Singaporean Netflix Star David Yong Charged for S$61 Million Unlawful Securities Scheme

Singaporean businessman David Yong received a fifth charge on 3 Jun 2025 at the State Courts.

The 38-year-old CEO of Evergreen Group Holdings now faces accusations under the Securities and Futures Act 2001.

Evergreen CEO Hit with Fresh Securities and Futures Act Charge

Yong, whose full name is Yong Khung Lin, allegedly consented to offering promissory notes without proper regulatory compliance. The charge pertains to securities offerings made by Evergreen GH between July 2023 and July 2024.

Police investigations revealed that more than S$61 million (~US$45.1 million) was raised from over 1,000 promissory notes. These financial instruments promised annual interest of 10 per cent to investors.

The Securities and Futures Act requires any securities offer to include a prospectus lodged with and registered by the Monetary Authority of Singapore. The prospectus must contain comprehensive information for investors to make informed decisions.

No exemption was granted for Evergreen’s offerings.

If convicted on the latest charge, Yong faces up to two years in jail, a fine of up to S$150,000, or both. The amalgamated nature of the charge means he could receive double the punishment if found guilty.

David Yong’s Previous Charges and Court Appearances

Yong’s four earlier charges involve abetting others to falsify company documents with intent to defraud. The accusations centre on tax invoices related to furniture sales, interior design services, household fittings and appliances, plus financial statements belonging to Evergreen GH.

Each falsification charge carries a potential penalty of up to 10 years in jail, a fine, or both.

The businessman was first charged on 3 Aug 2024 and remains on S$1 million bail. He has attempted to leave Singapore three times unsuccessfully.

In March 2025, a court rejected his third application to travel abroad, deeming him a “serious flight risk”. District Judge Brenda Tan had previously rejected his second application on 19 Feb 2025.

His initial bid to travel to Japan in August 2024 was denied. The court determined his presence there was unnecessary and noted his access to substantial funds abroad increased flight risk concerns.

Police began investigating Evergreen Group Holdings following suspicions that investor funds were misused. Various companies under the Evergreen umbrella had been raising capital through promissory note issuances.

Yong is scheduled for a pre-trial conference on Thursday. He gained public attention through his appearance on Netflix’s Super Rich in Korea, where he claimed to be part of “Singapore’s top 1 per cent super rich”.

The reality show featured Yong’s four-storey villa, collection of 11 cars, and scenes of him arriving by private jet with luxury Hermès bags.

He also attempted to break into Korean pop music, releasing the song “In My Pocket” in July 2022.