Credit: Yonhap News
Hwang Jung Eum was sentenced to two years in prison, suspended for four years of probation, after being found guilty of embezzling 4.34 billion won ($3.2 million) from her own company. She was charged with violating the Act on the Aggravated Punishment, etc., of Specific Economic Crimes. The verdict was delivered at the Jeju District Court on September 25th.
Hwang was accused of transferring the funds from Hunminjeongeum Entertainment, a family corporation in which she is the sole shareholder, to her personal accounts on 13 separate occasions in 2022. The funds, disguised as short-term loans, were then reportedly used for personal cryptocurrency investments.
Hwang Jung Eum’s legal team admitted to all charges. They stated that the full amount had been repaid to the company in May and June of this year after she sold off private assets. Hwang issued an apology through her agency, explaining her actions were not malicious.
“I deeply regret causing controversy due to a lack of proper tax and accounting knowledge as the owner of a one-person corporation and not a professional manager,” she said.
While the court noted that “the crime was not a light one,” the judge explained that the suspended sentence (two years in prison, suspended for four years) was given because she had repaid the full amount and was a first-time offender.
Hwang Jung Eum, a former member of the girl group Sugar, reportedly cried in court after the sentencing and bowed her head, saying, “I apologize for causing concern.”
Hwang Jung Eum Could Face 3 Years Behind Bars as Prosecutors Call for Jail Sentence
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