The Monetary Authority of Singapore (MAS) said: "We are performing a supervisory review” of Vickers Venture Partners (S) Pte Ltd. to "ascertain that it has met these requirements.”
SINGAPORE: Technology startup investor Vickers Venture Partners has been caught up in the allegedly fraudulent nickel trading scheme of a Singaporean businessman and his Envy Global Trading, prompting a review by the city-state’s monetary authority.
Vickers would be the highest-profile investor yet to have fallen victim to the suspected $740 million swindle, which Singaporean authorities have said could be the biggest investment fraud the financial hub has ever seen.
The alleged mastermind, Ng Yu Zhi, has been charged with a range of suspected crimes from faking the purchase and sale of nickel to falsifying transfers from Citibank and account statements that showed millions in funds.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
