Bravo to the New York Attorney General

The New York Attorney General is active in looking after the interest of ordinary people. If they find evidence that a bank has been defrauding its customers, it is ready to take legal action on behalf of the people. It recognizes that the AG office is really the lawyer for the people, and not just for the Government. Read this report.

I hope that our AG office in Singapore and the Minister for Law will recognize that it has a duty to the people of Singapore to uphold justice and to protect the interest of ordinary people when there is suspicion that the business enterprises are set up to defraud the people, e.g. collecting deposits with the likelihood of folding up or designing financial or investment contracts that are unfair to consumers. If they need financial expertise they can cooperate with the Monetary Authority of Singapore.

It is not reasonable to expect that the ordinary people can afford to engage lawyers to pursue civil actions against these business enterprises. Many cases need to be investigated, and ordinary people do not have the resources or the power to carry out the investigation.