Ex-remisier Jailed Over S$11 Million Fraud Involving Misappropriated IPO Funds
Teo Hui-Ni Sumiko-Jill, formerly a remisier at Maybank Kim Eng Securities, was sentenced on April 7, 2026, to 13 years and six months imprisonment for fraud and criminal breach of trust. She was convicted of 20 charges related to defrauding 10 investors by falsely promising access to initial public offerings and shares on foreign stock exchanges. Between February 2020 and December 2021, victims entrusted Teo with over S$11 million to purchase shares, but she diverted the funds for personal use and to repay other clients. Authorities also took into account 36 additional charges during sentencing. This case highlights vulnerabilities in... [Continue Reading]
360LiveNews | 07 Apr 2026 10:18
BNY Mellon Chosen to Manage New Trump Accounts Program for Families
The U.S. Treasury Department designated The Bank of New York Mellon (BNY) as its financial agent to implement the Trump Accounts program, a new initiative aimed at helping families open financial accounts for children. BNY will manage the initial accounts and is tasked with developing a user-friendly app for easy access and management of these accounts. In partnership with Robinhood, which will act as the brokerage and initial trustee, BNY’s role will help expedite account setup and management, ensuring that every eligible child can participate quickly and securely. The Trump Accounts app is designed as a custom product to meet... [Continue Reading]
360LiveNews | 06 Apr 2026 15:18
