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South Korean Prosecutors Seek Three-Year Prison Sentence for Actress Hwang Jung-eum in Crypto Embezzlement Case
Prosecutors have requested that a South Korean court impose a three-year prison sentence on actress and former singer Hwang Jung-eum for misappropriating company funds to invest in cryptocurrency.
Hwang has acknowledged utilizing 4.3 billion won ($3.1 million) from her entertainment agency to purchase cryptoassets in 2022.
Hwang Jung-eum: Crypto Charges
Prosecutors allege that the actress also secured an 800 million won ($571,866) loan in July 2022 under the name of the same company.
The South Korean actress Hwang Jung-eum gained recognition in the 2009 sitcom High Kick Through The Roof. (Source: MBC/Screenshot)
They informed a branch of the Jeju District Court that Hwang subsequently transferred the majority of these funds to her personal bank account, which she then used to acquire cryptocurrency.
Prosecutors provided evidence indicating that she conducted over a dozen similar transactions in 2022, consistently utilizing company funds to purchase coins.
They further accused Hwang of using company resources to settle her bills, including property taxes and local levies.
Her defense team requested the court for leniency, asserting that she had since liquidated her assets to reimburse the company.
The court is scheduled to reconvene in late September for sentencing.
Hwang rose to prominence in the late 2000s with her role in the popular MBC sitcom High Kick Through The Roof.
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She has also featured in more recent successful dramas, including Kill Me, Heal Me (2015) and The Escape of the Seven (2023–2024).
Actor Hwang Jung-eum admitted to taking 4.3 billion won ($3 million) in company funds from her family-owned agency, a majority of which she invested in cryptocurrency, while testifying in a trial on Thursday, News1 reported.https://t.co/4SA66LKBeh
— The Korea JoongAng Daily (@JoongAngDaily) May 15, 2025
Defence Team Asks for Court’s Clemency
The South Korean publication The Hankyoreh reported that Hwang’s legal representatives informed the court that she had sold real estate assets to assist in repaying her debts.
The team submitted legal documentation to the court to substantiate these assertions.
Hwang also stated that she had made crypto purchases “with the encouragement of people around me in hopes of growing the company.”
Actress Hwang Jung-eum on trial for embezzling $31 million for crypto investmenthttps://t.co/FssMALivqB
— The Korea Times (@koreatimescokr) May 16, 2025
She acknowledged that she had exercised “poor judgment” in this situation. Hwang expressed remorse and indicated that she had “reflected” on her actions.
Hwang’s defense team also urged the court to take into account that the company in question was a one-person agency. A lawyer stated:
“The defendant created the company to manage her own entertainment industry activities. She owns 100% of the shares, and no other entertainers are affiliated with it.”
The lawyer added that Hwang had demonstrated “immaturity.” However, the attorney noted that the actress was “deeply reflecting” on the nature of her misconduct.
The post South Korean Prosecutors Demand 3-Year Jail Term for ‘Crypto-Embezzling’ Actress Hwang Jung-eum appeared first on Cryptonews.
