SINGAPORE – The High Court has ordered the private trustees handling the bankruptcy estate of alleged fraudster Ng Yu Zhi to accept a creditor’s claim for $12 million, which was previously rejected.
The claim was filed by Veronica Shim Wai Han, the former chief executive of Envysion Wealth Management (EWM), who has alleged that Ng misled her into investing in his Envy companies with fraudulent representations.
Shim, 51, had appealed to the High Court after her proof of debt – a document filed by creditors to make a formal claim against a bankrupt debtor – was rejected by trustees Lai Seng Kwoon and Adrian Chan.
Ng, 37, is accused of masterminding a scam which attracted $1.46 billion from 947 investors, including prominent…
