Hwang Jung Eum Admits To Embezzling Funds From Company To Invest In Cryptocurrency, Explains What Happened
After various media outlets reported that the first trial for Hwang Jung Eum’s case of embezzlement was held, the actress has issued a statement via her agency!
On May 15, the 2nd Criminal Division of the Jeju District Court held the first trial for Hwang Jung Eum on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement).
According to the indictment, around early 2022, Hwang received 700 million won [$501,578] from her agency—which had taken out a loan—under the pretext of temporary payments and invested the money in cryptocurrency. She was indicted without detention for allegedly embezzling a total of approximately 4.34 billion won [$3,081,124] by December 2022.
It was confirmed that the victimized agency is a family-run company in which Hwang Jung Eum owns 100% of the shares. Of the embezzled amount, about 4.2 billion won was reportedly invested in cryptocurrency.
Below is Hwang Jung Eum’s full official statement and apology regarding the incident:
Hello, this is Hwang Jung Eum.
First, I sincerely apologize for causing concern to many people with this shameful matter.
I established and operated an entertainment agency for my entertainment activities. This entertainment agency is a company in which I hold 100% of the shares, and no other entertainers have ever belonged to it, and all revenue came from my activities. I had the desire to grow the above company, and around 2021, I was recommended by someone around me to try increasing the company funds through coin investment, and I ended up jumping into coin investment, which I did not know well. Although it was the company’s funds, because it was revenue earned from my activities, I believe I made an immature decision.
Although I suffered losses from coin investment, I think it is at least fortunate that I hold 100% of the shares in the company, there were no other affiliated entertainers, and besides the bank which has secured collateral, there were no other creditors, so no third party was harmed.
To correct the wrong transactional relationship with the above company, I am currently with another agency and am cleanly organizing the transactional relationship with the above company. I disposed of personal assets and repaid a significant portion of the funds that had been withdrawn from the company in the form of advance payment, and I am in the process of proceeding with the procedure to clear some unpaid amounts.
Once again, I sincerely apologize and will fulfill the necessary responsibility.
Source: (A)
