SINGAPORE - Hundreds of investors who reaped $119.7 million in so-called profits from fraudulent nickel investments with Envy Global Trading (EGT) may have to return the money to the company, according to court documents seen by The Straits Times.
The 424 investors had invested in a dodgy $1.2 billion nickel trading scheme involving big-spending businessman Ng Yu Zhi, former managing director of trading companies EGT and Envy Asset Management (EAM).
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
