Kim Young Jae Revealed to Have Parted Ways with 4Men, Charged with Fraud
Singer Kim Young Jae‘s name has been a hot topic among the local news today due to two separate issues.
First it was announced the Kim Young Jae had parted way with his group, 4Men. It’s agency, Happy Face Entertainment, stated on April 14, “4Men’s oldest member, Kim Young Jae, has left the team and decided to stand alone after his exclusive contract with the agency ended last month. 4Men’s fifth studio album that is being released next month will be his last album [as part of the group], and the two remaining members, Shin Yong Jae and Kim Won Joo, will promote the new album.”
Kim Young Jae stated through the agency, “I was really happy starting my music career as a member of 4Men. I am truly grateful to everyone who has loved and supported me. Please continue to love 4Men, and I will return the love I have received through my solo career and various activities. I ask for a lot of support and attention.”
Before fans had enough time to digest the news that Kim Young Jae was no longer part of 4Men, news came out about the former member being sued for fraud by a someone in the entertainment industry identified as Mr. Lee.
Mr. Lee stated on April 14, “I submitted a complaint of fraud to the Seoul District Prosecutor’s Office on April 11 after Kim Young Jae swindled 650 million won [~625,ooo USD] under the pretext of investment into car insurance loans. It has come to a lawsuit because [Kim Young Jae] kept on putting off paying back the principal and interest while blaming other people.”
Happy Entertainment commented, “According to Kim Young Jae, people around him have earned money because of him, and his situation has gotten worse recently, causing him to be late in paying back. He says it is not fraud; he feels falsely charged and has said he will solve the issue himself.”