Two of the new charges accuse Ng of deceiving Nai Soon Tong out of US$10 million. The charge sheets also mentioned another investor, Ong Suat Kuan, who was conned out of US$4.4 million.
In the case that has riveted Singapore’s moneyed classes, Ng was first charged in March for allegedly raising at least $1.46 billion in what authorities have called one of the city-state’s largest-ever suspected investment fraud schemes.
Investors include renowned investors and lawyers from Finian Tan, founder and chairman of Vickers Ventures Partners, and Pek Siok Lan, general counsel for state-owned investor Temasek International.
Read how Envy founder allegedly swindled US$352 million for jet-set life
In August, Singapore’s High Court approved liquidation plans for Ng’s Envy Group, which includes Envy Global Trading and its sister firms. The next court session will be held on Dec. 20.
Photo: Bloomberg
