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(Bloomberg Businessweek) -- Not long after the novel coronavirus arrived in Singapore, forcing the hyperconnected city-state to shut its borders for the first time, a rumor circulated among its many wealthy people—and among others who weren’t so well-off.
Article content Ng Yu Zhi, 34, was responsible for outflows of S$475 million (US$352 million) from his Envy Group of companies, according to a report by court-appointed judicial managers for the firms. The report was distributed to investors and seen by Bloomberg News. That compared with confirmed net inflows of S$841.5 million from investors, the report said, adding the tracing of fund flows is ongoing. We apologize, but this video has failed to load. Try refreshing your browser, or Singaporean allegedly swindled $352 million for jet-set life in country's largest fraud case Back to video N...
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The partnership between major trading house Mercuria and Envysion Wealth Management aims to fill the financing void in the commodities trading sector.