Hwang Jung Eum Admits Embezzlement Of Agency Money For Crypto, Reaches IDR 49 Billion

Hwang Jung Eum (Instagram @jungeum84)

JAKARTA - Actress Hwang Jung Eum embezzled funds using agency money. Recently, he underwent his first trial regarding the case in Jeju on Thursday, May 15.

Prosecutors revealed that Hwang Jung Eum embezzled funds of up to 4.34 billion Won or equivalent to Rp49 billion. The money used is company funds from early 2022 to December 2022.

He received a 700 million loan as a loan from the company for early payments, but he used the money for crypto.

Of course, this embezzlement is detrimental to the agency even though the company belongs to Hwang Jung Eum. The actress invests using her own name because the company cannot hold crypto assets.

At the trial, legal representatives Hwang Jung Eum attended and acknowledged the charges but they claimed the funds were used by Jung Eum to develop his company.

"There is no conflict related to the indictment. After all, the defendant's actions stemmed from the desire to develop the company," said representative Hwang Jung Eum, launching News1.

"Because the company can't take care of crypto, it invests with its name temporarily which unfortunately leads to this situation," he continued.

Furthermore, they also asked for relief because Hwang Jung Eum had sold some crypto to pay for the loss.

"He's already sold some of the cryptocurrencies to pay for some of the losses and plans to liquidate the property to pay for the rest," the law said.

Hwang's legal team asked for a postponement to facilitate the restitution process, which was granted by the court. The next process will be scheduled accordingly.

Hwang Jung Eum is a South Korean singer and actress who starred in various dramas and variety. He last starred in the drama Escape of the Seven.