Famous Korean Actress Indicted On Charges Of Embezzling Over 4 Billion Won In Company Funds To Invest In Crypto Currency And Grow The Said Company
Actress Hwang Jung Eum is under public scrutiny after standing trial for allegedly embezzling company funds from a family-owned business and investing them in cryptocurrency.
On May 15, the 2nd Criminal Division of the Jeju District Court, presided over by Chief Judge Lim Jae Nam, 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.
Hwang Jung Eum’s side admitted to the charges during the hearing. Her legal representative stated, “There is no dispute regarding the indictment,” and explained, “The defendant invested in cryptocurrency with the intention of growing the company. Since the corporation could not hold crypto assets directly, the investment was temporarily made under her personal name, which ultimately led to this incident.”
They added, “Because the company’s profits came entirely from the defendant’s personal activities, the financial gain would eventually go back to her. Some of the damage has already been repaid through selling cryptocurrency, and she plans to repay the rest by liquidating real estate assets. We ask the court to take into account the defendant’s motivations.”
Hwang’s side requested a continuation of the trial to allow time for restitution, which the court accepted.
In light of the situation, Hwang Jung Eum’s current agency, Y.ONE Entertainment, told News1, “We are currently confirming the facts.”
Hwang Jung Eum is currently a regular cast member on the variety program “Because I’m Solo”, which airs on SBS Plus and E Channel. The production team also responded to News1, stating, “We are checking the facts regarding the embezzlement case.”
As Hwang Jung Eum has admitted to the charges, there is growing attention on whether she will step down from “Because I’m Solo” in the future.
What do you think of this controversy?
Share your thoughts with us in the comment section below!
Source: (A)
