25
Mar
11:00
Singapore files nickel fraud charges: report
Prosecutors in Singapore filed charges this week alleging fraud and cheating by Ng Yu Zhi, a director of Envy Global Trading Pte Ltd and Envy Asset Management Pte Ltd, in connection with a nickel trading scam, according to a Reuters report.
The two companies are believed to have raised at least SGD 1 billion ($742.4 million) from investors for nickel trading activities between October 2017 and February 2021, Kallanish notes. Ng was charged with cheating fund manag…
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