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Multimillion-dollar car of man linked to alleged $1b fraud seized
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A multimillion-dollar Pagani Huayra hypercar owned by beleaguered businessman Ng Yu Zhi was among the $100 million worth of assets seized by the Commercial Affairs Department (CAD), The Straits Times understands.
Ng, the 33-year-old director of Envy Asset Management and Envy Global Trading, was charged last week with two counts of cheating fund management company Envysion Wealth Management and its chief executive, Ms Shim Wai Han, of at least $48 million.
