Such financial frauds are normalcy in any financials pursuing societies that including Hong-Kong, Taiwan, China, London, EU and N.Y., etc., doubtlessly! Their thinking went veered..
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Singapore files 13 more charges in massive nickel trading fraudSingapore prosecutors on Monday filed 13 additional charges against a local businessman in relation to a scheme that allegedly raised more than S$1 billion ($746 million) from investors to fund bogus nickel trades. Authorities in the city state have implicated Ng Yu Zhi, a former managing director of trading companies Envy Global Trading (EGT) and an inactive firm, Envy Asset Management, in the fraud scandal, one of the biggest in Singapore. According to the charge-sheets, prosecutors allege that Ng cheated nine individuals and three corporate entities of about $63.6 million in connection with EGT's non-existent forward nickel contracts.
Source: YahooSG - 🏆 3. / 71 Read more »