The name David Yong might not ring a bell to many – but fans of K-pop group FIFTY FIFTY (피프티 피프티) and local influencer Christinna Kuan might be shocked to learn what happened to this Singaporean billionaire. It was recently reported that David, the CEO of Evergreen Group Holdings and its entertainment company subsidiary Evergreen Entertainment, has been arrested.
David is known as one of the richest men in Singapore and has appeared on the Netflix reality show “Super Rich In Korea”. K-pop fans, especially FIFTY FIFTY fans, may also recognise him as an investor in ATTRAKT, the girl group’s label. On the other hand, fans of Christinna, a.k.a MsKuan, may know him as the man who previously signed her to his entertainment company to expand her international activities.
Recently, news outlets have reported that David was arrested and charged with falsification of accounts relating to a promissory note arrangement involving his company. He was accused of intending to defraud by instigating Jolene Low to falsify a tax invoice from an Evergreen Group subsidiary to someone named Roy Teo. He’s investigated under Section 477A of the Singaporean Penal Code, and if convicted, the businessman could get a fine, jail for up to ten years, or both.
In addition to his arrest, Evergreen Group Holdings was also placed on the Monetary Authority of Singapore Investor Alert List to warn consumers in Singapore that the company is not regulated or licensed to provide financial services. This news sparked concern amongst FIFTY FIFTY fans, who worry for the group’s future. As mentioned, Evergreen is an investor in their agency and is credited for aiding their revival and upcoming comeback.
As David is also the head of Evergreen Entertainment, Christinna’s overseas activities face some uncertainty. However, since Evergreen Entertainment only manages the influencer’s activities in China and South Korea, her local and regional activities likely remain unaffected. Evergreen Group Holdings is also co-organiser of the Waterbomb Festival in Singapore, which has assured fans that it would proceed as scheduled.
As of writing, Evergreen Entertainment has set their Instagram account to private and Christinna has also deleted her post announcing her partnership with the agency. Unfortunately, it’s hard to say what will happen to FIFTY FIFTY and Christinna at the moment – but what are your thoughts on this issue?
Sources: Koreaboo, The Star, Mothership SG
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