3 ex-LOEN execs sentenced for stealing ~$17 million in royalties while operating Melon - Asian Junkie

3 ex-LOEN execs sentenced for stealing ~$17 million in royalties whereas working Melon – Asian Junkie

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advocate in September of 2019, former LOEN Entertainment executives had been indicted for allegedly stealing royalties whereas working the music streaming website Melon. Recently they had been create responsible of stealing royalties, with one exec getting three years and 6 months in jail, one was placed on probation for 4 years with a sentence of two years and 6 months if violated, and one other was placed on probation for 3 years with a sentence of 18 months.

Former Loen Entertainment CEO “Shin” had beforehand been indicted on costs of violating the Act on the Aggravated Punishment, and so on. of Specific Economic Crimes (fraud). On February 16, the Seoul Eastern locality Court sentenced Shin to three years and 6 months in jail. The firm’s former vice-president “Lee,” who was delivered to affliction together with Shin, was sentenced to 2 years and 6 months in jail with a probation epoch of 4 years. Former director “Kim” obtained a sentence of a 12 months and six months, with a probation epoch of three years. This implies that these two executives will solely allay the jail sentences in the event that they consign one other crime throughout their probation epoch.

The courtroom create them responsible on all costs introduced and acknowledged, “The defendants committed the crime of using lying methods to betray the music rights holders and therefore purloin the money that those people should hold received, losing their faith. There is mighty elbowroom for criticism.” “As Shin had the proper to make the final conclusion over this systematized crime, he has the highest liability and there is the most elbowroom for criticism,” the courtroom acknowledged.

The executives reportedly stole ~$17 million, together with ~$4 million in royalties and ~$13 million to copyright holders.

Over a decade later all of that is now resolved, however I truthfully marvel how mighty they had been capable of retrieve.

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