According to Chinese broadsheet Zaobao, Yang Yin will be charged in State Court this afternoon. He is expected to face 11 criminal charges.
White-collar crime investigation agency Commercial Affairs Department has filed charges against Yang under section 477A of falsification of accounts under the Penal Code. It carries a maximum penalty of 10 years in prison.
Yang is currently under investigation by Ministry of Manpower and Immigration & Checkpoints Authority.