Eminent Frog Porridge owner charged over $3.8m tax evasion, laundering landed property and Lamborghini

The owner of Eminent Frog Porridge in Geylang has been charged in court for evading almost $3.8 million in taxes and laundering the unlawful proceeds on Friday (July 3).

Buntono, a 49-year-old Singaporean, allegedly understated his trade income for assessment years between 2016 and 2024, according to court documents seen by AsiaOne.

As a result, the authorities estimate that nearly $2 million in income tax was undercharged.

He was handed 30 charges, comprising three counts of money laundering and 27 counts of tax-related offences, following a joint investigation by the Inland Revenue Authority of Singapore and the Commercial Affairs Department of the Singapore Police Force.

Additionally, Buntono is accused of deliberately concealing his eatery's liability to register for goods and service taxes (GST), resulting an additional $1.8 million of GST being undercharged.

He is also accused of possessing benefits from his alleged tax evasion in the form of cash worth over $2.4 million, a Lamborghini Aventador and a landed property at 31 Brockhampton Drive.

In Singapore, all businesses earning a taxable turnover exceeding $1 million over a 12-month period are required to register for GST.

Failure to register for GST is an offence and businesses may face penalties of 10 per cent of GST and fines of up to $10,000.

Offenders who are convicted of money laundering will face fines fine of up to $500,000, a jail term of up to 10 years, or both.

Buntono is currently out on $400,000 bail and will return to court in August. 

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dana.leong@asiaone.com