South Korean Prosecutors Seek 3-Year Prison Sentence for Actress Hwang Jung-eum Over Alleged Embezzlement of 4.2 Billion KRW in Public Funds for Cryptocurrency Investments

According to ChainCatcher, citing Yonhap News Agency, South Korean prosecutors are seeking a three-year prison sentence for actress Hwang Jung-eum, who has been indicted for allegedly embezzling 4.3 billion KRW (approximately 3.07 million USD) in company funds and investing in virtual currencies.

On the 21st, during the final sentencing hearing at the Jeju District Court’s Criminal Division 2 (presided over by Judge Im Jae-nam), the Jeju District Prosecutors’ Office requested the court to sentence the indicted actress Hwang Jung-eum to three years in prison for violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement).

Previous reports stated that on June 17, South Korean actress Hwang Jung-eum (phonetic) was indicted for allegedly embezzling approximately 4.2 billion KRW (about 3.07 million USD) in company funds to invest in virtual currencies. Her agency, Y1 Entertainment, announced on June 17 that Hwang Jung-eum had repaid the entire debt in two installments on May 30 and June 5. Earlier, around 2022, Hwang Jung-eum withdrew a total of 4.34 billion KRW from Hunminjeongeum Entertainment, most of which was used for cryptocurrency investments. The case involves violations of the embezzlement provisions under the Act on the Aggravated Punishment of Specific Economic Crimes and is currently under judicial review.