CEMA Is Being Investigated for Misuse of Funds
CEMA, Corean Entertainment Management Association, who has been in the news before for their stance on Park Shi Hoo‘s return to the screen and Jung Suk Won’s contract disputes, is another entertainment company to be audited for their usage of funds and resources.
It is being reported that CEMA has been going through an investigation since last week by the Induk Accounting Firm. The accounting firm told Sports Korea, “It is true we are in charge of investigating CEMA. However, we are not at a stage where we can disclose any official information.”
According to CEMA, the investigation started after a meeting of the board of Directors. CEMA is financially supported by grants from the Pusan International Festival, Asia Pacific Advanced Network, Daejeon Drama Festival, among other organizations. Induk Accounting Firm is investigating on how the funds were used by going through its accounting books and records.
A representative of CEMA said, “It’s been seven years since CEMA began in 2007. An internal cry that the company needed to be cleanse was made and the decision was made after a meeting of the board.”
However, there are reports doubt that an investigation would start from an internal decision. Some are doubting that the company would volunteer an unplanned investigation. In response to the skepticism, the representative said,””Any organization can have internal disagreements. This is all to send the company in the right direction. The results of the investigation will clear everything up.”
CEMA is not the only entertainment company that is being investigated. On March 20, it was reported that SM Entertainment was being investigated for fraud and tax evasion by the National Tax Service.