BlockBeats News, May 20th. According to Decrypt, South Korean actor Jung Hae-in has admitted to embezzling $3.1 million (43.4 billion South Korean won) from his talent agency to invest in cryptocurrency. He has been charged under South Korea's "Specific Economic Crimes Aggravated Punishment Act." Jung Hae-in has sold some of his crypto assets and plans to liquidate his real estate holdings to make up for the funds. SBS Plus variety show "Because This Is My First Twenty" has removed all footage of him and reduced hosting content. Elephant Wellife Nucare health drink has also urgently pulled its related promotional materials. Following the incident, the actor has signed with a new agency, Y.One Entertainment.
The defense lawyer claims that the embezzled funds were from his personal acting income, as South Korea prohibits companies from directly holding cryptocurrency, so the funds were temporarily stored in his personal account. The case's second hearing is scheduled for August.
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