Ra Deok-yeon Also Approached Solbi... "Proposed Investment While Buying Artwork"

Met for the First Time on 2021 Golf Variety Show
"It Means to Reinvest the Money from the Painting Sale"

The CEO of singer and painter Solbi's (Kwon Ji-an) agency revealed that they were offered an investment proposal by the key figures involved in the Soci?t? G?n?rale Securities (SG)-related stock price crash incident but declined it.

Solbi's agency, MAP Crew, stated on the 2nd, "The group involved in the stock price crash incident proposed an investment to our CEO, but the investment details were unclear, so we refused."

[Image source=Yonhap News]

According to the agency, around 2021, Solbi appeared on a golf variety show and became acquainted with a professional golfer.

Later, representatives from the investment advisory firm led by Ra Deok-yeon, who is suspected of being involved in the recent SG-related stock price crash incident, visited an exhibition organized by the agency and purchased works by other artists worth about 30 million KRW, while proposing an investment to the agency's CEO. The CEO speculated, "It seemed like they wanted us to reinvest the money earned from selling the paintings back to them."

A MAP Crew official said, "Neither our company CEO nor Solbi has a stock account," adding, "We have no interest in money earned without hard work, so we declined."

It is known that Ra and other members of the stock manipulation group also encouraged investments from other entertainment industry figures such as broadcaster Noh Hong-chul. Chairman Ra served as an inside director for various entertainment businesses, including the cable channel Ssum and the operator of a golf practice range in Gangnam, creating connections with investors. It is reported that they mobilized professional golfers and sales teams to attract a large number of investors.

In particular, singer and actor Lim Chang-jung and singer Park Hye-kyung claim to be victims, stating that they entrusted money to the group and subsequently lost it.

Lim Chang-jung was involved in the stock manipulation suspicion case. He sold part of his agency shares for 5 billion KRW and reinvested 3 billion KRW of that amount into the stock manipulation group. Lim claims damages of 6 billion KRW, but videos showing his attendance at meetings of the suspected stock manipulation group have been fully disclosed, raising further suspicions. Singer Park Hye-kyung entrusted signing fees and event fees during the process of signing an exclusive contract with Ssum.

The joint investigation team of the Seoul Southern District Prosecutors' Office and the Financial Services Commission is investigating key figures including Chairman Ra on charges of violating the Capital Markets Act and other offenses related to this case.

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