Actress Hwang Jung Eum is facing a tough road ahead despite paying back billions of won.
On August 21, the Jeju District Court’s Criminal Division 2 held the final trial for former Sugar member and actress Hwang Jung Eum, who was charged with embezzling around 4.3 billion won (approx. $3.1 million USD) from her own company. The prosecution has officially requested a 3-year prison sentence.
According to the indictment, back in July 2022, Hwang Jung Eum borrowed 800 million won under her family agency Hunminjeongeum Entertainment, where she owned 100% of the shares.
She then reportedly transferred 700 million won into her personal account as “temporary payments” and invested the money in cryptocurrency.
From July to October that year, she is said to have funneled about 4.2 billion won of company funds into coin investments across 13 different transactions.
She also allegedly used company money to cover other personal expenses, such as around 4.44 million won for property and local taxes, and about 1 million won in stock loan interest.
Hwang Jung Eum was indicted on December 31, 2023, for violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement). At her first trial in May this year, she admitted to all charges.
When the case became public, Hwang Jung Eum explained, “This company was 100% mine, and all its income came from my work. Around 2021, someone I knew suggested investing in coins to grow the company funds. Without much knowledge, I made the immature decision to try cryptocurrency investment. Although the funds were under the company’s name, they were earnings from my activities.”
Since then, she has sold some of her assets and repaid about 3 billion won in two installments between May 30 and June 5 this year. Her agency stated, “As the owner of a one-person company without professional management, she lacked proper tax and accounting knowledge. Hwang Jung Eum is deeply reflecting on her actions and is taking all necessary steps to resolve this case.”
The final sentencing trial for Hwang Jung Eum is scheduled for September.
Source: [1]
