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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.
Denne historien er fra April 25, 2025-utgaven av The Straits Times.
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FLERE HISTORIER FRA The Straits Times
The Straits Times
Abuse Young children in dysfunctional families face high risks
The physical and mental abuse Megan Khung suffered has left Singaporeans reeling over how this could have happened here.
1 min
October 28, 2025
The Straits Times
Doctors Dishonesty a serious matter to SMC and courts
The commentary “Are doctors in Singapore being disciplined fairly?
2 mins
October 28, 2025
The Straits Times
Better tracking needed to measure hearing loss
Hearing loss is a lot more than an ear issue, and is linked to cognitive decline, loneliness, increased fall risk, malnutrition, and even diabetes (Sumiko at 61: Hearing loss is linked to dementia risk.
1 mins
October 28, 2025
The Straits Times
'Yacht expert' among 3 S'poreans named as co-conspirators of Cambodian tycoon in US probe
Three Singaporeans allegedly implicated in a major probe by the United States and Britain targeting cybercrime include a self-styled yacht expert.
2 mins
October 28, 2025
The Straits Times
FROM HEARTBREAK TO CONQUERING THE HARD COURTS
In this series, The Straits Times highlights the players or teams to watch in the world of sport.
5 mins
October 28, 2025
The Straits Times
S'pore firm sanctioned by US was involved in HDB projects
Khoon Group under scrutiny over links to China-born tycoon in cybercrime probe
6 mins
October 28, 2025
The Straits Times
Rape Father sentenced to 24 years’ jail
A 54-year-old man, who was goaded by his lover to commit sexual acts on his daughter, was sentenced to 24 years’ jail on Oct 27.
1 min
October 28, 2025
The Straits Times
Art appreciation Louvre museum heist a wake-up call
I've seen photos of the Louvre in textbooks and read about the Mona Lisa and the endless halls lined with art.
1 min
October 28, 2025
The Straits Times
S’pore eyes renewable fuel, nuclear tie-ups in drive for diverse energy mix: Tan See Leng
Singapore must be ready to support all promising pathways, from established technologies to novel options, in its bid to transition its fossil fuel-based energy sector to one that is clean yet affordable, said Minister-in-charge of Energy and Science and Technology Tan See Leng on Oct 27.
4 mins
October 28, 2025
The Straits Times
Japan's new leader faces an early test: Winning over Trump
Ms Sanae Takaichi, who last week became the first woman to lead Japan as prime minister, has never met US President Donald Trump.
3 mins
October 28, 2025
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