Gang Convicted for Impersonating SM Entertainment Executive Using EXO as Bait to Embezzle Hundreds of Millions

[Asia Economy Reporter Yoo Byung-don] A group of individuals who impersonated SM Entertainment officials and pocketed hundreds of millions of won in contract fees by claiming they would have the idol group EXO perform at an event were sentenced to prison.

On the 18th, Judge Ryu Hee-hyun of the Seoul Southern District Court Criminal Division 13 sentenced Kim (39), who was indicted on charges of fraud, forgery of private documents, and use of forged private documents, to two years in prison, and Lee (45) to one year in prison.

They were tried on charges of creating a false contract in September 2017 that appeared to be signed by the actual CEO of SM Entertainment and embezzling about 280 million won from Mr. A, the CEO of a performance planning company, under the pretext of a contract fee for EXO's performance in Thailand.

Kim created a fake contract stating that the idol group EXO would perform in Bangkok, Thailand, in November 2017, and sent it to Mr. A with the corporate seal of SM Entertainment affixed. Lee impersonated a director of SM Entertainment.

The court stated the sentencing reasons for Kim, saying, "The damage amount reached 300 million won, causing financial difficulties for the victim, and only 18.5 million won of the damage was returned. The crime involved forgery and use of private documents as a means of fraud, which is a serious offense."

Regarding Lee, the court said, "He has a prior record of fraud convictions, and the fact that proper compensation has not been made is an unfavorable factor, but he has made efforts such as returning about 47 million won to Mr. A."

Meanwhile, Kim was sentenced to four months in prison with a two-year probation in August last year for fraud, and Lee also has a history of being punished twice for fraud in the past.

This content was produced with the assistance of AI translation services.