July 2026
DCW Monthly: July 2026
Courts have been circling the same idea since 1765: the bank pays unless there is fraud. What they have never
4 min read
In two judgments issued concurrently on 29 July 2025, the High Court of Singapore has ordered nine former employees of the insolvent Envy group of companies to repay nearly SGD 900 million (USD 700m) for their respective conduct in a SGD 1.5 billion (USD 1.17b) nickel trading fraud that has been called the largest Ponzi scheme in Singapore history.
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