Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
South Korea’s Hwang Jung-eum Sentenced for Embezzlement

South Korea’s Hwang Jung-eum Sentenced for Embezzlement

CryptotaleCryptotale2025/09/26 06:00
By:Mercy
South Korea’s Hwang Jung-eum Sentenced for Embezzlement image 0
  • Hwang Jun-eum misused company funds for crypto, triggering legal action in Korea.
  • The actress admitted guilt, repaid the embezzled funds, and avoided prison time.
  • A $297M U.S. fine forced her company to exit the market and reshuffle leadership.

South Korean actress Hwang Jung-eum was sentenced to two years in prison, suspended for four years. She will avoid incarceration unless she commits another offense within the suspension period. The Jeju District Court handed down the sentence on September 25, after finding her guilty of embezzling around 4.3 billion won (roughly USD 3.1 million) from her own entertainment agency, Hunminjeongeum Entertainment, which she fully owns.

Crypto Gamble Backfires, Actress Pays Back in Full

Hwang Jung-eum was indicted without detention for misappropriating 4.7 billion Korean won in corporate funds from early 2022 and December of that year, Hwang transferred company funds money earned through her acting work and used a significant portion, about 4.2 billion won, to invest in cryptocurrency. 

She also received 700 million won in advance payments by claiming it was for crypto investments. The court saw this as a serious breach of trust, especially because the money belonged to a registered company, even if it was tied to her personal earnings. The situation has ignited conversations regarding corporate governance and the dangers associated with speculative cryptocurrency investments.

In her first court appearance in May, Hwang admitted to all charges and asked the court for more time to repay the money, which the judge allowed. She later returned the full amount in two payments, on May 30 and June 5, and submitted documents proving the repayments. 

In a public statement, Hwang shared that she had been running her own agency to manage her acting career and was persuaded by someone close to her in 2021 to invest company funds into cryptocurrency, hoping to grow the business. “Even though the money was under the company’s name, it came from my personal work. I made a poor and naïve decision,” she explained. 

Prosecutors originally pushed for a three-year prison sentence, given the amount of money involved and the intentional misuse of company assets. But the judge ultimately gave a lighter sentence, taking into account that Hwang admitted guilt, repaid the full amount, and had no previous criminal record. 

Related: Accountant Arrested in South Korea Over $350K Crypto Loss

Hwang Slammed With $297M in U.S., Exits Market 

This isn’t Hwang’s first run-in with regulators. Earlier this year, Hwang Jung-eum found herself at the center of a major legal issue in the United States, where she was hit with a massive fine of over $297 million. The penalty came after she pleaded guilty to running an unlicensed money transmission service, a serious violation of U.S. financial regulations meant to protect against fraud and money laundering. 

As part of the settlement, Hwang’s company agreed to pull out of the U.S. market for at least two years, halting all operations in the country. On top of that, two of her company’s co-founders were required to step down from their roles, signaling a major shake-up within the organization. This case added to the growing scrutiny Hwang was already facing back in South Korea and highlighted just how risky unregulated financial ventures can be, especially for public figures operating on a global stage. Hwang’s case has raised eyebrows not just because of her celebrity status, but also because it reflects a broader pattern of increased scrutiny in the crypto and entertainment industries. 

The post South Korea’s Hwang Jung-eum Sentenced for Embezzlement appeared first on Cryptotale.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Assessing How Federal Reserve Policies Influence Emerging Blockchain Assets Such as Solana

- Fed's 2025 rate cuts and liquidity injections initially boosted Solana prices by 3.01% but triggered 6.1% drops during October 2025 liquidations. - Regulatory frameworks like EU MiCA and U.S. GENIUS Act drove 8% institutional ownership of Solana, attracting $101.7M in November 2025 inflows. - 35% of crypto volatility stems from Fed policy shifts, with high-rate environments eroding Solana's appeal as investors favor cash equivalents. - Solana's SIMD-0411 proposal aims to reduce token issuance by $2.9B by

Bitget-RWA2025/12/13 09:14
Assessing How Federal Reserve Policies Influence Emerging Blockchain Assets Such as Solana

Sustainable Transportation in Cities and the Adoption of Renewable Energy in Developing Economies

- South Africa and India are leading solar-powered transit growth, driven by decarbonization goals and energy security needs in emerging markets. - Solar bus markets project $17.79B value by 2033 (21.6% CAGR), supported by falling solar costs, EV affordability, and policy frameworks in Africa/Asia. - Behavioral economics shapes e-mobility adoption, with South Africa targeting 18,000 tonnes CO₂ reduction via 120 electric buses and India using social nudges to boost EV uptake. - Cross-regional collaboration

Bitget-RWA2025/12/13 08:50
Sustainable Transportation in Cities and the Adoption of Renewable Energy in Developing Economies

PENGU Price Forecast for 2025: Steering Through Regulatory Challenges and Growing Institutional Confidence

- Pudgy Penguins (PENGU) faces regulatory uncertainty from SEC delays and EU MiCA, causing 30% price drops due to compliance risks. - Institutional interest grows with $273K whale accumulation and rising OBV, contrasting retail fear (Fear & Greed Index at 28). - Ecosystem expansion via Pudgy World and penguSOL, plus Bitso partnership, aims to boost utility but depends on user adoption and regulation. - Expert forecasts diverge: $0.02782 (CoinCodex) vs. $0.068 (CoinDCX), with technical analysis highlighting

Bitget-RWA2025/12/13 07:14
PENGU Price Forecast for 2025: Steering Through Regulatory Challenges and Growing Institutional Confidence
© 2025 Bitget