David Yong of Super Rich In Korea faces more fraud charges, denied bail

Singaporean businessman David Yong was on Aug 8 handed two new charges over falsifying accounts in relation to a promissory note arrangement involving Evergreen Group Holdings.

- Joyce Lim

The 37-year-old chief executive of Evergreen Group Holdings, whose full name is Yong Khung Lin, is accused of having the intention to defraud by abetting his employee Jolene Low Mong Han to falsify papers belonging to Evergreen GH, formerly known as Evergreen Assets Management.

Evergreen GH is one of the entities under Evergreen Group Holdings.

The new charges state that on or about Dec 16, 2021, Yong had allegedly instigated Low to falsify two tax invoices from Evergreen Assets Management for purported sales of furniture to two separate entities.

One invoice was dated May 13, 2021, made out to Evergreen Venture Capital. The other was dated Oct 22, 2021, for purported sales of furniture and interior design services to Tay Ai Chern Pearlrie.

The fresh charges come five days after Yong was charged on Aug 3 with falsification of accounts. On or about Dec 16, 2021, he had allegedly instigated Low to falsify a tax invoice from Evergreen Assets Management dated Sept 1, 2021, for purported bulk sales of household fittings and appliances to a person named Roy Teo.

If convicted, Yong could be fined or jailed for up to 10 years, or both, under Section 477A of the Penal Code.

Yong, who was featured in Netflix series Super Rich In Korea, is in remand at the Central Police Division after police arrested him on Aug 1.

He was denied bail on Aug 8 after the prosecution argued that bail should not be granted due to ongoing investigations. The additional charges indicate that further evidence was obtained during Yong's first period of remand, said the prosecution.

The prosecution said the investigations are complex, as the Evergreen group of companies headed by Yong involves numerous corporate entities both in Singapore and overseas, and many people.