Seungri and Yoo In Suk Suspected To Have Embezzled More Funds From Burning Sun Than Previously Reported
Seungri and Yoo In Suk are being suspected of embezzling more funds from Burning Sun together with Madam Lin.
Previously, the two were booked for embezzling 530 million won (approximately $451,000) of Burning Sun profits.
On June 19, the Intellectual Crime Investigation Team of the Seoul Metropolitan Police Agency revealed that Seungri and Yoo In Suk conspired with Madam Lin, and they are being suspected of embezzling a total of 1 billion won (approximately $850,000) out of the 1.8 billion won (approximately $1.5 million) that has been embezzled from Burning Sun. Company Jun Won Corporation, a major shareholder of the club, along with Burning Sun’s CEOs Lee Sung Hyun and Lee Moon Ho are being suspected of embezzling the remainder of the money.
The police stated that Seungri and Yoo In Suk collected Burning Sun profits even when the company was experiencing a deficit, and Burning Sun’s financial structure weakened as the standard accounting and distribution procedures did not occur.
However, there are no plans to request new pretrial detention warrants for the two following the dismissal of the initial warrant requests in May. The police explained that although they are now suspected to be responsible for embezzling a larger amount of money, the amount that they directly collected themselves is still 530 million won. As a result, it seems unlikely that the court will make a new decision regarding the issuance of warrants.
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