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ⓣ◗#ParkHyoShin Accused of Fraud - Fifth Lawsuit in Nine Years.
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Singer Park Hyo Shin is once again at the center of controversy, this time facing a lawsuit alleging fraud.
According to a report from SPOTV News on April 25, former representatives of his previous agency filed a complaint against him, accusing him of violating the Act on Increased Punishment for Certain Economic Crimes (Fraud) and obstructing business.
On April 7, former Glove Entertainment executives and shareholders filed a complaint at the Yongsan Police Station in Seoul. The lawsuit alleges that Glove Entertainment held two paid stock offerings in May 2016 and August 2018, in which Park Hyo Shin and other shareholders received new shares. The plaintiffs allege that Park Hyo Shin misled them about his ownership of the shares, claiming that there was a “trust agreement” between the parties when in fact there was none. They claim that the singer claimed to have transferred the shares to others only formally when in fact they belonged to him, leading the plaintiffs to mistakenly believe that he had legal rights to the shares.
It is also alleged that in March 2022, Park Hyo Shin used the voting rights from those shares at a general meeting of shareholders to appoint three people loyal to him to the board of directors, thereby gaining control of the company. In August 2023, he allegedly used those same voting rights to remove the previous CEO, a certain A.
The plaintiffs call Park Hyo Shin’s actions “triangular fraud,” in which the deceived party and the injured party are not the same.
However, Park Hyo Shin's side denies all the allegations, stating in media interviews that he is currently only involved in a civil lawsuit and that no fraud lawsuit has been filed against him.
This is the fifth lawsuit that Park Hyo Shin has faced. In 2006, his former agency Nissy Entertainment sued him, claiming that he had illegally terminated an exclusive contract and demanded 1 billion won (approximately $750,000) in compensation. Park Hyo Shin countersued, and the case ended with the lawsuit being withdrawn. In 2008, he was again in court, this time with Nawon Entertainment (later Interstage), which demanded 3 billion won (approximately $2.25 million) for contract termination. Despite Park Hyo Shin's denial of the allegations, the court sided with the agency.
In May 2014, he was charged with attempting to evade the enforcement of a court order by allegedly concealing, damaging, or falsely transferring property. He was initially acquitted, but the Supreme Court upheld the conviction in 2016.
In addition, in 2019, a businessman filed a lawsuit against the singer, claiming that he fraudulently appropriated property worth over 400 million won (about $300,000), including a car and a wristwatch.
Despite all the legal difficulties, Park Hyo Shin is scheduled to perform in the 10th anniversary production of the musical "Ghost," which will premiere on May 31.
│@AsianInBrazil 🏮
│@l_kpop_universe 🪭
♪⎯⎯⎯⎯⎯⎯⎯⎯⎯ ♪
━━━━━━━━━━━━━━━━━━
Singer Park Hyo Shin is once again at the center of controversy, this time facing a lawsuit alleging fraud.
According to a report from SPOTV News on April 25, former representatives of his previous agency filed a complaint against him, accusing him of violating the Act on Increased Punishment for Certain Economic Crimes (Fraud) and obstructing business.
On April 7, former Glove Entertainment executives and shareholders filed a complaint at the Yongsan Police Station in Seoul. The lawsuit alleges that Glove Entertainment held two paid stock offerings in May 2016 and August 2018, in which Park Hyo Shin and other shareholders received new shares. The plaintiffs allege that Park Hyo Shin misled them about his ownership of the shares, claiming that there was a “trust agreement” between the parties when in fact there was none. They claim that the singer claimed to have transferred the shares to others only formally when in fact they belonged to him, leading the plaintiffs to mistakenly believe that he had legal rights to the shares.
It is also alleged that in March 2022, Park Hyo Shin used the voting rights from those shares at a general meeting of shareholders to appoint three people loyal to him to the board of directors, thereby gaining control of the company. In August 2023, he allegedly used those same voting rights to remove the previous CEO, a certain A.
The plaintiffs call Park Hyo Shin’s actions “triangular fraud,” in which the deceived party and the injured party are not the same.
However, Park Hyo Shin's side denies all the allegations, stating in media interviews that he is currently only involved in a civil lawsuit and that no fraud lawsuit has been filed against him.
This is the fifth lawsuit that Park Hyo Shin has faced. In 2006, his former agency Nissy Entertainment sued him, claiming that he had illegally terminated an exclusive contract and demanded 1 billion won (approximately $750,000) in compensation. Park Hyo Shin countersued, and the case ended with the lawsuit being withdrawn. In 2008, he was again in court, this time with Nawon Entertainment (later Interstage), which demanded 3 billion won (approximately $2.25 million) for contract termination. Despite Park Hyo Shin's denial of the allegations, the court sided with the agency.
In May 2014, he was charged with attempting to evade the enforcement of a court order by allegedly concealing, damaging, or falsely transferring property. He was initially acquitted, but the Supreme Court upheld the conviction in 2016.
In addition, in 2019, a businessman filed a lawsuit against the singer, claiming that he fraudulently appropriated property worth over 400 million won (about $300,000), including a car and a wristwatch.
Despite all the legal difficulties, Park Hyo Shin is scheduled to perform in the 10th anniversary production of the musical "Ghost," which will premiere on May 31.
│@AsianInBrazil 🏮
│@l_kpop_universe 🪭
♪⎯⎯⎯⎯⎯⎯⎯⎯⎯ ♪
04/26/2025, 22:08
t.me/asianinbrazil/11237
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