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Singapore businessman linked to alleged fraud of S$1bil faces more charges

Blogger finishes paying PM Lee $150,000 for defamation using crowdfunding

The Straits Times Blogger Roy Ngerng finishes paying PM Lee $150,000 for defamation using crowdfunding In 2016, the High Court found that Roy Ngerng had defamed PM Lee in a 2014 blog post.PHOTO: ST FILE https://str.sg/JtYh They can read the article in full after signing up for a free account. Share link: Or share via: Sign up or log in to read this article in full Sign up All done! This article is now fully available for you Read now Get unlimited access to all stories at $0.99/month for the first 3 months. Get unlimited access to all stories at $0.99/month for the first 3 months.

Singapore businessman Ng Yu Zhi linked to alleged fraud of record S$1bil, hit with 2 more charges

Ng Yu Zhi now faces a total of 11 counts of cheating, fraudulent trading and forgery involving about $57 million. - ST SINGAPORE (The Straits Times/ANN): A Singaporean businessman linked to an alleged fraud involving more than S$1 billion is facing two more charges for forging bank documents. Ng Yu Zhi, 34, is accused of fabricating two electronic records -- one of a US$60 million ($79.5 million) bank transfer and the other, US$302 million that was purportedly the balances of his company's bank account. With the latest charges, Ng now faces a total of 11 counts of cheating, fraudulent trading and forgery. Ng, the director of Envy Asset Management (EAM) and Envy Global Trading, is said to have raised the money from investors, purportedly to finance nickel trading.

S'pore businessman Ng Yu Zhi, linked to alleged fraud of record $1 billion, hit with 2 more charges

The Straits Times S'pore businessman Ng Yu Zhi, linked to alleged fraud of record $1 billion, hit with 2 more charges Ng Yu Zhi now faces a total of 11 counts of cheating, fraudulent trading and forgery involving about $57 million.ST PHOTO: KELVIN CHNG https://str.sg/JFe6 They can read the article in full after signing up for a free account. Share link: Or share via: Sign up or log in to read this article in full Sign up All done! This article is now fully available for you Read now Get unlimited access to all stories at $0.99/month for the first 3 months.

Singapore businessman linked to alleged fraud of record $1 billion hit with 2 more charges

S'porean linked to alleged $1b fraud hit with 2 more charges

The Straits Times S'porean linked to alleged $1b fraud hit with 2 more charges With the latest charges, Ng Yu Zhi now faces a total of 11 counts of cheating, fraudulent trading and forgery. https://str.sg/JFhx They can read the article in full after signing up for a free account. Share link: Or share via: Sign up or log in to read this article in full Sign up All done! This article is now fully available for you Read now Get unlimited access to all stories at $0.99/month for the first 3 months. Get unlimited access to all stories at $0.99/month for the first 3 months.

Trading Wunderkind's Alleged $740 Million Fraud Jolts Singapore

Singapore trader's lavish lifestyle allegedly fuelled by $1 billion fraud

Suhaimi Abdullah/Getty Images A Singapore trader has been charged with four counts of fraud for allegedly raising at least $1 billion from investors for commodity trades that didn't exist (file photo). At 33, Ng Yu Zhi had all the trappings of a wildly successful trader: a Rolodex full of rich clients, a three-storey villa in a posh Singapore neighbourhood and a Pagani Huayra supercar reportedly worth more than $5 million. Local prosecutors allege Ng also had a dark secret: his lavish lifestyle, they say, was built on lies. In a case that has riveted Singapore's moneyed classes, Ng was charged last month with four counts of fraud for allegedly raising at least $1 billion from investors for commodity trades that didn't exist.

How a Singapore trader allegedly defrauded investors of $740m

SHARE At 33, Ng Yu Zhi had all the trappings of a wildly successful trader: a Rolodex full of rich clients, a three-storey villa in a posh Singapore neighbourhood and a Pagani Huayra supercar reportedly worth more than $5 million. Local prosecutors allege Mr Ng also had a dark secret: His lavish lifestyle, they say, was built on lies. In a case that has riveted Singapore’s moneyed-classes, Mr Ng was charged last month with four counts of fraud for allegedly raising at least S$1 billion ($740m) from investors for commodity trades that didn’t exist. The police have called it one of the city-state’s largest-ever suspected investment fraud schemes. It’s also the latest in a series of scandals in the financial and commodities-trading hub, where assets under management have swelled to S$4 trillion thanks largely to inflows from overseas.

Singapore trader's lavish lifestyle allegedly fuelled by $966m fraud

In a case that has riveted the island nation’s moneyed classes, prosecutors allege a 33-year-old trader stole hundreds of millions from clients, blowing it on a $US5 million supercar and other trappings.