Molten nickel being poured into moulds. Picture for representation purposes only. – REUTERSPIXThe Monetary Authority of Singapore is conducting a supervisory review of Envysion Wealth Management Pte Ltd following an alleged fraud involving nickel trading by two other companies, it said in a statement on Monday.
The regulator's statement said that Ng Yu Zhi, a director at both Envy Global Trading and Envy Asset Management, is alleged to have cheated Envysion Wealth Management and its founder and chief executive Shim Wai Han of at least S$48 million .
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