Artist Company files criminal complaint against five former officials for breach of trust

Artist Company filed a criminal complaint with the Seoul Gangnam Police Station on the 22nd against five individuals, including a former executive, for professional breach of trust involving approximately 681,760,000 won. The legal action follows an external investigation into allegations first disclosed last month.

Artist Company, where actor Lee Jung-jae is the largest shareholder, has filed a criminal complaint with the police against five individuals, including former executives, on charges of professional breach of trust. The company has identified the amount in question to be approximately 680 million won. As the breach of trust allegations previously raised have led to a criminal complaint following an external legal review, attention is focusing on the specific circumstances and the determination of responsibility.

According to information confirmed on the 23rd, Artist Company filed a complaint against five individuals, including a person identified by the surname Lee, at the Seoul Gangnam Police Station on the 22nd for violations of the Act on the Aggravated Punishment of Specific Economic Crimes (professional breach of trust). The total amount of alleged damages calculated by the company is 681,760,000 won. This figure was reportedly calculated based on the results of an investigation by an external law firm commissioned by the company.

This complaint is a follow-up action to the breach of trust allegations first disclosed on the 17th of last month. At that time, Artist Company stated it had confirmed allegations of professional breach of trust involving an unregistered executive, Mr. Lee, though the specific scale of the damage was not disclosed. The company maintained its position that it would take necessary legal actions, including claims for damages, after identifying the facts and the amount of loss through audits and external legal counsel.

Following the external legal consultation, the company proceeded with the criminal complaint against the five individuals, including Mr. Lee. However, the specific transaction details and individual charges for the other four people included in the complaint have not yet been made known. As the case is currently at the complaint stage, whether actual breach of trust occurred and the scope of responsibility will be confirmed during the upcoming investigation process.

Artist Company is an entertainment agency representing actors including Lee Jung-jae, Jung Woo-sung, Yum Jung-ah, Lim Ji-yeon, and Kim Hye-yoon. Since the breach of trust allegations against former executives have moved into criminal proceedings within a company that operates based on a management business managing the activities of actors, the case is also drawing interest regarding the company's internal management and decision-making processes.

The recent resignation of Jung Woo-sung from his position as a director is also drawing attention in connection with changes within and outside the company. Jung Woo-sung stepped down from his position as an internal director of Artist Company on the 2nd of this month. He resigned mid-term, approximately six months before his term was scheduled to expire on March 28 of next year. However, it has not been confirmed whether there is a direct link between his resignation and this breach of trust complaint.

This complaint against the five former executives and others is a measure that materializes Artist Company's intent to resolve internal suspicions through legal procedures. The key issues moving forward will be determining which transactions led to the allegations involving approximately 680 million won and whether the actual damages and the extent of responsibility can be confirmed through the investigation.

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