34-year-old man linked to one of Singapore's biggest investment scams gets 12 more charges

[chittychitty]

SINGAPORE - A businessman allegedly linked to one of Singapore's biggest investment fraud schemes has been handed 12 more charges and is now accused of using more than $2.4 million of his purported ill-gotten gains for items including partial payments of two luxury cars- a Bentley Mulsanne and a Porsche Boxter.

Singaporean Ng Yu Zhi, who was charged on Monday (March 28) with 12 counts of dealing with the benefits of his alleged criminal activities, is also said to have used US$250,000 (S$338,000) to make a partial payment for jewellery described as a "white emerald cut diamond promise ring set with white tapered... diamond shoulders".

Ng, the former director of Envy Asset Management and Envy Global Trading, is said to be linked to a nickel trading scheme that allegedly cheated investors of at least $1.2 billion.

He was arrested in February last year and first charged with cheating and fraudulent trading the following month.

In August last year, the High Court approved the winding up of Envy Global Trading and its sister firms.

Among his latest charges, Ng allegedly removed more than US$6.5 million of his purported ill-gotten gains from Singapore's jurisdiction between March and December 2019.

He is accused of transferring the monies to bank accounts belonging to others at places including Vietnam, Cambodia and Taiwan.

Separately, he is accused of acquiring over $92 million in one of his bank accounts from other accounts, including one belonging to Envy Asset Management between March 2019 and February 2020.

More at https://www.asiaone.com/singapore/3...biggest-investment-scams-gets-12-more-charges

 

[kkbutterfly]

good.i will buy over his Bentley Mulsanne at a good steal pricing when it is auction off.

 

[eatshitndie]

if this fuckface can scam so many sinkie elites, he should be awarded the odor of temasick.

 

[Scrooball (clone)]

This fat fuck scammer married Ah Tiong Bu who was featured in a vanity piece article showing off her expensive and luxurious lifestyle. Wa lan eh....all these rich ppl look clean and shiny, but behind the scenes, the money so dirty. ATB still wanna be role model for the kid. But the dad is such a bad role model leh. And she herself wasting so much money on expensive useless jewellery is

https://en.wikipedia.org/wiki/Ng_Yu_Zhi

Personal life[edit]​

Ng is married to Fujian native and socialite Coco Cai (born c. 1991), with whom he has one child.[1] He lived with his family in a rented three-storey bungalow in Bukit Timah and owned a penthouse in Orchard Road.[1] He reportedly had a vast collection of sports cars and other luxury goods worth around S$100 million—including the only Pagani Huayra in Singapore—which was seized by the Commercial Affairs Department in 2021 as part of investigations into his alleged fraud.[17]


https://www.prestigeonline.com/sg/p...and-her-special-affinity-with-bvlgari-jewels/

Coco welcomed her first child earlier this year, a baby boy whom she says is her biggest blessing. “He has brought us infinite joy and made me want to enrich myself and become a better person,” she adds. A few months ago in August, Coco started taking cello lessons. “I’m the kind of person who lives to learn but I’m also doing it to be a good role model for my children. I want my child to be proud of me.”