Singapore Charges Envy’s Ng for Allegedly Forging Bank Documents
- Ng Yu Zhi was charged with fraudulently making false records
- The additional charges takes total counts against Ng to 11
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Singapore has brought charges of forging bank documents against a businessman who has already been accused of allegedly raising at least S$1 billion ($754 million) from investors for commodity trades that didn’t exist.
Singaporean Ng Yu Zhi, 34, is charged with fraudulently making a false electronic record to show $60 million had been transferred from Envy Asset Management Trading’s Citibank account to another account in February, according to a new charge sheet seen by Bloomberg News. The record was made with intent to commit fraud, it said.