"BTS Goods Business"... Former BigHit Music Team Leader Sentenced for Embezzling 600 Million Won

Using Intercepted Investment Funds to Roll Over Debt

A former employee of a famous entertainment agency was sentenced to prison for fraudulently obtaining investment funds by claiming to invest in merchandise business of the idol group BTS.

The Criminal Division 12 of Gwangju District Court (Chief Judge Park Jae-sung) announced on the 20th that Mr. A (40), who was indicted on charges of fraud (under the Act on the Aggravated Punishment of Specific Crimes), was sentenced to 2 years in prison with a 3-year probation and ordered to perform 120 hours of community service.

Fraud crime. Not related to specific expressions in the article. Yonhap News Agency

Mr. A, who previously worked as a team leader at Big Hit Music, is accused of deceiving victims at the Seoul Yongsan-gu headquarters in June last year by pretending to run a merchandise business for BTS members, and embezzling 576 million KRW in 17 installments under the pretext of investment funds.

He allegedly told victims, "BTS members will do solo activities before joining the military, and this is an investment in merchandise to be distributed to fans," and promised to repay the principal and profits if they lent money. It was revealed that Mr. A used the embezzled investment funds to cover debts.

The court explained the sentencing rationale, stating, "Although the crime of embezzling a large sum of money under the pretext of business investment using the title of a team leader at a famous entertainment company is serious, considering that he repaid more than 600 million KRW including the principal to the victims, probation is imposed."

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