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 an alleged fraud involving $1 billion. This is a record for financial fraud cases in Singapore.
On April 27, the High Court granted applications by the Envy group of companies - Envy Global Trading, Envy Asset Management and Envy Management Holdings - for the group to be placed under interim judicial management.
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
