According to the Seoul Police, a man (Mr. Kwak) has been recently arrested over swindling an advertising company over 160 million won (approximately $147,000 USD) by falsely promising them the rights to use the likeness' of popular idol groups such as 2PM and T-ara.
In a statement from the police, Mr. Kwak began his con game in 2011 by promising the CEO of a Seoul-based online advertising firm that he would be able to secure the rights to use famous idols in his ad campaign, saying, "I'm close to the representatives of JYP Entertainment, so I'll get the rights for 2PM for you so you can develop a smartphone application". From this deal, Mr. Kwak earned a total of 50 million won (approximately $46,000 USD).
However, as the days passed with no agreement in sight, the CEO of the ad firm demanded his money back, to which Mr. Kwak replied, "2PM is too busy with their schedules, so if you can be patient and give me the money for the contract I'll get you the likeness rights for T-ara so you can begin filming right away", swindling the firm an additional 110 million won (approximately $101,000).
As could be expected, the police revealed that Mr. Kwak had never secured the rights, and instead had used the money to fund his own entertainment company.
Source: Chosun Ilbo via Nate
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