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S$1b nickel scam has 'limited' impact on fund-management industry: MAS
Fraud case involving nickel deals that didn't materialise has embroiled fund managers; lawyers among alleged victims
Published Mon, Jun 28, 2021 · 09:50 PM
Singapore
THE Monetary Authority of Singapore (MAS) has assessed investments by three licensed fund managers into an entity linked to a S$1 billion fraud scheme, and determined the impact on the fund-management industry to be "limited", it said on Monday. READ MORE:
Envysion Wealth Management, Vickers Venture Partners and Sun Hope Capital had invested into Envy Global Trading, one of two entities allegedly used by Singaporean businessman Ng Yu Zhi to swindle investors with nickel deals that did not materialise.
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