Hwang Jung-eum, known for her past association with the music group Sugar, is accused of misappropriating around 4.3 billion won from company funds. The prosecution has called for a 3-year imprisonment as a consequence of these actions.
As reported by legal experts on the 21st, the Jeju District Prosecutors' Office has made a formal request for a 3-year sentence during the concluding trial. This trial addressed her violation of the Act on the Aggravated Punishment of Specific Economic Crimes, specifically focusing on embezzlement, and was conducted at the Criminal Division 2 of the Jeju District Court, presided over by Judge Lim Jae-nam.
The charges against Hwang include the embezzlement of roughly 4.34 billion won from company funds. This includes about 700 million won from funds borrowed by Hunminjeongeum Entertainment, which she supposedly invested in cryptocurrency under the pretext of advance payments at the beginning of 2022.
It has been indicated that approximately 4.2 billion won of the embezzled money was directed towards cryptocurrency investments, while the remaining funds were allocated for property taxes, local taxes, and other expenditures.
The agency involved is a family-run business where Hwang is the sole stakeholder, possessing 100% of the shares, and she is the only artist under its management.
Hwang has acknowledged all allegations and has reportedly returned the funds obtained as advance payments from Hunminjeongeum Entertainment by June 5. She has also provided the supporting documentation to the Jeju District Court.
Her defense team has requested leniency, arguing that "the defendant's intention was to expand the company through investments. Due to a lack of understanding regarding accounting and procedural matters, she believed that repaying the funds would rectify the situation, which led to the offense. As there are no other affected parties and the full amount has been restored, we seek leniency."
The court has scheduled the sentencing for Hwang to take place at 10 a.m. on the 25th of the upcoming month.