SINGAPORE - A massive investment fraud scheme that allegedly ensnared high-profile investors such as the chairman of Vickers Capital Group Finian Tan and even notable names in Singapore's legal fraternity has stunned many - given the calibre of the investors involved and the amounts they lost.
Ng Yu Zhi, 34, a little known businessman until four months ago, is accused of having swindled investors into putting at least $1.2 billion into non-existent nickel deals - making his the first-ever investment fraud case here to hit the billion-dollar range.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you