Kwon Jin-young, CEO of Hook Entertainment, has been handed a suspended prison sentence after being charged with embezzling billions of won from company funds for personal use.
On the 3rd, the Seoul Southern District Court's Criminal Agreement Division 12, led by Chief Judge Park Jong-ryul, sentenced Kwon to two years in prison with a four-year suspension for charges including embezzlement and breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes.
The court noted, "Exercising control over a company to arbitrarily use its assets is not socially acceptable and cannot be considered a minor offense." However, it also acknowledged, "The defendant has admitted to the charges, and all damages have been recovered through repayment or deposit."
Kwon was indicted last October for allegedly using approximately 4 billion won from Hook Entertainment's funds for personal expenses such as purchasing furniture and paying insurance premiums from 2012 to 2022. Kwon is also facing trial for allegedly obtaining sleeping pills illegally through an employee. Additionally, Kwon has been involved in a financial dispute with singer and actor Lee Seung-gi over settlement payments.
Reported by Kim Ji-won, Ten Asia, one@tenasia.co.kr