Ng Yu Zhi gives evidence in civil hearing over purported nickel Ponzi scheme
He has been in remand with more than 100 criminal charges stemming from the alleged Ponzi scheme, said to be the largest in Singapore’s history
THE man accused of perpetrating a S$1.5 billion nickel trading scam on Thursday (Aug 15) expressed concern in his first court appearance for the civil lawsuit that his testimony would be used against him in his criminal proceedings.
It was Day 9 of the civil hearing brought by the group of Envy companies at the heart of a purported Ponzi scheme, and Ng Yu Zhi was summoned by one of the three defendants and a member of his former staff to give testimony in the High Court.
The 37-year-old told the court that the criminal case was still unresolved, “so I’m not sure if any statements given today will be prejudicial to the defence”.
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