Korean Prosecutors Seek to Sentence South Korean Actress Hwang Jung-eum to 3 Years in Prison for Embezzling 4.2 Billion KRW in Public Funds to Invest in Cryptocurrency

BlockBeats News, August 22nd. According to Yonhap News Agency, the South Korean prosecutor sought a 3-year prison sentence for actor Hwang Jung-eum, who is accused of embezzling company funds of 4.3 billion South Korean Won (about $3.07 million) and investing in cryptocurrency.

On the 21st, the Jeju District Prosecutor's Office requested the Jeju District Court Criminal Division 2 (Presiding Judge Im Namin) during a closing argument in a public trial to sentence actor Hwang Jung-eum to 3 years in prison on charges of violating the "Specific Economic Crimes Aggravation Act Punishment and other related laws" (embezzlement).

Previously reported on June 17th, South Korean actress Hwang Jung-eum was accused of embezzling approximately 4.2 billion South Korean Won (about $3.07 million) of company funds to invest in cryptocurrency. Her agency, Y1 Entertainment, stated on June 17th that Hwang Jung-eum had repaid the full amount in two installments on May 30th and June 5th. Earlier, Hwang Jung-eum withdrew a total of 4.34 billion South Korean Won around 2022 from Model Entertainment, most of which was used for cryptocurrency investment. The case involves violations of the provisions regarding fund embezzlement in the "Specific Economic Crimes Aggravation Act," and is currently undergoing judicial proceedings.