Credit: Sports Gyunghyang
Famous Korean actor Lee Seung Gi is finding himself in hot water after a slew of news was released regarding the stock manipulation case involving his father-in-law, Im Young Gyu.
Lee Seung Gi is under fire and facing criticism not only because of the scandal but mainly for his statement released alongside his entertainment company BIG PLANET MADE Entertainment. After the news was shortly revealed that the Supreme Court retracted their previous verdict and found Lee Seung Gi’s father-in-law and his accomplices indeed guilty of high stock price manipulation, Lee Seung Gi stated the following:
Although it seems like another run-of-the-mill statement requesting respect and privacy of the celebrity in question, this time around netizens have problems not only the timing but the power abuse of Lee Seung Gi’s celebrity status.
Netizens stated, “What about the victims of the stock manipulation? Is there no apology for them?” and “So we can’t talk about the family’s wrongdoings because they are now related to Lee Seung Gi?” as well as “The first article came out about 2 hours ago and they really whipped up this statement in a couple of hours lol they were very prepared to protect themselves.”
According to legal reports on June 16th, Lee Seung Gi’s father-in-law and his three accomplices were indicted for alleged stock price manipulation under the Capital Markets Act and were caught after allegedly garnering about 2.3 billion KRW by artificially inflating their public company’s stocks for two years between the time of November 2014 to February 2016.
Credit: T-Story
The group appealed at the appellate court and was found not guilty until as of yesterday when the Supreme Court reversed and remanded the case back to the appellate courthouse.
The Court commented, “Appellate court erroneously held that the defendants were not guilty of breaking the Capital Markets Act without considering the totality of circumstances of how they acquired the funds. The falsely recorded stocks roughly amount to 1.56% of total stocks. This is over the filing threshold of 1%.”
Lee Seung Gi’s Name Dragged into Ex-Father-in-Law Lim Young Gyu’s Financial Scandal
