August 05, 2024, 05:41 PM
Waterbomb Singapore will proceed as planned while the Singapore police's investigations into one of its organisers, Evergreen Group Holdings, and the company's chief executive officer, David Yong, are underway.
The event is scheduled to take place at Siloso Beach in Sentosa on Aug. 24 and 25, featuring a lineup of more than 30 South Korean and local acts, including Jay Park, Jessi, and Got7's BamBam.
According to a timetable published on Waterbomb Singapore's Instagram page on Aug. 1, David Yong was scheduled to make an appearance at the event at around 5:30pm on Aug. 24.
Screenshot via Waterbomb Singapore's Instagram
Police investigating Evergreen for alleged fraud
On Aug. 3, the Singapore Police Force announced in a news release that its Commercial Affairs Department (CAD) is currently investigating the business activities of a group of companies collectively referred to as Evergreen Group Holdings for alleged fraud.
According to the police, various companies under Evergreen Group Holdings were "raising funds through the issuance of promissory notes that promised an annual interest of 10 per cent".
"Investigations arose due to the suspicion that investor monies were misused. In addition, these promissory notes may have been issued in contravention of the Securities and Futures Act," the statement read.
Yong arrested, charged
In connection with this investigation, the police have arrested Yong, as well as another 37-year-old man who was part of Evergreen Group Holdings' management, on Aug. 1, added the police.
Specifically, Yong was charged in court on Aug. 3 with the offence of falsification of accounts.
According to charge sheets seen by Mothership, Yong was accused of abetting another person to falsify a company tax invoice around Dec. 16, 2021.
The invoice, dated Sep. 1, 2021, was for a purported bulk sales of household fittings and appliances.
If convicted, Yong could be jailed for up to 10 years, fined, or both.
Statement from Viu Singapore
In response to Mothership's queries, Viu Singapore, an organiser of Waterbomb Singapore, said:
"We remain focused on creating an unforgettable experience at Waterbomb Singapore on Aug. 24 and 25, and would like to assure that the event would proceed as planned."
Viu Singapore's statement did not share whether Yong will still show up to the event on Aug. 24.
Top images via Waterbomb Singapore's & David Yong's Instagram
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