The Business Times

A S$7 million Pagani supercar, a 20-carat yellow diamond, an S$8 million home: accused nickel fraudster Ng Yu Zhi shows you how to spend it

Summarise

Jordan Loo

Published Fri, May 16, 2025 · 10:15 AM
    • Ng Yu Zhi is said to have spent more than S$21 million in total on about 20 luxury cars, some of which were later transferred to others including his partners.
    • Ng Yu Zhi is accused of leading a nickel-trading scam through his companies for six years, collecting nearly S$1.5 billion from 947 investors including high-profile financiers.
    • Ng Yu Zhi is on trial for 42 charges including cheating, criminal breach of trust and money laundering.
    • Ng Yu Zhi is said to have spent more than S$21 million in total on about 20 luxury cars, some of which were later transferred to others including his partners. ILLUSTRATION: MARIO MONREAL, BT
    • Ng Yu Zhi is accused of leading a nickel-trading scam through his companies for six years, collecting nearly S$1.5 billion from 947 investors including high-profile financiers. PHOTO: BT FILE
    • Ng Yu Zhi is on trial for 42 charges including cheating, criminal breach of trust and money laundering. PHOTO: BT FILE

    [SINGAPORE] How do you spend S$1.5 billion? Alleged nickel fraudster Ng Yu Zhi definitely has some ideas.

    Ng, who is on trial for 42 charges including cheating, criminal breach of trust and money laundering, is accused of leading a nickel-trading scam through his companies for six years, collecting nearly S$1.5 billion from 947 investors including high-profile financiers. 

    From a 20-carat yellow diamond to a S$7 million Pagani supercar, these are some of his excesses allegedly using other people’s money.

    Financial crimesNg Yu ZhiFraud

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