Jan 06, 2016

    Big Bang's Seungri sues ex-singer over $2.4m losses


    YG ENTERTAINMENT, the management company behind Korean boyband Big Bang member Seungri, told the local media yesterday that his real-estate related investment hiccup is his own private matter but has pledged to provide him with support.

    According to a Yonhap story, his agency said yesterday that Seungri had filed a complaint with the prosecutors over an alleged fraud committed by a former singer that caused him losses of 2 billion won (S$2.4 million).

    "Seungri was astounded," said an official from YG Entertainment. "We will take every measure to prevent him from sustaining any further financial damages."

    Seungri filed a lawsuit against Shin Eun Sung on Monday to recoup the lost funds.

    Shin, a 33-year-old retired female singer, allegedly talked Seungri into investing two billion won in a real estate business in June 2014.

    Two months later, she asked him for an additional 50 million won for setting up an investment firm.

    Seungri agreed to Shin's suggestion as they had known each other for a long time.

    But he became suspicious as the investment firm never materialised.

    Shin, who last year shut her own entertainment firm, could not be reached for comment.

    She released two albums, Go Away (2003) and Bye Bye (2004), in her singing career.

    Meanwhile, Big Bang is scheduled to kick off its Japan Dome Tour with concerts at Osaka's Kyocera Dome from Saturday to Monday.

    Another Korean celebrity who also made the headlines over money matters is Lee Min Ho.

    Last November, a Korean media outlet reported that he was involved in a case where an agency chief, identified only as Kim, asked a woman to invest in the production of a photo album that featured Lee.

    He promised a return of 18 per cent of the profits and the deal was made for 600 million won. However, Kim failed in the project and was unable to return the investment or share the promised profit.

    Even though the case was not directly related to the celebrity himself, many were concerned about the damage to Lee's reputation.