South Korean Actor Sentenced for Misappropriating Funds for Cryptocurrency Investment

According to PANews, South Korean actor Hwang Jung-eum has been sentenced by the Jeju District Court to two years in prison, suspended for four years, for misappropriating approximately 4.34 billion Korean won (around $3 million) from her personally held agency for cryptocurrency investments. The prosecution initially sought a three-year prison term in August, but the court took into account that this was her first offense and that she had fully repaid the amount. The court's ruling revealed that about 4.2 billion Korean won was directly invested in cryptocurrency assets, while the remainder was used for tax payments. Legal representatives for Hwang stated that the resources involved originated from her personal earnings in the entertainment industry, and due to restrictions preventing the company from directly holding cryptocurrency assets, they were temporarily held under her name. The incident has led to the removal of Hwang from various variety shows and advertising collaborations.