‘World came crashing down’: Former Envy director and family invested more than $40m in nickel scam
Ng Yu Zhi, the man accused of masterminding the alleged scam, arriving at the State Courts in January 2023. PHOTO: ST FILE
UPDATED Apr 02, 2025, 12:18 AM
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SINGAPORE - The former executive director of the Envy companies cried on the stand on April 1 as he talked about how “the world came crashing down” on his family, who had invested more than $40 million in a nickel-trading scam.
Mr Lau Lee Sheng was testifying in the ongoing trial of 37-year-old Ng Yu Zhi, the man accused of masterminding the alleged scam, which attracted $1.46 billion from investors through his companies Envy Asset Management and Envy Global Trading.
Ng faces 108 charges over offences including cheating, forgery, criminal breach of trust, money laundering and fraudulent trading.
The prosecution is proceeding on which began in November 2024.
Mr Lau, a former secondary schoolmate of Ng, whose companies he joined, told the court that he invested $26 million in the scam, while his father put in another $15 million to $16 million.
……Read full article on The Straits Times - Singapore
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JC JC 03/04/2025
This guy should be sentence to life till natural death . Others hard earned money just disappeared just because of this guy
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