Singaporean businessman Ng Yu Zhi, who was charged earlier this week over his alleged involvement in cheating investors through fake deals, has been removed from his managing director role at Envy Global Trading Pte.

See: Ng Yu Zhi charged for nickel investment scam involving at least $1 billion

An independent interim management committee has been established to ensure Envy Global Trading continues to meet its obligations to clients in full cooperation with the authorities, the commodities trader said in a statement Saturday. It didn’t identify members of the committee.

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