Court documents stated that Yong, whose full name is Yong Khung Lin, was serving as director of Evergreen Assets Management at the time of the alleged offences, according to The Straits Times.
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David Yong in Netflix’s show Super Rich In Korea. Photo from his Instagram |
The firm, later renamed Evergreen GH, is said to have issued 16 loans to more than 10 parties between February 2020 and June 2023.
On March 16, Yong, 38, also faced 10 counts of falsification of accounts, with the alleged offences occurring between 2019 and 2023.
Across these charges, he is accused of conspiring with Thung Sai Fun to make multiple false entries in the accounts of Evergreen Assets Management and Evergreen GH.
Among the allegations, Yong allegedly worked with Thung in November 2019 to make a false declaration in Evergreen Assets Management’s 2019 financial statement, stating that total comprehensive income for the period was $911,203.
Yong faces a total of 17 charges, with a pre-trial conference scheduled for May 8.
He was arrested three months after appearing in Super Rich In Korea in May 2024, in which he claimed to be “Singapore’s top 1 per cent super rich,” and was charged in court two days later. The show centers around the lavish lifestyle of some individuals in South Korea, according to Channel News Asia.
That year, he faced four counts of falsification of accounts, with a fifth charge added in June 2025. The additional charge to the unauthorized issuances of promissory notes.
Police said in an earlier statement that more than $61 million had been raised through the issuance of over 1,000 promissory notes offering an annual interest rate of 10%.
In a statement to The Straits Times on March 16, the Evergreen Group said none of its firms had been charged and that Yong would contest the charges.
Its spokesperson said: “The Evergreen Group has assessed the above matter and determined that Yong continues to be suitable to carry out his duties and responsibilities with the group.
“The Evergreen Group remains confident that the matter will be addressed in due course and in accordance with due process.”
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