A STANDARD Chartered Bank customer has lost her High Court case in which she sued the bank for selling her an underperforming, high-risk offshore bond. High Court Judge K Chenda ruled that Nachilala Nkombo failed to prove that the bank had breached its statutory duty regarding the now-defaulted Chinese property bond. Nkombo had used the bank, demanding payment of US$320,000, the amount she expected to receive at the bond’s maturity, along with US$180,000 in damages for alleged fraud, misrepresentation and negligence. In its defence, the bank denied any wrongdoing. It argued that its role was limited to that of a non-advisory distributor of third-party investment products and did not extend to being a financial advisor or investment manager. The bank...