SINGAPORE: Singaporean businessman David Yong, who starred in Netflix show Super Rich In Korea, was given two fresh charges linked to falsifying tax invoices on Thursday (Aug 8).
The 37-year-old chief executive officer of multinational business and holding company Evergreen Group Holdings, is accused of abetting a woman named Low Mong Han, Jolene in falsifying papers from Evergreen GH.
Around Dec 16, 2021, he allegedly instigated Ms Low to cook two tax invoices issued by Evergreen Assets Management in May and October 2021.
The invoices were purportedly for the sale of furniture to Evergreen Venture Capital and the sale of furniture and interior design services to a Tay Ai Chern Pearlrie respectively.
Yong, whose name per court records is Yong Khung Lin, was first charged on Aug 3 for one count of instigating Ms Low to falsify a tax invoice dated 1 Sep, 2021, issued by Evergreen Assets Management.
The invoice was purportedly for bulk sales of household fittings and appliances to a Mr Roy Teo.
Across the three charges, Yong allegedly abetted the falsification with the intent to defraud, in his capacity as an officer of Evergreen GH, one of the companies under Evergreen Group Holdings.
He has been remanded since Aug 3 and was denied bail on Thursday, although his lawyer Mr Sunil Sudheesan from Quahe Woo & Palmer argued for it.
If convicted of abetting the falsification of invoices, he faces up to 10 years' jail, a fine, or both per charge.
Yong had declared himself as part of "Singapore's top 1 per cent rich" on the Netflix show, which showcases the lifestyles of extremely affluent people who set up base in Korea.
The police said in a statement on Aug 3 that its Commercial Affairs Department (CAD) was investigating Evergreen Group Holdings' business activities for alleged fraud.
Investigations began because of suspicions of misuse of investors' money, said the police.
Various companies under Evergreen Group Holdings were raising funds through the issuance of promissory notes that promised an annual interest of 10 per cent.
These promissory notes - legal instruments where one party promises to pay another party a sum of money - may have been issued in contravention of the Securities and Futures Act, they added.
Companies under the name include Evergreen Grp Holdings, Evergreen GH - formerly known as Evergreen Assets Management (Singapore), and Everventures.
According to Evergreen Group Holdings' website, the company was established in the 1990s and now has a presence in Singapore, Japan, South Korea, Hong Kong, Cambodia, Vietnam and Malaysia.
It started out as a timber company and is now involved in finance, automotive, real estate and lifestyle industries.
Other than Yong, the police said they had arrested another 37-year-old man from the company's management in relation to the investigation.
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The 37-year-old chief executive officer of multinational business and holding company Evergreen Group Holdings, is accused of abetting a woman named Low Mong Han, Jolene in falsifying papers from Evergreen GH.
Around Dec 16, 2021, he allegedly instigated Ms Low to cook two tax invoices issued by Evergreen Assets Management in May and October 2021.
The invoices were purportedly for the sale of furniture to Evergreen Venture Capital and the sale of furniture and interior design services to a Tay Ai Chern Pearlrie respectively.
Yong, whose name per court records is Yong Khung Lin, was first charged on Aug 3 for one count of instigating Ms Low to falsify a tax invoice dated 1 Sep, 2021, issued by Evergreen Assets Management.
The invoice was purportedly for bulk sales of household fittings and appliances to a Mr Roy Teo.
Across the three charges, Yong allegedly abetted the falsification with the intent to defraud, in his capacity as an officer of Evergreen GH, one of the companies under Evergreen Group Holdings.
He has been remanded since Aug 3 and was denied bail on Thursday, although his lawyer Mr Sunil Sudheesan from Quahe Woo & Palmer argued for it.
If convicted of abetting the falsification of invoices, he faces up to 10 years' jail, a fine, or both per charge.
Yong had declared himself as part of "Singapore's top 1 per cent rich" on the Netflix show, which showcases the lifestyles of extremely affluent people who set up base in Korea.
SUSPECTED MISUSE OF INVESTORS' CASH
The police said in a statement on Aug 3 that its Commercial Affairs Department (CAD) was investigating Evergreen Group Holdings' business activities for alleged fraud.
Investigations began because of suspicions of misuse of investors' money, said the police.
Various companies under Evergreen Group Holdings were raising funds through the issuance of promissory notes that promised an annual interest of 10 per cent.
These promissory notes - legal instruments where one party promises to pay another party a sum of money - may have been issued in contravention of the Securities and Futures Act, they added.
Companies under the name include Evergreen Grp Holdings, Evergreen GH - formerly known as Evergreen Assets Management (Singapore), and Everventures.
According to Evergreen Group Holdings' website, the company was established in the 1990s and now has a presence in Singapore, Japan, South Korea, Hong Kong, Cambodia, Vietnam and Malaysia.
It started out as a timber company and is now involved in finance, automotive, real estate and lifestyle industries.
Other than Yong, the police said they had arrested another 37-year-old man from the company's management in relation to the investigation.
Continue reading...