Envy Global Trading removes Singaporean Managing Director on police probe

Ng Yu Zhi was charged with two counts of cheating and two of being a party to fraudulent trading on March 22, 2021. Picture via The Straits Times/ANN

SINGAPORE, March 28 (Bloomberg): Singaporean businessman Ng Yu Zhi, who was charged earlier this week over his alleged involvement in cheating investors through fake deals, has been removed from his managing director role at Envy Global Trading Pte.

An independent interim management committee has been established to ensure Envy Global Trading continues to meet its obligations to clients in full cooperation with the authorities, the commodities trader said in a statement Saturday. It didn’t identify members of the committee.