Formula for Excess

Singapore’s free-wheeling private bankers enjoyed the ride of their lives in the precrisis years, but with government intervention and a clutch of lawsuits looming, it looks as though many are finally running out of road.

DESPITE ITS GLITZY new image as the latest hotspot to host a nighttime Formula One race around glamorous casinos, Singapore – the tropical island republic dubbed South-East Asia’s Monaco by private bankers – hides a post-global financial crisis secret.

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