Hwang Jung-eum, a well-known actress with a past in the music group Sugar, stands accused of misappropriating nearly 4.3 billion won from her company's coffers. As a consequence of these actions, she now confronts the possibility of spending three years behind bars, as recommended by the prosecution.
The legal proceedings reached a pivotal moment on the 21st, when it was disclosed that the Jeju District Prosecutors' Office had formally suggested a three-year jail term during the concluding trial session. This session was held under the auspices of the Jeju District Court's Criminal Division 2, presided over by Judge Lim Jae-nam. The charge, specifically a violation of the Act on the Aggravated Punishment of Specific Economic Crimes, pertains to embezzlement.
The accusations detail how Hwang allegedly diverted about 4.34 billion won from her company, including an estimated 700 million won that Hunminjeongeum Entertainment had borrowed. She purportedly invested this capital in cryptocurrency markets, masked as advance payments, beginning in the early months of 2022.
Further reports unravel that Hwang allocated roughly 4.2 billion won of the misappropriated funds into various cryptocurrency transactions. Meanwhile, the residual money was directed towards settling property and local taxes, among other financial obligations.
The company at the heart of the controversy is a family-run entity, with Hwang as its sole shareholder. Interestingly, she is also the exclusive artist represented by this firm, highlighting the intertwined nature of her personal and professional endeavors.
Hwang and her legal team have acknowledged the truth in the charges against her, and it has been noted that she repaid the advance payments received from Hunminjeongeum Entertainment by the 5th of June. These repayment efforts were substantiated by the submission of relevant documentation to the Jeju District Court.
In a bid to temper the judicial outcome, Hwang's defense has urged the court for leniency. Their argument centers on the notion that Hwang's investments were made with the aspiration of expanding her business, albeit clouded by a lack of understanding of proper accounting practices and procedural norms. They emphasize that since there are no other affected parties and the funds have been fully restored, a more considerate judgment is warranted.
The decisive sentencing for Hwang Jung-eum is slated to occur at 10 a.m. on the 25th of the upcoming month, where the court's final decision will be unveiled.