Previously a member of the musical group Sugar, actress Hwang Jung-eum is now facing legal troubles over the misuse of approximately 4.3 billion won from corporate funds, with a potential sentence of three years looming over her.
As reported by legal insiders on the 21st, the Jeju District Prosecutors' Office has formally recommended a 3-year sentence during the closing arguments of her trial. This trial took place in the Criminal Division 2 of the Jeju District Court, presided over by Judge Lim Jae-nam, addressing charges related to the Act on the Aggravated Punishment of Specific Economic Crimes, specifically embezzlement.
Hwang is accused of misappropriating around 4.34 billion won from company resources. This amount includes roughly 700 million won, sourced from funds procured by Hunminjeongeum Entertainment, which she allegedly used for cryptocurrency investments under the pretense of advance payments at the start of 2022.
Reports indicate that she invested about 4.2 billion won of the misappropriated funds into cryptocurrency markets. The residual amount was reportedly allocated to settle property and local tax obligations, as well as other expenses.
The implicated agency is a family-owned business, with Hwang as the sole shareholder and the only artist represented by the company. This implies a close personal connection to the organization.
Hwang has acknowledged all allegations against her and has reportedly returned the funds initially taken as advance payments from Hunminjeongeum Entertainment by June 5. She has also provided the Jeju District Court with documentation of the repayments.
In her defense, Hwang's legal team has appealed for a more lenient sentence, reasoning that she intended to expand the business with her investments. They argue that her lack of understanding regarding financial management and procedures led her to believe that rectifying the financial discrepancy would resolve any issues. They emphasize that there were no other parties harmed and that the full amount has been reimbursed, appealing to the court for compassion.
Hwang's sentencing is set to be conducted at 10 a.m. on the 25th of the following month. This session will determine the legal consequences of her actions.