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