Breaking| David Yong from Netflix series Super Rich In Korea handed 4th charge, offered $1m bail

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https://www.straitstimes.com/singap...ch-in-korea-handed-4th-charge-offered-1m-bail

 

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Businessman David Yong has been handed a fourth falsification of accounts charge, three months after he was featured in a Netflix series Super Rich In Korea.

The chief executive of Evergreen Group Holdings, whose full name is Yong Khung Lin, appeared in court via video-link on Aug 15 over allegations that he had falsified papers belonging to Evergreen GH, formerly known as Evergreen Assets Management.

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

He is said to have instigated one Thung Sai Fun to falsify several line items in Evergreen Assets Management’s financial statements for the financial year ending March 31, 2022, which resulted in a reported profit before tax of nearly $8 million.

 

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Yong was offered bail of $1 million on Aug 15.

As part of his bail conditions, he has to abide by a curfew of between 10pm and 6am, and report to an investigation officer handling the case every Monday at 10.30am.

Yong must also surrender any travel document in his possession. He also has to wear an electronic tag.

He is currently in remand at the Central Police Division. His pre-trial conference will take place on Sept 27.

Meanwhile, police are also investigating the business activities of Evergreen Group Holdings for alleged fraud.

This was after it emerged that several companies under Evergreen Group Holdings, including Evergreen Grp Holdings, Evergreen GH and Everventures, had been raising funds through the issuance of promissory notes with annual returns of 10 per cent.

The probe into Evergreen Group Holdings’ activities was prompted by concerns that investor funds were misused.

Police said the promissory notes may also have been issued in contravention of the Securities and Futures Act, which regulates activities and institutions in the securities and futures industry.

Evergreen Group Holdings chief operating officer Desmond Sim was arrested on Aug 1 in connection with the case. The 37-year-old is currently on bail.

 

[keewee0415]

So David Yong has nothing to do with that satki shipping company that is related to EVA Air?

Tiagong the shipping company paid their employees 52 months of bonus in Dec 2021 and 11 months of bonus in July 2022...

 

[lowsesbbfa]

in before fansee @qcubesg

 

[savoirex]

will he bail and run road?

 

[articland05]

aiyo ..liddat how to be kpop idol

 

[gravity_infinity]

So David Yong has nothing to do with that satki shipping company that is related to EVA Air?

Tiagong the shipping company paid their employees 52 months of bonus in Dec 2021 and 11 months of bonus in July 2022...

no relationship

 

[keewee0415]

no relationship

Any relationship to Evergreen Stationery then?

Wow, can so easily open company with same name as established brands one ah?

Why no one register company with the name Yaohan Department Stores?

 

[yperic]

 

[Acetron]

all that glitter is not gold......

 

[RinoaX]

Top 1% scare what 1mio bail! Throw it in cash at the judges face! Mai Kia.

 

[dry_county]

So serious…...

 

[menthol28]

This guy really kena pawn gao gao by gov, top 1% so must set bail @ $1m even for such a trivial case... If he can't raise bail, the whole world will know that he no $ even for top 1%
Somehow or another I believe he really stepped on someone's toes from the top echelons and now kena target. Funny how his business partner also kena arrested same case as his but the other guy totally not much news and was able to kena bailed. While this Superstar David all the spotlight on him in media

 

[the_dog]

Any relationship to Evergreen Stationery then?

Wow, can so easily open company with same name as established brands one ah?

Why no one register company with the name Yaohan Department Stores?

actually its ironic that a timber company is called Evergreen.

sounds like an oxymoron

lol

 

[dushensiao]

Diam diam live shiok life dw, want to flex and let people know. Ask him use his black card lei..

 

[OrLengJuz]

Netflix needs to give this a 2nd season. The aftermath after being Super Rich~~

 

[decodedlight]

Out on bail. Some more got cambodian passport.

99.99% sure run road !

 

[ChenHoNam]

Netflix needs to give this a 2nd season. The aftermath after being Super Rich~~

How will the hosts of that program feel now.
must be laughing out loud at this top 1%.

 

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"In reply, the prosecutor Ms Theong said what was more significant was the fact that significant funds of $63 million have been raised by Evergreen since 2019."

"Until now, the funds that can be accounted for are just a small portion, being the $7.8 million in the corporate accounts and the loan agreements that total just approximately $2.4 million," she said."

Jialat sia...$63M raised on questionable grounds. Those invested can kiss their money bye bye ??