Cho PD’s Appeal For Fraud Case Dismissed + Sentence Remains Unchanged
The court has dismissed the appeal made by Cho PD, who was charged with committing fraud.
On May 22, the Seoul Central District Court held a trial for his appeal. The trial was previously scheduled for May 8 but was postponed due to some changes.
In the end, the court dismissed the appeal and confirmed his previous sentence of two years in prison, suspended for three years. This means of that he will be spending three years on probation and will have to serve a two-year term in prison if he violates the conditions of the probation during those years.
In July 2015, Cho PD signed a contract to transfer the assets of Stardom Entertainment and the agency’s artists to company “A.” It also included the conditions that Cho PD must work at company “A” for at least five years and that he would receive 1.2 billion won (approximately $1.06 million) that he invested in the agency’s artists. It also included agreed-upon conditions that he would receive up to 2 billion won (approximately $1.76 million) in stock options depending on his additional years of work.
Cho PD hid the fact that he received 270 million won (approximately $238,116) for idol group Topp Dogg’s Japanese tour payment and pocketed 1.2 billion won (approximately $1.06 million) during the process of signing the contract.
Top Photo Credit: Xportsnews