Luxury Cars and a Massive Fraud Scheme!

In a shocking revelation, Ng Yu Zhi, the man at the center of a billion-dollar nickel scam, has been caught lavishly trading luxury cars while allegedly defrauding investors of $1.46 billion. Just months after splurging $490,000 on a Bentley Mulsanne, Ng traded it for an Aston Martin Rapide, reportedly purchased for a family member.

A Lavish Lifestyle on the Line!

Details from Ng's ongoing criminal trial, highlighted by two car dealers in court, reveal he spent an astronomical $21 million on around 20 luxury cars. Facing charges of masterminding a massive fraud operation through his Envy group, Ng is accused of luring investors with promises of discounted nickel purchases.

The Relentless Testimony in Court!

Amidst the trial, car dealer Michael Ho testified about Ng's extravagant acquisitions including multiple Rolls-Royce Phantoms for his wife and girlfriends, totaling nearly $7 million across eight high-end vehicles.

From Bentleys to Aston Martins!

In December 2019, Ng acquired a used Bentley Mulsanne for $490,000, with part of the cost covered through trading in a Lamborghini Aventador for $155,000. Just months later, he exchanged the Bentley for $308,000, which was used towards the Aston Martin Rapide, priced at $325,000.

Connections and Family Links!

The Aston Martin, intriguingly transferred to Ng Siew Thiam—a man believed to be part of Ng's family—adds a layer of intrigue to the ongoing trial. In the same period, Ng also purchased a $183,000 Mercedes-Benz E200 AVG, registered under another family member's name.

Rare Finds and Girlfriend Presents!

In a twist, he bought a vintage Mercedes-Benz 280SL, a rare car dating back to the 1970s, for his girlfriend, Ms. Qian Yijun, priced at $288,000. This car is noted to be one of only a handful in Singapore.

Charges Pile Up!

Ng, 37, has been remanded since January 2024 and faces a staggering 108 charges, including cheating, forgery, and money laundering, with the prosecution currently pursuing 42 charges in this dramatic trial that began in November 2024.

The Trial Continues!

As the courtroom drama unfolds, curiosity about Ng Yu Zhi’s lifestyle and the intricacies of his fraudulent scheme keeps intensifying. What other secrets lie beneath the surface?