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Singapore News - At the centre of a US$1.1 billion (S$1.45 billion) scam, deemed by prosecutors as one of Singapore’s largest investment fraud schemes, stands alleged nickel trading fraudster Ng Yu Zhi. Ng, whose case is to be heard by the High Court, faces 105 criminal charges in... Read more at www.tnp.sg
The Straits Times Envy nickel trading boss alarmed some banks in Singapore long before his arrest Ng Yu Zhi allegedly misappropriated at least $201 million from Envy Global Trading's account at DBS.PHOTOS: REUTERS, KELVIN CHNG Published7 hours ago https://str.sg/3Jfy 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...
Wednesday, 21 Apr 2021 09:19 AM MYT Ng Yu Zhi arriving at the State Courts on April 20, 2021. — TODAY pic Subscribe to our Telegram channel for the latest updates on news you need to know. SINGAPORE, April 21 — The former managing director of commodities trader Envy Global Trading, who is alleged to be behind one of the largest financial fraud cases here, was charged yesterday with five more cheating offences involving about S$8.8 million (RM27.3 million). Ng Yu Zhi, 34, was first hauled to court last month. He then faced four charges of cheating and being a party to fraudulent trading in...
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 char...
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...