Husband loses $100K+ ‘investing in forex market’, even drains savings for daughters’ education

A man ran through his family’s savings playing the foreign exchange market. His wife says he invested and lost more than $100,000.

That meant that even the money they had saved for their daughters’ education was gone.  And the two girls are still in primary school.

With all their  savings wiped out, the wife took to Facebook to vent anonymously about her husband, on the popular confessions page NUSWhispers,.

It all started while he was working from home, she says.

After investing an initial US$3,000 with a friend in the marketplace for trading in international currencies, the husband wanted to try things out on his own. He  put in another US$1,000 and lost everything.

After that, she says, he poured in US$500 a few times and finally asked her to give him US$10,000 so that he had a better chance of turning  a profit. She gave him the sum and he lost everything.

Then he started borrowing from the bank. He borrowed $36,000 from a bank to invest. “This time I was unaware that he’d borrowed money from the bank, somehow I found out by myself so I warned him to stop this but he believed he will make profit but due to market fluctuations his borrowed money was about to finish in forex so to save the loss he needs to top up,” the woman said..

Because he then wanted to try and save the money in his forex account, he withdrew $82,000 from their daughters’ account – money that the couple had saved for more than 10 years.

“Within one month all the money in his forex is lost. And now we have zero in savings”, she wrote.

She said that she was lost and did not know where to start. Desperate, she asked netizens for advice as she did not know how to  go on.

She wrote: “How to make my hubby stop this forex trading and concentrate on making money by doing some part time job apart from his job. I have two daughters who are still in primary school. My parents are also dependent on us. Please help me by providing some advice”.

Netizens were not slow to respond. Several were quick to pinpoint the problem: Gambling addiction.

/TISG

Now the

Now the