Singaporean Faces More Charges in Alleged $1.1 Billion Scam
- Latest accusations are tied to $124 million in cash, assets
- Allegedly spent millions of dollars on jewelry, cars, artwork
Source: PR Newswire
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A Singaporean businessman accused of masterminding a massive nickel trading scam was handed additional criminal charges tied to about $124 million in cash and assets ranging from luxury cars to jewelry and artwork.
The additions brought the total number of accusations against Ng Yu Zhi to 75, according to charge sheets seen by Bloomberg News after a Singapore State Courts hearing Monday. The offenses allegedly took place between 2020 and February 2021, the documents show.