The Business Times
business-time-50
SUBSCRIBERS

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

google-preferred-sourceAdd BT as a preferred source
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

    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.

    nickelLawsuitsSpotlight

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Senior Minister of State for Digital Development and Information Tan Kiat How said the government is working with partners who have access to Anthropic's Mythos to understand its capabilities.

    MAS, bank CEOs convene over AI cyberthreats; boards told to own risks, not leave to IT teams

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    The message was sent with addresses under the carbon copy feature instead of blind carbon copy, meaning that all recipients could see all the other e-mail addresses in the chain. 

    LTA circular to potential EV charger owners reveals hundreds of e-mail addresses under carbon copy feature 

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More