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Singapore Law Watch
30-06-2025
- Business
- Singapore Law Watch
Super Rich In Korea's David Yong, accused of multiple offences, allowed to leave Singapore in July
Super Rich In Korea's David Yong, accused of multiple offences, allowed to leave Singapore in July Source: Straits Times Article Date: 29 Jun 2025 Author: Shaffiq Alkhatib The 38-year-old Singaporean, whose full name is Yong Khung Lin, is the chief executive of a group of companies collectively known as Evergreen Group Holdings, and was charged in 2024 with four counts of falsification of accounts. Businessman David Yong, who was featured in the Netflix series Super Rich In Korea and accused of multiple offences, has been granted permission to leave Singapore for business trips to South Korea and Malaysia. On June 27, a district court allowed him to travel to Seoul from July 4 to 11, and Kuala Lumpur from July 14 to 21. His current bail of $1 million was also increased by another $500,000. The 38-year-old Singaporean, whose full name is Yong Khung Lin, is the chief executive of a group of companies collectively known as Evergreen Group Holdings. He was charged in 2024 with four counts of falsification of accounts. On June 3, he was handed his fifth charge involving more than 1,000 promissory notes made by a company linked to him. In his fourth travel application on June 27, Yong, who is represented by lawyers Navin Naidu, Philip Teh and Aaron Lim of Dentons Rodyk & Davidson, sought permission to attend to 'urgent matters' for his businesses overseas, including securing new office premises. In earlier proceedings, the court heard that he had a Cambodian passport under the name 'Duong Dara', which he claimed to have surrendered to Cambodian authorities in June 2024. In March, District Judge Brenda Tan rejected his application to leave Singapore, as there was no official confirmation on the whereabouts of his Cambodian passport. On June 27, Mr Naidu told the court that while the whereabouts of Yong's Cambodian passport might not have been completely resolved in the past, the issue is now 'conclusively resolved'. Mr Naidu also submitted that Yong has no interest in applying for any other foreign passports. The lawyers also tendered supporting documents showing that their client was physically required to attend to his business matters in South Korea and Malaysia. Judge Tan then granted Yong permission to leave Singapore in July under multiple conditions. Among other things, he must furnish the complete travel itinerary before his departure to the investigation officer (IO) or an officer acting under the latter's direction. He must also surrender his passport to the IO or an officer acting under the latter's direction within 24 hours of his return on July 21. Yong was arrested on Aug 1, 2024, just three months after he appeared in Super Rich In Korea. He faced his first charge two days later over allegations he abetted a woman identified as Ms Jolene Low Mong Han to falsify papers belonging to Evergreen GH – an entity under Evergreen Group Holdings. According to court documents, Yong allegedly instigated Ms Low on or around Dec 16, 2021, to falsify a tax invoice dated Sept 1, 2021, from Evergreen Assets Management for purported bulk sales of household fittings and appliances to a person named Mr Roy Teo. Yong was later handed his second and third charges in relation to a promissory note arrangement involving Evergreen Group Holdings. They relate to events on or around Dec 16, 2021. Yong is said to have instigated Ms Low to falsify two tax invoices from Evergreen Assets Management for purported sales of furniture to two separate entities. He appeared again in court on Aug 15, 2024, over allegations that he falsified papers belonging to Evergreen GH, formerly known as Evergreen Assets Management. Yong was handed his fifth charge earlier in June. In his latest charge, he is accused of consenting to the offering of promissory notes by Evergreen GRP Holdings between July 2023 and July 2024 that did not comply with requirements under the Securities and Futures Act (SFA). According to the Singapore Legal Advice website, a promissory note is a written and signed unconditional promise made by a borrower to pay a certain sum of money to a specified party. This party may be a person or company. Such notes are considered contracts and are legally enforceable. In a statement on June 3, the police said more than $61 million was raised from the issuance of over 1,000 promissory notes that promised an annual interest of 10 per cent. 'Under the SFA, any offer of securities must be made in or accompanied by a prospectus that is lodged with and registered by the Monetary Authority of Singapore, unless an exemption applies,' a police spokesperson said. 'The prospectus must contain all the information that investors and their advisers would reasonably require to make an informed investment decision. As such, members of the public are advised to exercise caution when dealing with such offers without a prospectus.' Yong's pre-trial conference will take place on July 18. Shaffiq Alkhatib is The Straits Times' court correspondent, covering mainly criminal cases heard at the State Courts. Source: The Straits Times © SPH Media Limited. Permission required for reproduction. Print
Malay Mail
29-06-2025
- Business
- Malay Mail
Singapore court lets Netflix star David Yong travel to Malaysia, South Korea in July as bail hits S$1.5m
SINGAPORE, June 29 — David Yong, the Singaporean entrepreneur who gained fame on Netflix's Super Rich in South Korea, has been granted court approval to travel to Malaysia and South Korea for urgent business matters despite facing five criminal charges in Singapore. According to The Straits Times, a district court on Friday approved his application to travel to Seoul from July 4 to 11, and Kuala Lumpur from July 14 to 21. As part of the conditions, Yong must submit his full travel itinerary to the investigating officer before departure and surrender his passport within 24 hours of his return. Yong, 38, is the chief executive of Evergreen Group Holdings. He is currently out on bail after being charged with multiple offences involving falsification of accounts and breaching securities laws. His bail amount was raised by S$500,000 (RM1.65 million) to a total of S$1.5 million. His legal team from Dentons Rodyk & Davidson said in court that Yong needed to attend to 'urgent matters' abroad, including securing new office premises. Lawyer Navin Naidu told the court the issue surrounding a Cambodian passport in Yong's possession — issued under the name 'Duong Dara' — had been 'conclusively resolved'. Yong had previously claimed to have surrendered the document to Cambodian authorities. This was Yong's fourth attempt to seek permission to travel. A previous application in March was rejected after the court found the status of his Cambodian passport unclear. Yong was arrested on August 1, 2024, just months after appearing in the Netflix reality series. He was charged two days later with abetting Jolene Low Mong Han to falsify a tax invoice related to Evergreen Assets Management, a company under his group. Three further charges involving tax invoices and promissory notes followed in August last year. The latest, filed on June 3, accuses Yong of consenting to the offering of more than 1,000 promissory notes between July 2023 and July 2024 without meeting the disclosure requirements under Singapore's Securities and Futures Act (SFA). According to police, over S$61 million was raised through the notes, which promised a 10 per cent annual return. 'Under the SFA, any offer of securities must be made in or accompanied by a prospectus... unless an exemption applies,' police said in a June 3 statement. 'Members of the public are advised to exercise caution when dealing with such offers without a prospectus.' Yong's pre-trial conference is scheduled for July 18.
Straits Times
28-06-2025
- Business
- Straits Times
Super Rich In Korea's David Yong, accused of multiple offences, allowed to leave Singapore in July
On June 27, a district court allowed him to travel to Seoul from July 4 to 11, and Kuala Lumpur from July 14 to 21. PHOTO: ST FILE Super Rich In Korea's David Yong, accused of multiple offences, allowed to leave Singapore in July SINGAPORE – Businessman David Yong, who was featured in the Netflix series Super Rich In Korea and accused of multiple offences, has been granted permission to leave Singapore for business trips to South Korea and Malaysia. On June 27 , a district court allowed him to travel to Seoul from July 4 to 11, and Kuala Lumpur from July 14 to 21. His current bail of $1 million was also increased by another $500,000. The 38-year-old Singaporean, whose full name is Yong Khung Lin, is chief executive of a group of companies collectively known as Evergreen Group Holdings. He was charged in 2024 with four counts of falsification of accounts. On June 3, he was handed his fifth charge involving more than 1,000 promissory notes made by a company linked to him. In his fourth travel application on June 27, Yong, who is represented by lawyers Navin Naidu, Philip Teh and Aaron Lim of Dentons Rodyk & Davidson, sought permission to attend to 'urgent matters' for his businesses overseas including securing new office premises. In earlier proceedings, the court heard that he had a Cambodian passport under the name 'Duong Dara' that he claimed to have surrendered to the Cambodian authorities in June 2024. In March, District Judge Brenda Tan rejected his application to leave Singapore, as there was no official confirmation on the whereabouts of his Cambodian passport. On June 27, Mr Naidu told the court that the whereabouts of Yong's Cambodian passport might have not been completely resolved in the past, but that the issue is now ' conclusively resolved '. Mr Naidu also submitted that Yong has no interest in applying for any other foreign passports. The lawyers also tendered supporting documents showing that their client was physically required to attend to his business matters in South Korea and Malaysia. Judge Tan then granted Yong's permission to leave Singapore in July under multiple conditions. Among other things, he must furnish the complete travel itinerary before his departure to the investigation officer (IO) or an officer acting under the latter's direction. He must also surrender his passport to the IO or an officer acting under the latter's direction within 24 hours of his return on July 21. Yong was arrested on Aug 1, 2024, just three months after he appeared in Super Rich In Korea. He faced his first charge two days later over allegations he abetted a woman identified as Jolene Low Mong Han to falsify papers belonging to Evergreen GH – an entity under Evergreen Group Holdings. According to court documents, Yong allegedly instigated Ms Low on or around Dec 16, 2021, to falsify a tax invoice dated Sept 1, 2021, from Evergreen Assets Management for purported bulk sales of household fittings and appliances to a person named Roy Teo. Yong was later handed his second and third charges in relation to a promissory note arrangement involving Evergreen Group Holdings. They relate to events on or around Dec 16, 2021. Yong is said to have instigated Ms Low to falsify two tax invoices from Evergreen Assets Management for purported sales of furniture to two separate entities. He appeared again in court on Aug 15, 2024, over allegations that he falsified papers belonging to Evergreen GH, formerly known as Evergreen Assets Management. Yong was handed his fifth charge earlier in June. In his latest charge, Yong is accused of consenting to the offering of promissory notes by Evergreen GRP Holdings (EGR) between July 2023 and July 2024 that did not comply with requirements under the Securities and Futures Act (SFA). According to the Singapore Legal Advice website, a promissory note is a written and signed unconditional promise made by a borrower to pay a certain sum of money to a specified party. This party may be a person or company. Such notes are considered contracts and are legally enforceable. In a statement on June 3, the police said more than $61 million was raised from the issuance of over 1,000 promissory notes that promised an annual interest of 10 per cent. A police spokesperson added: 'Under the SFA, any offer of securities must be made in or accompanied by a prospectus that is lodged with and registered by the Monetary Authority of Singapore, unless an exemption applies. 'The prospectus must contain all the information that investors and their advisers would reasonably require to make an informed investment decision. As such, members of the public are advised to exercise caution when dealing with such offers without a prospectus.' Yong's pre-trial conference will take place on July 18. Shaffiq Alkhatib is The Straits Times' court correspondent, covering mainly criminal cases heard at the State Courts. Join ST's WhatsApp Channel and get the latest news and must-reads.
Singapore Law Watch
04-06-2025
- Business
- Singapore Law Watch
Super Rich In Korea's David Yong given additional charge linked to over 1,000 promissory notes
Super Rich In Korea's David Yong given additional charge linked to over 1,000 promissory notes Source: Straits Times Article Date: 04 Jun 2025 Author: Shaffiq Alkhatib Businessman David Yong is the chief executive of a group of companies collectively known as Evergreen Group Holdings. Businessman David Yong, who was featured in Netflix series Super Rich In Korea, was handed his fifth charge on June 3, involving more than 1,000 promissory notes made by a company linked to him. The 38-year-old Singaporean, whose full name is Yong Khung Lin, is chief executive of a group of companies collectively known as Evergreen Group Holdings. He was charged in 2024 with four counts of falsification of accounts. In his latest charge, Yong is accused of consenting to the offering of promissory notes by Evergreen GRP Holdings (EGR) between July 2023 and July 2024 that did not comply with requirements under the Securities and Futures Act (SFA). According to the Singapore Legal Advice website, a promissory note is a written and signed unconditional promise made by a borrower to pay a certain sum of money to a specified party. This party may be a person or company. Such notes are considered contracts and are legally enforceable. In a statement on June 3, the police said more than $61 million was raised from the issuance of over 1,000 promissory notes that promised an annual interest of 10 per cent. A police spokesperson added: 'Under the SFA, any offer of securities must be made in or accompanied by a prospectus that is lodged with and registered by the Monetary Authority of Singapore, unless an exemption applies. 'The prospectus must contain all the information that investors and their advisers would reasonably require to make an informed investment decision. As such, members of the public are advised to exercise caution when dealing with such offers without a prospectus.' Yong was arrested on Aug 1, 2024, just three months after he appeared in Super Rich In Korea. He faced his first charge two days later over allegations he abetted a woman identified as Jolene Low Mong Han to falsify papers belonging to Evergreen GH – an entity under Evergreen Group Holdings. According to court documents, Yong allegedly instigated Ms Low on or around Dec 16, 2021, to falsify a tax invoice dated Sept 1, 2021, from Evergreen Assets Management for purported bulk sales of household fittings and appliances to a person named Roy Teo. Yong was later handed his second and third charges in relation to a promissory note arrangement involving Evergreen Group Holdings. They relate to events on or around Dec 16, 2021. Yong is said to have instigated Ms Low to falsify two tax invoices from Evergreen Assets Management for purported sales of furniture to two separate entities. He appeared again in court on Aug 15, 2024, over allegations that he falsified papers belonging to Evergreen GH, formerly known as Evergreen Assets Management. Yong's pre-trial conference will take place on June 5. Shaffiq Alkhatib is The Straits Times' court correspondent, covering mainly criminal cases heard at the State Courts. Source: The Straits Times © SPH Media Limited. Permission required for reproduction. Print
Yahoo
03-06-2025
- Business
- Yahoo
Singapore's ‘Super Rich In Korea' star David Yong hit with fifth charge over S$61m promissory note scheme
SINGAPORE, June 3 — Businessman David Yong, known for his appearance in Netflix's Super Rich In Korea, was handed a fifth charge involving more than 1,000 promissory notes linked to his company, Evergreen GRP Holdings (EGR). The 38-year-old Singaporean, whose full name is Yong Khung Lin, is the CEO of Evergreen Group Holdings and had previously faced four charges related to account falsification, according to a report published in The Straits Times today. His latest charge accuses him of consenting to the issuance of promissory notes between July 2023 and July 2024 that violated the Securities and Futures Act (SFA). According to the police, over S$61 million (RM201 million) was raised through more than 1,000 notes promising a 10 per cent annual interest, without lodging a required prospectus with the Monetary Authority of Singapore. A police spokesperson warned the public to be cautious of securities offers made without a registered prospectus, which must include sufficient information for investors to make informed decisions. Yong was first arrested on August 1, 2024, three months after appearing on the Netflix show. His initial charge, brought two days later, involved allegedly abetting Jolene Low Mong Han to falsify a tax invoice dated September 1, 2021, for a purported bulk sale of household items. Yong was subsequently charged in connection with two more falsified invoices dated December 16, 2021, related to the sale of furniture to separate entities under Evergreen Assets Management. On August 15, 2024, he faced a fourth charge, also for allegedly falsifying documents belonging to Evergreen GH. Yong's pre-trial conference is scheduled for June 5.
