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Ng Yu Zhi of US$1.1b alleged nickel trading scam declared bankrupt

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Tay Peck Gek

Tay Peck Gek

Published Fri, Jan 13, 2023 · 10:25 PM
    • Ng Yu Zhi is facing over 100 criminal charges for his alleged involvement in the US$1.1 billion nickel trading scam.
    • Ng Yu Zhi is facing over 100 criminal charges for his alleged involvement in the US$1.1 billion nickel trading scam. PHOTO: BT FILE

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    ALLEGED nickel trading fraudster at the centre of a US$1.1 billion scam, Ng Yu Zhi, has been declared a bankrupt.

    A bankruptcy order was made against the 35-year-old businessman on Dec 22, 2022, according to the government gazette published on Friday (Jan 13).

    The Straits Times earlier reported that a court ruling had in 2022 cleared the way for the liquidators from KPMG to pursue hundreds of millions of dollars allegedly transferred wrongfully into the personal accounts of Ng in a nickel trading scam that has become one of Singapore’s biggest investment frauds.

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