Singapore man linked to alleged global insider trading scheme cleared for extradition to US

A Singapore judge has reportedly approved the extradition of Singaporean Ge Zhi to the US, where he faces six charges over an alleged global insider trading scheme. — AFP pic

First Published: Friday, 02 Oct 2026 11:07 AM MYT

SINGAPORE, Oct 2 — A Singapore judge has reportedly approved the extradition of Singaporean Ge Zhi to the United States, where he faces six charges of securities fraud and money laundering over an alleged global insider trading scheme.

According to Singapore’s The Straits Times, District Judge Cheng Yuxi ordered Ge to remain in prison while awaiting the Law Minister’s warrant for his surrender to the US.

In written grounds issued yesterday, Cheng said the requirements under Singapore’s Extradition Act had been met.

Ge, who remains in remand, can reportedly apply to the High Court for a review of his detention.

He was arrested by Singapore police in July 2024 following an extradition request from the US.

According to an affidavit by a US Federal Bureau of Investigation special agent presented during an August hearing, Ge was allegedly recruited in Paris in November 2016 by Eamma Safi and another alleged co-conspirator to take part in an insider trading scheme involving several countries.

The network allegedly recruited investment bankers and other corporate insiders to provide confidential information on company financial results and mergers and acquisitions, which was then used for share trading.

The affidavit said members of the network reportedly used disposable “burner” phones, encrypted messaging apps and coded language, including “greens” for money and “races” for corporate announcements that had yet to be made public.

It also alleged that Ge and others received a share of trading profits, with one exchange referring to US$40,000 (RM163,440) in profits as “40 kg of meat”, while another participant was allegedly instructed to wire US$300,000 to a Hong Kong bank account.

The case reportedly took more than two years to reach the committal hearing after three sets of hearing dates between May 2025 and March 2026 were cancelled following applications by Ge and his then lawyers.

Cheng said an Institute of Mental Health report later found no evidence of an active mental disorder and attributed Ge’s behaviour to “a lack of willingness to cooperate with court proceedings”, while the judge said the delays were “attributable solely and directly to Mr Ge’s own applications”.