The Seoul Metropolitan Police Agency conducted a search of the entertainment company One Hundred Label, led by Cha Ga Won, in connection with allegations of fraud.
On April 8, One Hundred Label confirmed that the search took place on April 3. The Financial Crimes Investigation Unit of the Seoul Metropolitan Police Agency reportedly seized documents and other materials at the company’s Gangnam office. The authorities are investigating Cha Ga Won’s alleged misconduct based on the evidence obtained.
Cha Ga Won, who serves as chairman of Piack Group and CEO of One Hundred Label, is suspected of soliciting business partnerships through his artists, receiving advance payments, and failing to execute the promised business activities. According to reports, the combined claimed damages from three separate lawsuits are approximately 30 billion KRW (about 22.8 million USD).
In recent weeks, several artists under One Hundred Label and its subsidiary Big Planet Made Entertainment have terminated their exclusive contracts, citing breaches of agreement. Notable artists include members of The Boyz, VIVIZ, Lee Mu jin, BE’O, and Lee Seung Gi.
A spokesperson for Big Planet Made stated, “We are committed to restoring stable management at the earliest opportunity and are engaged in discussions to resolve this matter amicably.”
SEE ALSO: BREAKING Mark concludes his exclusive contract with SM Entertainment, leaves NCT
SHARE
