Once a shining star of the musical group Sugar, Hwang Jung-eum has found herself at the center of a legal storm, accused of misusing approximately 4.3 billion won from her company’s coffers. The gravity of the situation is underscored by the prosecution's call for a sentence of three years behind bars.
As disclosed by legal insiders on the 21st, the Jeju District Prosecutors' Office has formally requested a 3-year prison term for Hwang during the concluding phase of her trial. This proceeding took place under the watchful eye of Presiding Judge Lim Jae-nam at the Jeju District Court's Criminal Division 2, focusing on her breach of the Act on the Aggravated Punishment of Specific Economic Crimes, specifically the charge of embezzlement.
The allegations suggest that Hwang unlawfully diverted approximately 4.34 billion won of company resources, which included around 700 million won sourced from loans obtained by Hunminjeongeum Entertainment. These funds were purportedly funneled into cryptocurrency investments, masquerading as advance payments, during the early months of 2022.
Reports indicate that a significant portion of the misappropriated sum, roughly 4.2 billion won, was channeled into the volatile world of cryptocurrency. The remainder of the funds was allegedly allocated to settle property and local tax liabilities, among other financial obligations.
The enterprise in question is a family-run establishment where Hwang is the sole stakeholder, possessing complete ownership. She is also the exclusive talent represented under this management umbrella.
Representatives for Hwang have openly acknowledged the veracity of the accusations, affirming that the funds extracted as advance payments from Hunminjeongeum Entertainment were subsequently reinstated by June 5. Relevant documentation has been submitted to the Jeju District Court to corroborate this restitution.
In a bid to mitigate the severity of the impending verdict, Hwang’s legal team has appealed for clemency, articulating, "The defendant embarked on these investments with the intention of expanding her business. Her lack of financial acumen and procedural insight led her to believe that restitution would suffice in addressing the matter, inadvertently resulting in the crime. With no additional victims and full repayment achieved, we humbly request leniency."
The final chapter in Hwang's legal saga is set to unfold at a sentencing hearing scheduled for 10 a.m. on the 25th of the forthcoming month.