Police Suspect Seungri Embezzled Money Through Burning Sun’s Rent
On April 11, the Intellectual Crime Team of the Seoul Metropolitan Police Agency searched Junwon Industries, a major shareholder of Burning Sun, and Yuri Holdings.
Junwon Industries is a major shareholder of Burning Sun Entertainment, which managed Club Burning Sun, and was the actual owner of the business as well as the owner of Le Meridian Hotel where Club Burning Sun was located in.
Previously, Junwon Industries appropriated 16,660,000 KRW ($14,700 USD) for the monthly rent of Burning Sun but since the end of last year, the monthly rent rose by 6 times. The police have confirmed that Burning Sun paid over 100M KRW ($88,300 USD) in monthly rent to Junwon Industries and are currently investigating on the possibility of embezzlement. The police suspect Junwon Industries and Seungri to have embezzled approximately 600M KRW ($530,000 USD) in total.
Junwon Industries’ CEO Choi, Seungri and Yoo In Suk have additionally been booked for embezzlement. The embezzled amount may increase in the future.
ㅡ Police
Moreover, the police also discovered that approximately 30M KRW ($26,500 USD) was sent to Seungri’s manager each month. While the manager was an employee of YG Entertainment, the money was paid by Burning Sun. If it is confirmed that the manager received his pay from Seungri or Burning Sun, an additional embezzlement charge may be added.
In regard to the issue, YG Entertainment claimed that they paid Seungri’s manager his salary and did not know about any additional pay received by Seungri or other businesses.
Mr. G was Seungri’s manager when he was employed at YG (currently resigned) and as a result, our company paid his salary. We are irrelevant to Seungri’s personal business and did not know about any additional pay he received from his second job as auditor of Yuri Holdings or from businseses related to Seungri.
ㅡ YG Entertainment
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