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omonatheydid
K-pop boy band JYJ’s agency executives stand accused of fraud involving the cancellation of overseas concerts, the prosecution said Thursday.
An investor in the band’s overseas projects filed a complaint with the Seoul Central Prosecutors’ Office against five executives of the agency C-JES Entertainment, claiming he suffered damages due to the cancellation of the concert and fraud by the management agency.
The investor surnamed Park, owner of a health food company, said that he invested 1.24 billion won ($1 million) in overseas concerts but retrieved none of the investment due to cancellations.
In reaction, JYJ’s agency said Thursday it will take all necessary legal action to fight what it calls false accusations.
In the complaint, Park said the agency signed a contract with investors, concealing billions of won in debt to lure investment for JYJ’s world tour last year. Among the five accused are Baek Chang-joo, president of the entertainment agency, and other concert-related officials.
“Unlike the presentations that were made to investors showing a healthy financial state, the agency had billions of won in debt. So I presume that the agency’s foremost purpose of launching the tour was to repay the debt with investors money, not to make more money for them,” Park said.
He said the agency cancelled one of four planned concerts and the other three concerts were free, resulting in huge losses to investors.
JYJ is made up of Jun-su, Jae-joong and Yu-chun, three former members of TVXQ. Meanwhile, JYJ donated 600 million won to help quake victims in Japan, the agency said Thursday. Jun-su was in Japan when the 9.0-magnitude earthquake hit on March 11 shooting a drama.
Source: Park Si-soo @ The Korea Times
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no subject
Date: 2011-03-19 02:45 pm (UTC)no subject
Date: 2011-03-19 03:27 pm (UTC)Sorry, couldn't resist.
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Date: 2011-03-19 02:49 pm (UTC)no subject
Date: 2011-03-19 02:49 pm (UTC)no subject
Date: 2011-03-19 02:49 pm (UTC)Anther article was released a few days ago about this, and the lawsuit wasn't against C-jeS, but against the guy (M. Kim) who C-jeS passed the rights of JYJ's concerts to.
For what I've read previously, this lawsuit was actually between M. Park and M. Kim, and that C-JeS was not involved.
Can someone confirm this ?
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Date: 2011-03-19 03:04 pm (UTC)C-JeS sued investor Park and H Dream..
(source: theJYJfiles)
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Date: 2011-03-19 02:52 pm (UTC)no subject
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Date: 2011-03-19 02:56 pm (UTC)(no subject)
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Date: 2011-03-19 03:00 pm (UTC)http://jyj3.wordpress.com/2011/03/15/news-investor-in-jyj-concert-sues-rights-holders-for-fraud/
Oh and, C-JeS sued them..
http://jyj3.wordpress.com/2011/03/17/news-c-jes-to-sue-investor-park-and-h-dream-for-defamation-and-false-charges-against-jyj/
Poor boys.
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Date: 2011-03-19 03:13 pm (UTC)(cf a comment a little below)
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Date: 2011-03-19 03:02 pm (UTC)no subject
Date: 2011-03-19 03:30 pm (UTC)no subject
Date: 2011-03-19 03:04 pm (UTC)"C-JeS to Sue Investor Park and H Dream for Defamation and False Charges against JYJ". © (http://jyj3.wordpress.com/2011/03/17/news-c-jes-to-sue-investor-park-and-h-dream-for-defamation-and-false-charges-against-jyj/)
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Date: 2011-03-19 03:05 pm (UTC)no subject
Date: 2011-03-19 03:18 pm (UTC)(no subject)
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Date: 2011-03-19 03:29 pm (UTC)no subject
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Date: 2011-03-19 03:43 pm (UTC)no subject
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Date: 2011-03-19 05:23 pm (UTC)(no subject)
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Date: 2011-03-19 04:55 pm (UTC)no subject
Date: 2011-03-19 05:10 pm (UTC)I don't see how JYJ's company being shady = JYJ themselves being shady
Who ever did the US tour stuff should have known about the visa issue and is the only one who should be sued tbh.
Do you think that JYJ didn't lose money by doing these free showcases?
so much misinterpretation of information here.
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Date: 2011-03-19 05:31 pm (UTC)(no subject)
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Date: 2011-03-19 05:11 pm (UTC)no subject
Date: 2011-03-19 09:22 pm (UTC)no subject
Date: 2011-03-19 05:16 pm (UTC)Second, C-JeS now counter suing for defamation since this has nothing to do with JYJ, C-JeS or Warner.
Hope people actually read before jumping to conclusions but it seems that may be too much to ask....
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Date: 2011-03-19 05:32 pm (UTC)no subject
Date: 2011-03-19 05:34 pm (UTC)