alleged nickel-trading fraudster\u00a0Ng Yu Zhi<\/span><\/a> agreed to be Ng\u2019s surety linked to a bail sum of $1.5 million.<\/p>\nCourt documents stated that private-hire driver Chua Eng Kiam, 68, knew that Ng, 38, would provide the money needed for the bail.<\/p>\n
The prosecution said: \u201cNone of (Chua\u2019s) money was at risk of forfeiture, and he knew full well that Ng would be responsible for the money should bail be forfeited.\u201d<\/p>\n
On April 16, Chua was sentenced to two months\u2019 jail after he pleaded guilty to a bail-related offence.<\/p>\n
Ng is accused of masterminding a nickel-trading scam\u00a0that attracted more than $1 billion from multiple investors.<\/p>\n
His case is pending. Chua\u2019s daughter divorced him in 2025.<\/p>\n
Deputy public prosecutors Matthew Choo and Brian Tan told the court that between March 2021 and March 2022, Ng was handed 105 charges for offences including cheating and forgery.<\/p>\n
His charges were transmitted to the High Court in January 2023, and the State Court then imposed a bail sum of $6 million. <\/p>\n
In March that year, Ng was released on bail linked to two sureties \u2013 his own father and another person known as Quek Chin Chuan \u2013 in sums of $4.5 million and $1.5 million, respectively.<\/p>\n
On or before June 23, 2023, Ng asked Chua to replace one of his sureties linked to a bail sum of $1.5 million.<\/p>\n
Chua was also told that Ng would borrow the sum from his own friends.<\/p>\n
Despite not having enough in cash or assets, Chua agreed with Ng\u2019s request to be a surety for the sum of $1.5 million. <\/p>\n
Chua also knew that he was unable to furnish the required bail amount.<\/p>\n
Court documents stated that Ng then arranged for others to be falsely identified in sham loan agreements with Chua.<\/p>\n
The DPPs said multiple people then agreed to be identified as Chua\u2019s lenders.<\/p>\n
On or around June 27, 2023, Chua executed agreements with multiple people linked to loan amounts totalling more than $1 million.<\/p>\n
The DPPs said: \u201c(Chua) agreed with Ng to sign the loan agreements and to bring them to court, knowing that they were only for the purposes of showing to the court to prove his source of funds for the bail money. <\/p>\n
\u201cThe accused… understood from Ng that he was not required to repay any of these loans, even though his name was reflected on the respective agreements as the borrower.\u201d<\/p>\n
Ng later arranged for Chua to be provided with more than $1.5 million, the court heard.<\/p>\n
After receiving the amount, Chua opened two fixed deposit accounts and $1.5 million was later credited into them.<\/p>\n
On June 28, 2023, the court granted Quek\u2019s application to be discharged as a bailor, and allowed Chua to be the replacement.<\/p>\n
Chua also handed over the loan agreements to a State Courts officer.<\/p>\n
Without revealing details, the prosecutors said that while out on bail, Ng allegedly committed offences linked to the sale of a shophouse in Bussorah Street near Beach Road between October and November that year.<\/p>\n
He was arrested on Jan 29, 2024, and later handed several additional charges for offences including forgery.<\/p>\n
Ng\u2019s bail was revoked on Feb 7 that year.<\/p>\n
Two days later, the Commercial Affairs Department (CAD) seized the bail sum of $1.5 million linked to Chua. CAD officers later arrested Chua on Dec 4, 2025.<\/p>\n
On April 16, the DPP asked for him to be given up to 11 weeks\u2019 jail, adding: \u201cThe accused intentionally misled the district court that he was a fit and proper surety who had the means to stand as surety for the bail bond and was the legal owner of the bail sum.<\/p>\n
\u201cThe accused\u2019s offending was difficult to detect, given the use of formal and written loan agreements that provided a veneer of legitimacy.\u201d<\/p>\n
Chua was represented by lawyer N. K. Anitha, who pleaded for her client to be given either a maximum fine of $5,000 or a week behind bars.<\/p>\n
The lawyer from Anitha and Asoka law firm said: \u201cChua did not play any role in the procurement of the lenders or arrangement of the bail monies… He was not motivated by avarice.<\/p>\n
\u201cHe agreed to stand as surety for Ng because Ng was his son-in-law and he wished to help his daughter\u2019s family.\u201d<\/p>\n
Chua\u2019s bail has been set at $5,000, and he is expected to begin serving his sentence on April 27.<\/p>\n<\/div>\n
\n
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