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Singaporean allegedly swindled $352 million for jet-set life in country's largest fraud case


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Ng Yu Zhi, 34, was responsible for outflows of S$475 million (US$352 million) from his Envy Group of companies, according to a report by court-appointed judicial managers for the firms. The report was distributed to investors and seen by Bloomberg News. That compared with confirmed net inflows of S$841.5 million from investors, the report said, adding the tracing of fund flows is ongoing.
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Singaporean allegedly swindled $352 million for jet-set life in country s largest fraud case Back to video
Ng spent about S$2 million a month to fund his lifestyle, which included the services of a butler and chauffeur, and expenditure on alcohol, hotel rooms and at fine dining restaurants, the report showed. He made “significant monetary gifts to close associates,” it said. ....

Bob Yap , Yu Zhi , Alfred Cang , Chanyaporn Chanjaroen , David Ramli , Envysion Holdings Pte , Monetary Authority Of Singapore , Davinder Singh Chambers , Postmedia Network Inc , Mf Global Holdings Ltd , Calgary Herald , Lehman Brothers Holdings Inc , Envy Group , Envy Global Trading , State Court , Envysion Wealth Management , Veronica Shim , Monetary Authority , Holdings Ltd , Postmedia Network , Street East , பாப் யாப் , யூ ழி , ஆல்ஃபிரட் காங் , டேவிட் ராம்லி , பண அதிகாரம் ஆஃப் சிங்கப்பூர் ,

Alleged Singapore Fraudster Took $352 Million for Jet-Set Life


Jul 03 2021, 9:51 AM
July 02 2021, 7:36 PM
July 03 2021, 9:51 AM
(Bloomberg) The businessman allegedly behind Singapore’s biggest investment fraud is said to have pocketed more than half of the net funds investors poured into his company as a document pointed to lavish spending on private jets, nightclubs and cash gifts.
(Bloomberg) The businessman allegedly behind Singapore’s biggest investment fraud is said to have pocketed more than half of the net funds investors poured into his company as a document pointed to lavish spending on private jets, nightclubs and cash gifts.
Ng Yu Zhi, 34, was responsible for outflows of S$475 million ($352 million) from his Envy Group of companies, according to a report by court-appointed judicial managers for the firms. The report was distributed to investors and seen by Bloomberg News. That compared with confirmed net inflows of S$841.5 million from investors, the report said, adding the tracing of fund flows is ....

Bob Yap , Yu Zhi , Davinder Singh Chambers , Envy Group , பாப் யாப் , யூ ழி , டேவிந்தர் சிங் அறைகள் , பொறாமை குழு ,