"Drama Maker, Lend Me Some Money" Production Company CEO Sentenced to Prison

Seoul Central District Court / Photo by Moon Honam munonam@

[Asia Economy Reporter Seongpil Cho] The CEO of a well-known domestic drama production company was sentenced to prison in the first trial for allegedly extorting billions of won under the pretext of investment funds.

According to the legal community on the 7th, the Seoul Central District Court Criminal Division 31 (Chief Judge Seongpil Cho) sentenced Mr. A (46), who was indicted for fraud under the Act on the Aggravated Punishment of Specific Economic Crimes, to 7 years in prison. The court stated the sentencing reasons, saying, "The financial damage suffered by the victims due to the defendant's crimes is relatively large," and "Considering that some victims have not forgiven and are petitioning for severe punishment against the defendant, harsh punishment is inevitable."

Mr. A, as the CEO of the drama production company 'Barami Bunda' (The Wind Blows), is accused of deceiving victims in June 2018 by saying, "I am short of money because I have not received the production fees for the drama currently being filmed," and "If you lend me 500 million won to produce a new drama, I will repay it with 10% interest after one year by selling the rights," thereby embezzling 500 million won. It was investigated that Mr. A planned to use the borrowed money to pay off debts or for living expenses and gambling funds. It was found that from 2016 to 2018, Mr. A extorted approximately 8.95 billion won from multiple victims over more than a dozen occasions in this manner. The court acquitted Mr. A of some charges, judging that some of the money was received as investment funds rather than fraud. Nevertheless, the amount recognized as fraud and other crimes committed by Mr. A reached approximately 8.51 billion won.

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