Showbiz
‘Singapore’s top 1pc’ Netflix star and investor in K-pop group FIFTY FIFTY’s agency charged with falsifying docs for 4th time (VIDEO)
Singaporean businessman and reality star David Yong has been handed his fourth falsification of accounts charge in Singapore today. — Picture via Instagram/dynimm

KUALA LUMPUR, Aug 15 — "‘Annyeonghaseyo, David Yong-ibnida’ (Hello, I’m David Yong). I’m Singapore’s top 1 per cent super rich,” are the opening lines of his segment on the Netflix reality show Super Rich In Korea.

However, the 37-year-old Singaporean businessman and reality star, whose full name is Yong Khung Lin, has been handed his fourth falsification of accounts charge in Singapore today, according to the Straits Times.

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Yong was offered bail of S$1 million (RM3.3 million) today, with conditions including a curfew, regular reporting to an investigation officer, surrendering his travel documents, and wearing an electronic tag.

Yong, who is the chief executive of Evergreen Group Holdings, appeared in court via video-link on August 15 over allegations of falsifying papers belonging to Evergreen GH, formerly known as Evergreen Assets Management.

He is accused of instigating Thung Sai Fun to falsify line items in Evergreen Assets Management’s financial statements for the financial year ended March 31, 2022, resulting in a reported profit before tax of nearly S$8 million (RM26 million).

The businessman was arrested on August 1 and faced his first charge two days later over allegations of abetting Jolene Low Mong Han to falsify papers belonging to Evergreen GH.

Court documents state Yong instigated Low on or around December 16, 2021, to falsify a tax invoice dated September 1, 2021, from Evergreen Assets Management for purported bulk sales of household fittings and appliances to Roy Teo.

On August 8, Yong was handed his second and third charges related to a promissory note arrangement involving Evergreen Group Holdings, involving the falsification of two tax invoices dated May 13, 2021, and October 22, 2021.

The invoices were for purported sales of furniture to Evergreen Venture Capital and for sales of furniture and interior design services to Pearlrie Tay Ai Chern.

The Singaporean businessman has been involved in the K-pop scene, having debuted as a K-pop artist with the single In My Pocket in 2022 and invested 600 million won (RM1.9 million) in the K-pop entertainment agency Attrakt in August 2023, according to the Korea Herald.

As a K-pop enthusiast, Yong has posted many shots on his Instagram of him posing with K-pop stars and groups such as FIFTY FIFTY member Keena, 2NE1 member Sandara Park, Solar and Moonbyul from Mamamoo, as well as Kep1er, WayV and others.

In return for his investment, Yong acquired a 1 per cent stake in Attrakt and promised a further investment of 10 billion won to support the agency’s vision in the K-pop industry.

Attrakt, known for its girl group FIFTY FIFTY, had planned an audition programme in collaboration with JTBC, which was later halted, leading the agency to focus on recruiting members for the second generation of FIFTY FIFTY.

In March, Yong mentioned his involvement in recruiting members for the second generation of FIFTY FIFTY from South-east Asia through an audition, aiming to create a multinational group.

The police are also investigating Evergreen Group Holdings for alleged fraud, as several companies under the group raised funds through promissory notes with annual returns of 10 per cent, raising concerns about misuse of investor funds.

Evergreen Group Holdings’ chief operating officer Desmond Sim, also arrested on August 1, is currently on bail.

Yong’s pre-trial conference is scheduled for September 27, while he remains in remand at the Central Police Division in Singapore.

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