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SM Entertainment's Lee Soo Man under fire for 'suspicious internal transactions'

AKP STAFF
Posted by Germaine-Jay Wednesday, May 29, 2019

SM Entertainment's Lee Soo Man is currently under fire for 'suspicious internal transactions.'

On May 29, reports alleged Lee Soo Man holds 100% of the stock in a ghost company 'Like Plan'. The SM Entertainment head stands accused of funneling 44% of the profits from the music label into the ghost company since 2014 and paying himself 10 billion Won ($8,367,500.00 USD) a year. 


Though 'Like Plan' went public in 2000, dividends from the company have never been paid out despite reporting profits that rival SM Entertainment.

In related news, SM Entertainment stocks have reportedly dropped by 28.01% this past year.

  1. Lee Soo Man
110 72,505 Share 62% Upvoted
 
Candy_Crush
Candy_Crush2,018 pts Wednesday, May 29, 2019 4
Wednesday, May 29, 2019

Is 2019 the year of revelations and controversies ?

Itz already too much to handle.

Please throw away all these cheap people in jail asap.

49 (+56 / -7)
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DTRT
DTRT7,192 pts Wednesday, May 29, 2019 11
Wednesday, May 29, 2019

Kpop is on fire, the bad kind of fire.

30 (+36 / -6)
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