The renowned actress, known for her previous role in Sugar, now stands accused of siphoning off a significant sum estimated at 4.3 billion won from corporate reserves. As a consequence, the prosecution is advocating for a three-year term of imprisonment to address these charges.
According to insights gathered from legal insiders on the 21st, the Jeju District Prosecutors' Office has submitted a proposal for a three-year prison sentence against Hwang. This recommendation was made during the conclusive proceedings held for her breach of the Act on the Aggravated Punishment of Specific Economic Crimes, specifically regarding embezzlement, in the Criminal Division 2 of the Jeju District Court, presided over by Judge Lim Jae-nam.
The judicial proceedings revealed that Hwang was indicted for allegedly diverting approximately 4.34 billion won in company finances, including around 700 million won borrowed by Hunminjeongeum Entertainment. These funds were reportedly redirected towards cryptocurrency investments under the pretense of advance payments early in 2022.
It has been disclosed that the sum of about 4.2 billion won from the embezzled resources was channeled into cryptocurrency, with the residual funds allocated for settling property and local tax obligations, among various other expenditures.
The enterprise implicated in this financial controversy is a family-run entity in which Hwang holds exclusive ownership, being the sole shareholder. She is also the only artist represented by the management of this company.
In a candid admission, Hwang’s defense team has conceded to all counts leveled against her. They have reported that the funds initially obtained as advance payments from Hunminjeongeum Entertainment had been reimbursed by June 5, with pertinent documentation submitted to the Jeju District Court.
During the proceedings, Hwang’s legal representatives have appealed for mercy, arguing, "The defendant pursued these investments with the ambition of expanding the company. Her lack of familiarity with accounting practices and procedural norms led her to believe that repayment would rectify the situation, resulting in the alleged criminal conduct. As there are no additional victims and the full amount has been returned, we urge consideration."
The decisive sentencing session for Hwang is slated to commence at 10 a.m. on the 25th of the upcoming month.