10

60

General

Father of iKON's B.I detained and under investigation for embezzlement and lying about company matters

AKP STAFF
Posted by jennywill Monday, November 10, 2014
iKON, B.I
According to Korean media reports, the father of iKON's B.I is currently being detained and investigated for allegedly spreading false information about his company and embezzling money. 


According to the Southern Seoul Distribution Prosecutor's Stock Crime Joint Investigation Team, B.I's father Kim Jung Joo has been detained for breaking the Capital Market Act. He and an accomplice are being charged with deceiving investors with false company statements to raise 18,100,000,000 KRW (approximately $17 million) and embezzling 2,390,000,000 KRW (approximately $2.2 million) of company funds. 


SEE ALSO: K-netizens unconvinced by the latest claims about Kim Soo Hyun's past relationships, 'only proof that he was two-timing'


Kim Jung Joo is the CEO of Seunghwa FreeTech, and while he was obtaining the shares to take over the company in February, he made it appear to investors as if the money he was receiving through stock-collateral loans was actually his own private capital. Through this false information, he raised 18,100,000,000 KRW from June to August, and embezzled 2,390,000,000 KRW, 10.7% of company funds.

  1. iKON
  2. B.I
0 204,274 Share 14% Upvoted

allkpop in your Inbox

THE TOP 10 STORIES DELIVERED DAILY
misc.
Apink, Park Bo Gum, Jun (Lee Jun Young)
Kim Sae Ron, Kim Soo Hyun
misc.
NewJeans
Kim Sa Rang
Close Your Eyes
BLACKPINK, Jennie
NewJeans
aespa, Suho, Chanyeol, Hearts2Hearts, WayV, NCT WISH, NCT 127, NCT Dream, nævis, Red Velvet, RIIZE, SHINee, Key, Minho, SMTR25, Super Junior, TVXQ
Red Velvet, Wendy
BLACKPINK, Lisa
NewJeans
Kim Sae Ron, Kim Soo Hyun
STAYC
New Message

SEND