SINGAPORE – Two firms linked to Singaporean businessman Ng Yu Zhi, the alleged mastermind behind a US$1.1 billion bogus trading scheme, are being wound up.

Resolutions were passed by the sole shareholder of the two companies at an extraordinary general meeting on June 16 to voluntarily liquidate the companies. The two firms – Envy Capital and Envy Strategic Holdings – are owned by Envy Management Holdings, where Ng, 33, is one of two directors. The other director is Ms Lee Si Ye.

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