Big Hit Entertainment Company Takes Legal Action After Name Was Used To Commit Fraud Worth Over 4 Million Dollars

November 14th,2019 The entertainment company Big Hit has decided to take legal action after their name was used to commit fraud of at least 4 million dollars worth in US dollars. The individuals involved are not being named but have visited other Korean entertainment companies posing as Big Hit affiliates. They were said to have utilized one of the companies major hits, BTS, to request funds of 5 billion KRW (Korean Won)  to invest in future BTS concerts in Malaysia, Hong Kong, Vietnam and more. One of the individuals who were involved commented that they have gotten attention over a previous major celebrity scandal related to illegal prostitution. The scam continued since February, all the way to October of this year. The victims of the scam claimed to have signed a contract to not disclose the investments and fake concerts to the public. One of the people under suspicion is a major actor who he and his manager, who are not being named, allegedly met with Chinese investors during a BTS concert in Thailand, and claimed to have been affiliated to Big Hit but what the investors didn’t know, was that until earlier this month the BTS Hong Kong concert was a scam. The investors wanted back their investments of 1.1 billion KRW but failed to reclaim them. Big Hit has released a statement related tothe fraud by saying “The contracts depicted in the reports are fake documents. We do not use those document formats, and we have not signed any of these contracts.” “We will take legal action after confirming and identifying the specific damages and criminal charges.”

 

 

 

 

 

Sources: https://www.allkpop.com/article/2019/11/entertainment-insiders-revealed-to-have-used-big-hit-entertainments-name-to-commit-fraud-worth-over-4-million-usd

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