Once a beloved member of the musical ensemble Sugar, Hwang Jung-eum now finds herself entangled in a legal battle over allegations that she siphoned off nearly 4.3 billion won from corporate funds. The gravity of her situation is underscored by the prosecutors' demand for a three-year custodial sentence.
Reports emerging from legal circles on the 21st reveal that the Jeju District Prosecutors' Office has formally requested a three-year prison term for Hwang. This request was pronounced during the concluding session of her trial, adjudicated under the provisions of the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement). The proceedings unfolded under the stewardship of Presiding Judge Lim Jae-nam at the Criminal Division 2 of the Jeju District Court.
The core of the accusation against Hwang revolves around her alleged misappropriation of approximately 4.34 billion won in company funds. Notably, this sum includes around 700 million won borrowed by Hunminjeongeum Entertainment, which Hwang purportedly funneled into cryptocurrency investments disguised as advance payments in the early months of 2022.
It has been disclosed that a significant portion of the embezzled funds, roughly 4.2 billion won, was ostensibly invested in the volatile world of cryptocurrency. Meanwhile, the residual funds were reportedly allocated to settling property and local tax liabilities, alongside other financial obligations.
The company at the center of this controversy is described as a family-run entity where Hwang holds complete ownership of the shares, making her the sole artist under its operational umbrella.
Acknowledging the allegations, Hwang and her defense have conceded to the charges. They have taken corrective action by returning the funds originally drawn as advance payments from Hunminjeongeum Entertainment. These reimbursement efforts were finalized by June 5, with supporting documentation submitted to the Jeju District Court.
In a plea for mitigation, Hwang's legal representatives stressed the absence of malevolent intent, emphasizing her genuine aspiration to advance the business. They explained her lack of familiarity with accounting norms and procedures, which contributed to her misguided belief that repayment would rectify the situation. Highlighting the absence of any additional victims and the complete restitution of the embezzled funds, they appealed for a lenient judgment.
The decisive sentencing hearing for Hwang Jung-eum has been slated for 10 a.m. on the 25th of the forthcoming month, marking a crucial juncture in this high-profile legal case.