Asian Junkie Asian pop. Without discretion.
Back in September of 2019, former LOEN Entertainment executives were indicted for allegedly stealing royalties while operating the music streaming site Melon. Recently they were found guilty of stealing royalties, with one exec getting three years and six months in prison, one was put on probation for four years with a sentence of two years and six months if violated, and another was put on probation for three years with a sentence of 18 months.
Former Loen Entertainment CEO “Shin” had previously been indicted on charges of violating the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (fraud). On February 16, the Seoul Eastern District Court sentenced Shin to three years and six months in prison. The company’s former vice-president “Lee,” who was brought to trial along with Shin, was sentenced to two years and six months in prison with a probation period of four years. Former director “Kim” received a sentence of a year and six months, with a probation period of three years. This means that these two executives will only serve the prison sentences if they commit another offense during their probation period.
The court found them guilty on all charges presented and stated, “The defendants committed the crime of using dishonest methods to deceive the music rights holders and therefore steal the money that those people should have received, losing their trust. There is much room for criticism.” “As Shin had the right to make the final decision over this systematized crime, he has the highest liability and there is the most room for criticism,” the court stated.
The executives reportedly stole ~$17 million, including ~$4 million in royalties and ~$13 million to copyright holders.
Over a decade later all of this is now resolved, but I honestly wonder how much they were able to recoup.
