Billions-won embezzlement suspect, Hook Entertainment’s CEO Kwon Jin-young’s arrest warrant rejected

On the 29th, at the Seoul Southern District Court, Judge Yoo Hwan-woo, in charge of arrest warrants, rejected the arrest warrant requested for Kwon Jin-young, the CEO of Hook Entertainment, who is suspected of embezzling tens of billions of won in production fees.

After conducting a pre-arrest hearing for Kwon Jin-young, the judge stated, “Most of the evidence related to the crime has been collected, and the suspect’s residence is stable.” He also added, “Considering the progress of the investigation and the attitude displayed during questioning, such as fully returning the amount to the victim or making a public pledge, it is not easy to see a concern for evidence destruction or escape.”

Kwon Jin-young, the CEO, is accused of embezzling approximately 4 billion won from Hook Entertainment’s funds from 2012 to October of last year.

The police are also investigating singer Lee Sun-hee for embezzlement. Lee Sun-hee established One Entertainment in 2013 and served as the CEO until June of last year, during which she was investigated by the police for allegations of misusing production fees. CEO Kwon was also known to have been on the board of directors of One Entertainment.

Kwon Jin-young, the CEO, is also under police investigation for allegedly illegally obtaining zolpidem, a prescription sleep-inducing medication classified as a psychotropic substance (violation of the Narcotics Control Act). He was referred to the prosecution in June.

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