SINGAPORE — Veronica Shim Wai Han, a former Singapore Airlines flight stewardess-turned-private banker of almost 20 years' standing, broke down in court on Thursday (Nov 28) as she testified that at least two investors in businessman Ng Yu Zhi's $1.5 billion nickel trading scam 'had died directly or indirectly because of pressure from this case'.
Prosecutors alleged that Ng Yu Zhi's Ponzi scheme, which promised attractive profits from nickel trading, was "pure fiction" that duped 947 investors of almost $1.5 billion.SINGAPORE — Veronica Shim Wai Han, a former Singapore Airlines flight stewardess-turned-private banker of almost 20 years' standing, broke down in court on Thursday as she testified that at least two investors in businessman Ng Yu Zhi's $1.
On Day 3 of the criminal trial, Shim testified: "For all the victims of this case, there is still a lot of negative impact. From the day we were informed that this could be a scam, from disbelief to having to accept the pain that we could be victims of this scam, and then guilt, and... we have people coming to us saying we are stupid, and the embarrassment also."
As Shim testified how she and the others felt as victims, Ng, the heavy-set, bespectacled Singaporean now in remand, avoided making eye contact with those in the courtroom. Shim and former EWN directors Doo Chun Ki and Tan Kay Siong have been charged with various offences under the Securities and Futures Act and the Securities and Futures Regulations.
"Me and the two directors cannot even get a job till today. I am lucky I have family support, but I'm not sure about the other two. And we also have to pay for our own defence. I have built up 20 years of career experience and we had clean records in the financial industry... But we didn't expect people to come up with forged documents. We did our due diligence in good faith...
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