Nickel trading firm in alleged billion-dollar fraud sued for $50m, group placed under interim judicial management

Ng Yu Zhi is accused of involvement in deceiving investors into putting at least $1 billion into nickel deals that never took place.
Ng Yu Zhi is accused of involvement in deceiving investors into putting at least $1 billion into nickel deals that never took place.PHOTOS: KELVIN CHNG, REUTERS

SINGAPORE - At least four lawsuits have been filed in court by investors seeking to claim some $50 million from Envy Global Trading and its director Ng Yu Zhi.

The nickel trading firm and Ng, 33, have been linked to the alleged fraud of a record $1 billion.

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