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CEO Who Sold Supercar to Ng Yu Zhi for $7.3m Lost $11m in Nickel Scam
The Straits Times
|April 25, 2025
Ossia chief invested in alleged fraudster's Envy companies from 2018 to 2021
Businessman Steven Goh Ching Huat, who sold a rare supercar to alleged fraudster Ng Yu Zhi for $7.3 million, had invested millions in Ng's billion-dollar nickel trading scheme.
Mr Goh, chief executive of lifestyle products retailer Ossia International, told the High Court on April 24 that he invested more than $20 million in Ng's Envy companies from 2018 until Ng was arrested in 2021.
Mr Goh got back about $10 million and lost about $11 million, he said through a Mandarin interpreter.
He was testifying in Ng's ongoing criminal trial for 42 charges of cheating, forgery, criminal breach of trust, money laundering and fraudulent trading.
The 37-year-old is accused of masterminding a scam which attracted $1.46 billion from 947 investors over six years.
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