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Envy motor director Ng Yu Zhi in hot soup

VteckiCk

By VteckiCk,
in General Car Discussion

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VteckiCk

VteckiCk

3rd Gear

SINGAPORE - The multimillion-dollar Pagani Huayra supercar owned by beleaguered businessman Ng Yu Zhi was among the $100 million worth of assets seized by the Commercial Affairs Department (CAD), The Straits Times understands.

Ng, the 33-year-old director of Envy Asset Management and Envy Global Trading, was charged last week with two counts of cheating fund management firm Envysion Wealth Management and its chief executive, Ms Shim Wai Han, of at least $48 million.

Ng also faces two charges of being a party to his two firms, which were operated for fraudulent purposes.

At least $1 billion is believed to have been invested with Ng's two firms to purportedly finance nickel trading, making this one of the largest financial fraud cases in Singapore.

Industry sources valued Ng's Pagani Huayra - the only one in Singapore - at between $7 million and $8 million. A brand new one would cost about $12 million.

ST understands that the car was previously owned by Mr Steven Goh, chief executive of Ossia International.

The rare Italian supercar, which was first registered in 2017, was showcased at Envy Motors' showroom, according to the company's Facebook post in October 2019.

Accounting and Corporate Regulatory Authority (Acra) records showed Ng as a director of the car dealership from 2018. He was a shareholder of Envy Motors from May 22, 2018, to Oct 30, 2019.

Acra records also showed that Ng was involved in Swag EV, which deals with electric scooters, where Ms Shim of Envysion Wealth is also a director. Ng ceased his directorship with Swag EV earlier this month.

ST understands that Ng's Porsche 911 GT3 was also seized.

Ng's Ferrari 488 Pista Spider and a Toyota Lexus LS500, which came with one of the most sought-after vehicle number plates, S11T, had been sold.

A used car dealer who asked not to be named confirmed that he had bought the Toyota Lexus and the vehicle number plate.

Ng had apparently paid several hundred thousands of dollars for the car and number plate from the same dealer previously.

 

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Sunset73

Sunset73

5th Gear
  On 3/31/2021 at 11:36 PM, ER-3682 said:

You ENVY Him.?If He go to stay in Gov't Changi ''Chalets" You also ENVY Him.?

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Not saying cheating is right. But you need to have the brains, the detailed planning, the sly mind and be sophisticated enough to mastermind such a huge plan to cheat millions and billions of dollars. Makes me ENVY him too.

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ER-3682

ER-3682

Twincharged
  On 3/31/2021 at 11:44 PM, Sunset73 said:

Not saying cheating is right. But you need to have the brains, the detailed planning, the sly mind and be sophisticated enough to mastermind such a huge plan to cheat millions and billions of dollars. Makes me ENVY him too.

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If he don't get Caught..then i ENVY Him...

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Albeniz

Albeniz

Turbocharged

Learning too much from the facebook videos nowadays?

空手套白狼 to 实现财富自由。

Nowadays, a lot of fraudulent startups  and cheats using empty hands to catch white wolf, literally.

When you see a super rich young Jho Low -look alike fat guy who is able  amassed huge money at a tender age, better siam far far.

Best advice in 2021.

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kobayashiGT

kobayashiGT

Internal Moderator

He has the same nose as jackie chan. Got 福氣! hahaha.

 

I also envy him till the max.

 

Anyway, I saw a gogoro inside his showroom.hahaha. He wanna bring in and sell ah? hahahahah

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kobayashiGT

kobayashiGT

Internal Moderator
  On 4/1/2021 at 12:37 AM, Albeniz said:

Learning too much from the facebook videos nowadays?

空手套白狼 to 实现财富自由。

Nowadays, a lot of fraudulent startups  and cheats using empty hands to catch white wolf, literally.

When you see a super rich young Jho Low -look alike fat guy who is able  amassed huge money at a tender age, better siam far far.

Best advice in 2021.

Expand  

Lucky I Skinny like hell. 🤣

Maybe I can be the new face for scam. 😈

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Maxus-MIFA9

Maxus-MIFA9

Supersonic
  On 3/31/2021 at 11:36 PM, ER-3682 said:

You ENVY Him.?If He go to stay in Gov't Changi ''Chalets" You also ENVY Him.?

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Not easy to go and stay hor ..... 

Depending on how one goes in for vacations ....

Some goes in and never comes out again, some goes in and with [whip] .... [grin]

 

:XD:

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Maxus-MIFA9

Maxus-MIFA9

Supersonic
  On 4/1/2021 at 12:45 AM, Jamesc said:

Cheap cars for sale soon.

:D

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Still cannot affort unless tonight TOTO first price & only one winner is me .... [sly]

S$7 million .... [sweatdrop]

Even have that kind of money, I rather buy a Merc S400 + one 4-rooms freehold condo.... [rolleyes]

:grin:

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kobayashiGT

kobayashiGT

Internal Moderator
  On 4/1/2021 at 12:49 AM, Picnic06-Biante15 said:

Still cannot affort unless tonight TOTO first price & only one winner is me .... [sly]

S$7 million .... [sweatdrop]

Even have that kind of money, I rather buy a Merc S400 + one 4-rooms freehold condo.... [rolleyes]

:grin:

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You tonight buy more.

More you buy = More chances.

 

toto is a probability game.

 

 

 

 

 

But most probable you will lose out to Singapor Pools. hahahahahah.

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Watwheels

Watwheels

Supersonic
(edited)
  On 4/1/2021 at 12:37 AM, Albeniz said:

Learning too much from the facebook videos nowadays?

空手套白狼 to 实现财富自由。

Nowadays, a lot of fraudulent startups  and cheats using empty hands to catch white wolf, literally.

When you see a super rich young Jho Low -look alike fat guy who is able  amassed huge money at a tender age, better siam far far.

Best advice in 2021.

Expand  

If only looks are so easy to judge.

Then there wont be so many victims.

Edited by Watwheels
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Throttle2

Throttle2

Supersonic
  On 4/1/2021 at 1:05 AM, Watwheels said:

If only looks are so easy to judge.

Then there wont be so many victims.

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Actually looks are pretty easy to judge, especially together with demeanor.  However, it does take a discerning knowledgeable sharp person to do that.

one look at this feichai and you know he is up to no good.   Put money with him?  🤦🏻‍♂️

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