According to a «Reuters» report, the prosecution said police had uncovered a plot involving to help Ng escape the city-state by land or sea.
A Singapore court on Monday increased bail for the former managing director of trading companies Envy Global Trading and the inactive Envy Asset Management, which has been implicated in a fraudulent nickel trading scheme, «Reuters» reported on Tuesday.
Bail for Ng Yu Zhi was set at $4 million, up from $1.5 million previously, the court said, citing his flight risk. They did not state the extent of Ng's involvement in the escape plans.
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Ng was responsible for outflows of S$475 million ($352 million) from Envy Group and its subsidiaries, courts have said. He faces 31 charges related to the scheme, which raised at least S$1.5 billion ($1.12 billion) from investors, which is believed to have funded a lavish lifestyle of private jets, cash gifts and more.
Court-appointed interim judicial manager of Ng's companies, KPMG, estimated his personal expenses at $2 million per month.
Police have seized some S$100 million in luxury assets, including several rare supercars, from Ng, who also has significant investments in Hong Kong, London and Switzerland.
