Lee Si Ye, Ju Xiao and Cheong Ming Feng are said to be complicit in the brazen Ponzi scheme masterminded by Ng Yu Zhi
THE nickel trades that were part of a purported Ponzi scheme allegedly perpetrated by Ng Yu Zhi attracted about S$1.5 billion in funds from investors that included financiers and lawyers. About S$854 million is still owed to them.
In the trial that opened on Tuesday (Jul 30), the High Court heard the claims of the group of Envy companies at the heart of the alleged fraudulent nickel trading against two directors and an ex-employee.
The trio and Ng have been sued by Envy Global Trading, Envy Asset Management and Envy Management Holdings, as well as their three liquidators.
