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Posted by emmamadison2410,363 pts Monday, April 15, 2019

New details reveal Seungri embezzled money through club Burning Sun's rent

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An arrest warrant for Seungri is inevitable.

According to a report by the Intelligence Crime Investigation Department of the Seoul Metropolitan Police Agency on the 11th, they suspect that the former Big Bang member facilitated his embezzlement scheme through Burning Sun rents.

Junwon Industries owns Burning Sun Entertainment, that manages club Burning Sun, a club that Seungri exclusively promoted as being his own. Junwon Industries also owns Le Meridien Hotel, the hotel where club Burning Sun was located. As part of its revenues, Junwon Industries charged club Burning Sun rents in the amount of 16.66 million KRW (~$14,000) per month but since the end of last year the monthly rent charge has increased over 6 times the original value.

Police have confirmed that Burning Sun paid over 100 million KRW (~$88,000) in monthly rent to Junwon Industries increasing suspicions of the possibility of embezzlement. Over a span of a year, as a result of the increased rents, police believe Junwon Industries and Seungri embezzled approximately 600 million KRW (~$570,000).

Moreover, police have discovered that approximately 30 million KRW (~$27,000) was paid as a salary to Seungri's manager each month. The manager was an employee of YG Entertainment but he received a salary from Burning Sun funds. Police suspect this was another case of embezzlement and if confirmed, another count of embezzlement against Seungri will be added.

YG Entertainment previously released an official statement denying the allegations saying, "that they weren't aware of the additional pay and the manager in question resigned from the label. "

Additional source: Sports Kyunghyang

  1. Seungri
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MidoriAkiko236 pts Monday, April 15, 2019 5
Monday, April 15, 2019

Jeez, I've never liked Seungri, and I always got less than stellar vibes from him, but hot damn, I've gotta say he has outdone any expectations I previously had for him.

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DTRT7,644 pts Monday, April 15, 2019 1
Monday, April 15, 2019

... and that's how money laundering works.

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