YG Entertainment‘s founder and former CEO, Yang Hyun Suk is finally being taken to court after what seems like an excruciatingly long period of time. Back in August 2019, the former CEO was accused of having participated in gambling overseas, and investigations were underway. It seems that we are finally getting some inroads close to a year later.
For those who don’t know, gambling is illegal for Koreans, and many try to circumvent this through creative means overseas. This involves borrowing cash in the local money overseas, then paying the lenders back in Korean Won. The courts have announced that Yang Hyun Suk’s first trial is slated for the 14th of August 2020, on the charges of illegal gambling.
He had been accused of participating in high stakes gambling in Las Vegas during a trip in 2018. The amount of unregistered foreign transactions that the police uncovered totalled ₩1.3 billion KRW ($1,074,066 USD).
On the 21st of July, Star News‘ investigations concluded that Yang Hyun Suk and 4 other related parties received orders for court to be opened on the 14th of August. In May, he was booked with an informal prosecution that charges him with a sentence without court trial, but it seems that it was appealed against, as a trial has been opened ultimately.
In other news, Yang Hyun Suk has been deeply embroiled in such illegal activities’ scandals including the horrendous Burning Sun series as well as accusations of covering up drug use on the end of his artists, leading to his resigning from the position of CEO in June 2019.