On Thursday ( Aug 8 ), Singaporean businessman David Yong, who starred in the Netflix series Super Rich In Korea, was charged with two additional tax-fraud related charges.
Evergreen Group Holdings, a 37-year-old chief executive officer, is accused of aiding Jolene, a person, in obtaining Evergreen GH’s false documents.
He reportedly stooped Ms. Low to prepare two income payments that Evergreen Assets Management issued in May and October of that year.
The invoices allegedly included fees for Evergreen Venture Capital’s furniture sales, as well as for Tay Ai Chern Pearlrie’s furniture sales, both.
Yong, whose legal name is Yong Khung Lin, was second accused of attempting to defraud a tax receipt from Evergreen Assets Management dated September 1, 2021 on August 3rd.
The receipt allegedly contained a Mr. Roy Teo’s claim that he had sold a lot of household goods and gadgets.
In his potential as an official of Evergreen GH, one of the businesses under Evergreen Group Holdings, he allegedly assisted the misrepresentation with the intention to mislead across the three costs.
Although his solicitor, Sunil Sudheesan from Quahe Woo &, Palmer, argued for it, he has been remanded since August 3 and has been denied parole on Thursday.
If convicted of abetting the fabrication of receipts, he faces up to 10 years ‘ prison, a great, or both per cost.
On the Netflix series that explores the lives of extremely wealthy people who have established bases in Korea, Yong had declared himself to be one of” Singapore’s top 1 % rich.”
SUSPECTED MISUSE OF INVESTORS ‘ Money
The police announced in a statement on August 3 that Evergreen Group Holdings ‘ business activities were being looked into by its Commercial Affairs Department ( CAD ).
The police said that the studies started because there were concerns about the use of shareholders ‘ funds.
Through the issuance of promissory notes that promised a 10 % annual interest rate, various Evergreen Group Holdings-affiliated businesses were generating money.
According to them, these bank notes, legal tenders where one party promises to pay a certain amount of funds to another party, may have been issued in violation of the Securities and Futures Act.
Companies under the name include Evergreen Grp Holdings, Evergreen GH- formerly known as Evergreen Assets Management ( Singapore ), and Everventures.
According to Evergreen Group Holdings ‘ site, the company was established in the 1990s and presently has a presence in Singapore, Japan, South Korea, Hong Kong, Cambodia, Vietnam and Malaysia.
It started out as a forest business and is now involved in funding, electrical, real property and life industries.
Other than Yong, the authorities said they had arrested another 37-year-old person from the bank’s management in relation to the research.