According to media outlet reports on June 19, the intellectual crime division of the Seoul central district police station is suspecting an amount of over 1 billion KRW (~ 851,000 USD) in embezzled funds, misappropriated by former Big Bang member Seungri and former Yuri Holdings CEO Yoo In Suk.
According to the intellectual crime division, "We've concluded that Seungri and Yoo In Suk were colluding with Taiwanese investor Madame Lin in the process of their embezzlement."
Previously, police requested arrest warrants against Seungri and Yoo In Suk for various charges, including the embezzlement of approximately 530 million KRW from club 'Burning Sun's revenues. However, during the ongoing investigation process, the intellectual crime division allegedly discovered that of a total amount of 1.8 billion KRW (~ 1.5 million USD) embezzled from 'Burning Sun's revenues since the club's opening, nearly half of that amount, 1 billion KRW, was misappropriated by Seungri and Yoo In Suk. Police are suspecting 'Burning Sun' chief executives Lee Sung Hyun and Lee Mun Ho of embezzling the other 42%.
Furthermore, police are allegedly suspecting the above members of misappropriating business funds from 'Burning Sun' even during periods of negative revenues. Police coined this suspicion as the primary reason for incorrect balance records within 'Burning Sun's system.
Meanwhile, back on May 8, police requested arrest warrants against Seungri and Yoo In Suk for a number of criminal charge suspicions; however, the prosecution dismissed the arrest warrant requests on the account that the criminal suspicions listed were questionable. Currently, police do not have plans to request additional arrest warrants against Seungri and Yoo In Suk.