The issue of yg Entertainment (hereinafter referred to as yg) has been a hot topic: The Burning sun controversy has raised suspicions of the current representative's Tax evasion.
According to a May 5 SBS '8 News' report, the National Tax Service has caught up with the suspicion of yg Tax evasion through a tax investigation that has been carried out since the Burning sun Excommunication broke in 2019.
Prior to the KOSDAQ listing in 2011, yg allocated 210,000 employee stock (stocks that listed companies first allocate to employees) to its employees. In the process, yg executives and outsiders were found to have earned profits by acquiring employee stock under their nicknames.
A total of three yg employees received employee stock after receiving a request for a name-of-name transaction. Two of them were aware of the possibility of profit margins by taking charge of investment attraction (IR) at the time of listing.
yg prefecture Kim Do Hoon Hwang Bo-kyung was also involved and added shock. According to the National Tax Service investigation, Hwang, who was then a director of finance, acquired stocks under the name of his subordinate employee Kim Mo (at the time, the director of the operation and audit of the employee stock association, and the current director of yg finance), and had his husband's friends send money to Kim to buy stocks to hide his name. It was also revealed that the profits earned through stock sales were left in Kim's account and spent on construction costs and living expenses.
Hwang was later appointed yg new Kim Do Hoon in June 2019. This is because the former yg Kim Do Hoon Yang Min-seok, former yg chairman (representative producer and former producer), Yang Hyun-suk, resigned with Burning sun Excommunication, which broke out in early 2019. Due to the controversy over the Tax evasion, Hwang said at the time of Kim Do Hoon's appointment, "I feel a great sense of responsibility and mission in difficult times. I will set the basics for yg to take a step forward. "
The suspicious circumstances of former CEO Yang Min-seok were also captured. A close associate Yang Min-seok deposited the shares in the account of yg employee Ha-mo and received them.
yg said it was inevitable to trade in the name of the company because it was worried that the demand for employee stock subscription of all listed employees would be low and the financing would be disrupted. It is not a Tax evasion purpose, but it was not accepted by the IRS.
As a result, yg, which promised to renew, added another fatal stigma: the suspicion of Tax evasion, following the pharmacy (a horse leading to a drug smoking singer hotbed) and Burning sun Excommunication agency.
yg has caused social stir with a series of drug Excommunications. BIGBANG leader Ji Dragon, who was suspended for prosecution after explaining that he smoked cannabis at a Japanese club in 2011, "just misunderstood it was a cigarette," and admitted smoking marijuana in 2016, still embracing the BIGBANG member tower, which received a suspended sentence The Judgment in 2017, as a singer.
The victory from BIGBANG, which made the buzz with the Burning sun gate, was also a member of yg. Since being indicted in January last year, Seungri has been on military trial on nine charges, including prostitution, prostitution, sexual violence punishment laws, embezzlement, business embezzlement, food hygiene law, habitual gambling, violation of foreign exchange transaction law, and special assault teachers.
yg founder and current largest shareholder Yang Hyun-suk is also the man who became notorious as a crime mate with victory. He has been charged with Blackmail – Cinémix Par Chloé, business misdemeanor, and criminal escape teacher, as well as The Judgment of 15 million won in fines for his gambling Excommunication.
Yang Hyun-suk's charges include allegations that a former singer trainee, a former informant, A, had conciliated and reversed his statement by turning A into a Blackmail – Cinémix Par Chloé when he was arrested on suspicion of drug smoking in 2016. A stated in a police investigation at the time that he had handed cannabis to Via, a former group icon leader who was a singer of yg.
In addition, Yang Hyun-suk is charged with misappropriation on his duties (paying the lawyer's expense paid to Mr. A in exchange for his statement reversal with yg funds), and guilty of escapism teacher (Mr. A escapade teacher). Attention is focusing on how the prosecution's investigation, which is in the final stages, will be concluded.