Former YG Entertainment Executive Yang Hyun Suk is causing endless controversy.
The Supreme Court maintained original sentence of CDNA CEO Kim Mo's embezzlement and sentenced Kim to one year and six months in prison with two years probation. The corporation was also charged a fine of 2 million won.
CDNA Corporation is a company that operates Club Gabbia, Moon Night, Toto Gayo, Samgeori Pocha pub and Samgeori Byulbam where Yang Hyun Suk holds 70% stake in the company. His younger brother Yang Min-suk, former YG CEO also owns a 30% stake.
CDNA CEO Kim was handed over to trial on charges of embezzling 649.7 million of company funds over 5 years since 2013 into his personal joint account with his wife. In addition to the embezzlement, he was also charged with 70 million won tax evasion over 3 years for reporting Club Gabbia as a general restaurant and not an entertainment bar.
According to records, Yang Hyun Suk brought over fellow entertainers (celebrities) and acquaintances to a company owned bar and treated them to food and drinks worth 320 million won. CDNA then hid Yang Hyun Suk's credit payment by canceling the order and processing it as a return.
Meanwhile, Yang Hyun Suk is also embroiled in controversy after court documents revealed that he threatened informant A (Han Seo-hee) with death over B.I's scandal.
To people who are confused:
The CEO [current) of YG embezzled 600+m from the company and helped Yang Hyunsuk to cover up 300+m worth of expenses so that YHS doesn't need to pay the money AND the company doesn't need to pay taxes for that chunk. They are working on money laundering together. This is at a Pub where he owns 70% of shares. Basically YG CEO stole from YG (COMPANY) for personal benefit of YHS and himself.
My thoughts: Why is BI getting a 3 year sentence and this mess is not?
Also which group's profits did he steal from?
