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‘I am embarrassed by this loss’: venture capitalist Finian Tan on being duped of US$33.3 million in alleged nickel scam

Ng Yu Zhi is accused of masterminding a nickel-trading scam that attracted about S$1.5 billion

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Tay Peck Gek

Tay Peck Gek

Published Tue, Apr 8, 2025 · 01:24 PM — Updated Wed, Apr 9, 2025 · 12:27 AM
    • Alleged fraudster Ng Yu Zhi is accused of masterminding a nickel-trading scam that attracted about 947 investors, including Dr Tan (above), from 2016 to 2021.
    • Alleged fraudster Ng Yu Zhi is accused of masterminding a nickel-trading scam that attracted about 947 investors, including Dr Tan (above), from 2016 to 2021. PHOTO: ST

    [SINGAPORE] Well-known venture capitalist Finian Tan told the High Court on Tuesday (Apr 8) that he was red-faced by the loss to alleged fraudster Ng Yu Zhi.

    “I am embarrassed by this loss. If you ever lose in this way, it’s not something you would be proud of or want to repeat,” said Dr Tan on the stand for the third day in Ng’s trial.

    He had earlier commented that the worst loss was the one due to fraud.

    nickelFraudNg Yu ZhiVenture capital

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