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Posted by haydn-an AKP STAFF 22 days ago

Cho PD found guilty for investment fraud

AKP STAFF

Recently, rapper and producer Cho PD has been found guilty by the court. He was sentenced to probation by the Supreme Court on charges of fraud by inflating investment costs. Previously, Cho PD denied these claims but was found guilty.

According to legal circles on October 9, The Supreme Court's first division upheld the original ruling that sentenced singer and producer Cho PD to three-year probation and a suspended sentence of two years in prison. Meaning if he violates the probation within three years, he will have to serve two years in prison.

Back in 2015, Cho PD signed a contract transferring the assets and artists of his agency, Stardom Entertainment, to another agency only identified as 'A.' Cho PD claimed he invested 1.2 billion KRW (~1.1 million USD) in the company and received that amount from agency A. Cho PD also claimed he did not profit from the artists under Stardom Entertainment. However, Cho PD hid the fact he had profited 270 million KRW (238,000 USD) and was sued for fraud.

Both the first and second trials found Cho PD guilty, and the Supreme Court finalized it on October 9th.

  1. Cho PD
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Gabishin19 pts 22 days ago 1
22 days ago

Isn't he the one that produced Topp Dogg?

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Noel
1 hour ago   0   87
Red Velvet, Joy
7 days ago   224   180,004

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