Korean man arrested for defrauding 600 million won with Lee Min Ho photos
There are many scams and frauds, but this unusual case involves famous actor Lee Min Ho's photos and 600 million won, or about half a million in US dollars. What's more, the alleged fraudster is reportedly the husband of a Korean celebrity. Read more about it here.
First of all, Lee Min Ho is safe and sound, and he is not a party in the case. Whew!
On November 9, a Korean man was arrested for being accused of bilking 600 million won from an investor. The sum is equivalent to about 517,000 US dollars. The man, Mr. Kim, is reported to be a director in an entertainment agency and the husband of a Korean celebrity.
Mr. Kim was reported to have signed a deal with actor Lee Min Ho's agency in December 2013 to acquire the publication rights of the famous actor's photos for 450 million won. He then obtained 600 million won from an individual investor, who was promised an 18 percent profit in a year.
However, the investor has yet to see any of the promised profit or the return of her principal. After failing to get payments despite several attempts, the investor opened the case with Korean police.
Although Mr. Kim allegedly grossed over 1 billion won in the venture, he told the police that there was no profit by saying, “The actual sales were only 600 million won and it didn’t reach the break-even point.”
After interrogation, the Seoul Yeongdeungpo police has forwarded the case to the prosecutor's office and also said the case has nothing to do with Lee Min Ho's agency, Starhaus entertainment.
The news mentioned the Lee Min Ho photos and two DVDs were packaged in an "All My Life" album for sale. Guess what I found? THIS sounds like the product, doesn't it? I don't know for sure. Stay tuned.
Can Lee Dong Wook and Jung Ryeo Won navigate the line between romance and friendship? Find out in the sweet romance series Bubblegum:
(Photo credit: Starhaus)