Super Rich In Korea’s David Yong allegedly allowed company to unlawfully issue over $1m in loans

Source: Straits Times
Article Date: 17 Mar 2026
Author: Shaffiq Alkhatib

David Yong Khung Lin was also charged with 10 counts of falsification of accounts on March 16. He allegedly committed these offences between 2019 and 2023.

Businessman David Yong, who was featured in Netflix series Super Rich In Korea, was handed two moneylending-related charges on March 16 after he allegedly allowed a company to issue more than $1.1 million in loans even though it was not authorised to do so.

Court documents stated that Yong, whose full name is Yong Khung Lin, was the director of a company called Evergreen Assets Management at the time of the alleged offences.

The firm, which was later known as Evergreen GH, allegedly issued 16 loans to more than 10 parties between February 2020 and June 2023.

On March 16, Yong, 38, was also charged with 10 counts of falsification of accounts. He allegedly committed these offences between 2019 and 2023.

In all of these charges, he allegedly engaged in a conspiracy with one Thung Sai Fun to make multiple false entries to accounts belonging to Evergreen Assets Management and Evergreen GH.

Court documents did not disclose details about Thung.

Among other things, Yong is said to have worked together with Thung to commit one of the offences on or around Nov 25, 2019.

Thung then allegedly falsely stated in Evergreen Assets Management’s 2019 financial statement that its total comprehensive income for that period was $911,203.

In another instance on or around April 28, 2020, Thung allegedly falsely stated that the company’s revenue was $15,365,042 in one of its 2020 financial statements.

Yong faces 17 charges in all, and his pre-trial conference will take place on May 8.

Yong 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”. He was charged in court two days following his arrest.

He was charged with four counts of falsification of accounts that year, and was handed a fifth charge in June 2025 after being accused of consenting to the offering of promissory notes by Evergreen GRP Holdings between July 2023 and July 2024.

These notes, which are written and signed unconditional promises made by a borrower to pay a certain sum of money to a specified person or company, did not comply with requirements under the Securities and Futures Act.

The police said in an earlier statement then that more than $61 million was raised from the issuance of more than 1,000 promissory notes that promised an annual interest of 10 per cent.

In September 2025, Yong – who was a partner at Yong, Seow & Lim Legal as at April 2024 – was fined $1,000 by the Law Society of Singapore council for holding an executive appointment in a business entity. A notice published in the Government Gazette on the evening of Sept 19, 2025, said he had breached rules regulating the legal profession.

As director and chief executive of the Evergreen Group of Companies, he had flouted a requirement in the Legal Profession (Professional Conduct) Rules 2015, which states that “a legal practitioner must not accept any executive appointment in a business entity”.

In a statement to The Straits Times on March 16, the Evergreen Group said that none of the firms in it has been charged, and Yong will be contesting the charges.

Its spokesperson said: “The Evergreen Group has assessed the above matter and determined that Mr 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.”