Hwang Jung Eum, who is currently on trial for embezzling company funds, has reportedly repaid around two-thirds of the total amount in question.
On May 19th, her legal representative told YTN Star that the remaining amount to be repaid is a little over 1 billion won ($718,000), and we plan to settle it as quickly as possible.
He added, “Most of the creditors are banks, and since the properties involved are largely tied to collateral, there shouldn’t be significant issues with repayment. We’re working to resolve everything before the next hearing.”
Kim also emphasized that Hwang will comply with the court’s ruling, stating, “She intends to take full responsibility for repaying the amount regardless of the legal outcome regarding the embezzlement charge.”
Hwang was indicted without detention for allegedly embezzling approximately 4.34 billion won (about $3.1 million) from her agency, of which she owns 100% of the shares. She is accused of taking 700 million won in company funds as an advance payment and investing it in cryptocurrency. Reports indicate that around 4.2 billion won ($3 million) of the total embezzled amount was used for crypto investments.
During her first hearing, Hwang admitted to all charges. Her legal team explained that efforts to repay the losses are already underway. Hwang said in a previous statement that she believed the company’s earnings were the result of her work and that she had invested in cryptocurrency intending to grow the company, although she now admits it was a poor decision.
The court is scheduled to reconvene in August to assess the repayment progress. If repayment is completed by then, prosecutors are expected to present their sentencing recommendation immediately.
Due to the controversy, the production team deleted all of Hwang Jung Eum’s remarks from the final episode of Because I Am Solo, and instead increased Shin Dong Yeop and Park Eun Hye’s screen time more than usual.
>> Hwang Jung Eum on Trial for Using $3.1 Million Company Funds for Cryptocurrency Investment
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