Overview
- Prosecutors filed 12 new counts on Mar 16 alleging a conspiracy with Thung Sai Fun to falsify Evergreen companies’ accounts from 2019 to 2023.
- Yong is accused of allowing Evergreen Assets Management, later renamed Evergreen GH, to issue 16 unlicensed loans totaling about S$1.1–S$1.2 million between 2020 and 2023.
- He pleaded not guilty, said he would contest all charges, and remains on S$1 million bail represented by WongPartnership.
- The case now comprises 17 charges in total, and a pre-trial conference is scheduled for May 8.
- Police previously said a CAD investigation into Evergreen’s promissory-note fundraising found more than $61 million raised at promised 10% interest that may have contravened securities laws.