Alleged nickel trading fraudster Ng Yu Zhi fails in bid to stay $23m civil suit against him

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SINGAPORE - The High Court on Friday dismissed a bid by businessman Ng Yu Zhi, who is at the centre ofNg, 34, currently faces 75 criminal charges - mostly for cheating and forgery - in relation tooff

ered by his companies, Envy Asset Management and Envy Global Trading .

The plaintiffs claim that EGT had told them that they had earned net profits of about 17 per cent, but they never received repayment of their purchase price and the profits. The application was dismissed by an assistant registrar in August, and he appealed to High Court Judge Ang Cheng Hock.

 

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