Resolutions passed to wind up 2 firms under Envy Group linked to alleged billion-dollar nickel trading fraud

Ng Yu Zhi, one of the two directors of Envy Management Holdings, faces more than a dozen charges of cheating, fraudulent trading and forgery.
Ng Yu Zhi, one of the two directors of Envy Management Holdings, faces more than a dozen charges of cheating, fraudulent trading and forgery.ST PHOTO: KELVIN CHNG

SINGAPORE - Two firms linked to Singaporean businessman Ng Yu Zhi, the alleged mastermind behind a US$1.1 billion bogus trading scheme, are being wound up.

Resolutions were passed by the sole shareholder of the two companies at an extraordinary general meeting on June 16 to voluntarily liquidate the companies. The two firms - Envy Capital and Envy Strategic Holdings - are owned by Envy Management Holdings, where Ng, 33, is one of two directors. The other director is Ms Lee Si Ye.

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