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

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.