Yong, the CEO of multinational Evergreen Group Holding, was charged in Singapore on August 15 for falsifying financial documents related to Evergreen GH, a subsidiary of his company, previously known as Evergreen Assets Management.
According to The Straits Times, the 37-year-old Singaporean businessman allegedly directed another individual, Thung Sai Fun, to falsify several line items in financial statements, inflating profits to nearly S$8 million for the fiscal year ending March 2022. For this charge, Yong could face a maximum penalty of 10 years’ imprisonment, a fine, or both.
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David Yong is featured in a promotional poster for the Netflix series “Super Rich in Korea.” Photo from hisInstagram |
Yong was arrested on Aug. 1 and was charged two days later for allegedly encouraging a woman named Jolene Low Mong Han to falsify documents for Evergreen GH related to the supposed bulk sale of household items.
He received his second and third charges on Aug. 8, related to a promissory note arrangement involving Evergreen Group Holdings. These charges also involve falsified tax invoices for furniture sales to two different entities, according to the Business Times.
Yong claimed to be part of “Singapore’s top 1% super rich” on the Netflix show “Super Rich in Korea,” according to CNA.
“Super Rich in Korea,” a six-part series released on May 7, highlights the lavish lifestyles of some of Seoul’s top 1%, who have made the city their second home due to their love for Korean culture, according to the SCMP.
In the show, Yong is depicted living in a luxurious rented flat at the Signiel Seoul Hotel, complete with a butler, in-room dining service, a virtual golf facility, and valet parking. The series also shows Yong traveling by private jet and discussing his four-story villa in Singapore, which features a lift and swimming pool.
