SINGAPORE – Ng Yu Zhi, the alleged perpetrator of a US$1.1 billion nickel trading scam, has been declared a bankrupt ahead of a hearing on his criminal case in State Courts on Tuesday.
A bankruptcy order was made against the 35-year-old on Dec 22, 2022, according to the government gazette published on Jan 13.
This comes after a bankruptcy application was taken out against Ng shortly after the High Court in May 2022 cleared the way for liquidators to pursue hundreds of millions of dollars allegedly transferred wrongfully into Ngs personal accounts.
KPMG partner Adrian Chan and Reliance Audit founder SK Lai were appointed bankruptcy trustees and have begun identifying Ngs assets, a source close to the case said.
Ng and three others were …
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