Singapore nickel trader’s lavish lifestyle allegedly fueled by $740m fraud
Merlion and the Singapore Skyline. Credit: Wikimedia Commons
At 33, Ng Yu Zhi had all the trappings of a wildly successful trader: a Rolodex full of rich clients, a three-story villa in a posh Singapore neighborhood 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.
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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 S$1 billion ($740 million) from investors for commodity trades that didn’t exist.
Zeti s husband called up to Bukit Aman
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Singapore trader s lavish lifestyle allegedly fuelled by US$740m fraud
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Wunderkindâs alleged $970 million fraud jolts Singapore
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By Alfred Cang, David Ramli and Chanyaporn Chanjaroen
April 16, 2021 â 8.08am
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At 33, Ng Yu Zhi had all the trappings of a wildly successful trader: a Rolodex full of rich clients, a three-story villa in a posh Singapore neighbourhood and a Pagani Huayra supercar reportedly worth more than $US5 million ($6.5 million).
Local prosecutors allege Ng also had a dark secret: His lavish lifestyle, they say, was built on lies.
While little is known about Ng You Zhiâs early life, he had become an increasingly visible figure in Singaporeâs philanthropic, supercar and corporate communities in recent years.
Wunderkind s alleged $970 million fraud jolts Singapore
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