wrong one and every banks waiting outside lining up to lend $$$.

[Scythian]

You need high educational qualifications to serve the uneducated rich. 😆

Look no further than our ministers, they are serving the billionaires who are without much qualifications.

I recalled, many years ago having dealt with his company US$30 mio 10 years IRS against 6 months LIBOR fixing.

Ofcoz, it expired well b4 he collapsed.

[Niubee]

I recalled, many years ago having dealt with his company US$30 mio 10 years IRS against 6 months LIBOR fixing.

Ofcoz, it expired well b4 he collapsed.

Heng ah. U into oil biz ah👍

[Scythian]

Heng ah. U into oil biz ah👍

I was in derivatives off balance sheet products and currency options.

Financial engineering

[ysh02]

17 yrs can he come out alive ?....or teach insiders how to trade when they come out ?

[Scythian]

17 yrs can he come out alive ?....or teach insiders how to trade when they come out ?

Maybe in those 17 years, Changi inmates could make more money than GIC and Temasek combined..

Changi becomes world's largest oil trading centre where ExxonMobil, Shell and other oil companies setup inside too.

[Blasterlord2]

Lowly educated doesn't mean stupid.

[Scythian]

Lowly educated doesn't mean stupid.

The biggest problem facing Singapore as financial centre is overly crowded with banks having excess liquidity without commercial biz and major corporate borrowers.

Undeniable, Singapore Govt linked companies overly  serviced in the financial market place.

That's why OK Lim is like a fish overgrown much bigger than its fish bowl.

[Blasterlord2]

The biggest problem facing Singapore as financial centre is overly crowded with banks having excess liquidity without commercial biz and major corporate borrowers.

Undeniable, Singapore Govt linked companies overly  serviced in the financial market place.

That's why OK Lim is like a fish overgrown much bigger than its fish bowl.

Can you provide any supporting evidence?

[Scythian]

Lowly educated doesn't mean stupid.

Then on the flip side, those highly educated bankers must be stupid.

Having few billions wiped out

[Scythian]

Can you provide any supporting evidence?

Take a look at SGX and REITs

[Blasterlord2]

Take a look at SGX and REITs

What kind of an explanation is this? If u want to explain then u better go into more detail and not just ask ppl to go look at so and so. Otherwise you'd not be treated seriously.