125

44

News

FIFTY FIFTY files a criminal complaint accusing ATTRAKT CEO Jun Hong Joon of using the group's profits to repay debts

AKP STAFF
Posted by Sophie-Ha Thursday, August 17, 2023

While FIFTY FIFTY's lawsuit against ATTRAKT for the provisional injunction to suspend their exclusive contract is still ongoing, the members filed a criminal complaint against CEO Jun Hong Joon.

On August 17, FIFTY FIFTY filed a criminal complaint against ATTRAKT CEO Jun Hong Joon for breach of trust with the Gangnam Police Station in Seoul through their legal representative, Barun Law Firm. The girls filed a complaint against the CEO for violating the Act on Aggravated Punishment for Specific Economic Crimes (embezzlement).

Law Firm Barun stated, "CEO Jun Hong Joon has revealed that Star Crew Entertainment (Jun Hong Joon's other company) had allocated the initial advance payment, which was originally received from the music distributor, towards undisclosed expenses. This amount was subsequently included under the investment costs for the girl group under the pretense of the said investment; consequently, the responsibility for the advance payment debt was transferred to ATTRAKT. This financial liability has come to light, with proceeds generated from FIFTY FIFTY's digital music and album sales went toward repaying this debt."

The law firm continued, "It has also been confirmed that ATTRAKT ordered FIFTY FIFTY's albums to be shipped to a distribution company, but the advance payment of 2 billion KRW (1.5 million USD) to be received was transferred to Star Crew ENT, not to ATTRAKT. The above acts are crimes that amount to a business breach of trust that cause property damage."



Barun also added, "Up until this point, the agency's stance regarding the provisional disposition of FIFTY FIFTY's application has remained remarkably consistent. The agency has consistently evaded responsibility, downplaying Fifty Fifty's request for a preliminary injunction as merely stemming from dissatisfaction with the settlement terms. As long as Jun Hong Joon, the CEO with a track record of these illicit actions, retains control over ATTRAKT and continues to exercise his authority, the members will maintain their positions of terminating their exclusive contracts with the agency."

FIFTY FIFTY's side also revealed the reason for filing this criminal complaint. The law firm explained, "The filing of the criminal complaint this time is an unavoidable measure to clarify the details of the serious reason why FIFTY FIFTY cannot maintain an exclusive contract relationship with ATTRAKT."


They added, "Currently, there's a surge of misinformation and skewed narratives spreading across platforms like social media and YouTube. This has led to undue criticism directed at the group. We sincerely urge everyone to avoid making accusations based on speculation that have not been objectively confirmed."

  1. FIFTY FIFTY
140 49,888 Share 74% Upvoted
 
Katya-K
Katya-K397 pts Thursday, August 17, 2023 25
Thursday, August 17, 2023

The director wanted to return his money invested in the promotion of the group. And the group said, "Your debt is your problem, pay your bills." From a legal point of view, this is true, but from a moral point of view ..... I deeply despise this group and their parents.

97 (+110 / -13)
Share

25 more replies

 
NoahL
NoahL2,050 pts Thursday, August 17, 2023 3
Thursday, August 17, 2023

They can say goodbye to their careers. If they only care about their own profits but doesn't care about the CEO's debts was because of them in the first place.

65 (+76 / -11)
Share

3 more replies

SHOW ALL COMMENTS

allkpop in your Inbox

THE TOP 10 STORIES DELIVERED DAILY
Jang Na Ra, Kim Tae Ri
Song Joong Ki
misc.
JooE
Jungkook
H.O.T, Jang Woo Hyuk
Lim Young Woong
misc.
Song Joong Ki
BTS, Jungkook
Jungkook
BTS, Jungkook
Song Joong Ki
Karina, Yujin
Jang Na Ra, Kim Tae Ri
New Message

SEND