4.2 billion embezzlement Hwang Jeong-eum, bowing..Coin Investment Reflects Deeply
May 16, 2025
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On the 15th, Hwang Jung-eum said through her agency, Y1 Entertainment "I'm sorry to have caused a lot of people to worry about something embarrassing."I have established and operated an entertainment agency for my entertainment activities. This entertainment agency is a company that I have a 100% stake in, and there have never been any other celebrities other than me, and all profits come from my activities. Around 2021, I was encouraged by people around me to raise the company's funds through coin investment, and I started investing in coins I didn't know well. It was a fund in the name of the company, but I think I made an inexperienced judgment because it was a profit made from my activities.
Hwang Jung-eum then said "Although I lost money due to the coin investment, I am fortunate that I have 100% of the company's shares, no other celebrities, and no other creditors other than banks that secure collateral, so I did not cause any damage to a third party."In order to correct the wrong business relationship with the above company, I am currently putting myself in another agency and organizing the business relationship with the above company." We have repaid a large portion of the funds withdrawn from the company in the form of provisional payments by disposing of our personal assets, and are in the process of liquidating some of the unpaid payments."
Hwang Jung-eum said, `Once again, I'm sorry, and I'll do my necessary responsibilities," he bowed his head.
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Hwang Jung-eum was indicted in 2022 on charges of embezzling 4.34 billion won in funds from the agency, a family corporation in which he owns a 100% stake. Hwang Jung-eum was found to have invested 4.2 billion won in virtual currency.
On this day, Hwang Jung-eum admitted all the charges.
Hwang Jung-eum's lawyer said, `The defendant came to invest in coins with the intention of growing the company. The corporation was unable to hold the coin and temporarily did it in his name, leading to the crime in this case. "Since the profits of the agency are generated from the activities of the defendant, there are circumstances that ultimately belong to the defendant. Please take into account the fact that some of the damages were repaid by selling coins, and the rest will be repaid by selling real estate."
A second hearing on Hwang will be held in August.
jyn2011@sportschosun.com
