Saturday, December 2, 2023

HYBE: Fraud and embezzlement within the agency, one person fired

A dance instructor at Hybe’s Big Hit Music label has been fired from the company for fraud and embezzlement. Hybe promised legal action and prevention of repeat offenses.

Hybe said on November 20: “As soon as we became aware of a member’s misconduct and the damage caused to the company, we conducted an objective investigation with the advice of an external law firm. Since “The person was then dismissed through personnel committee procedures.”

The company continued: “The company is currently undergoing legal proceedings after filing a criminal complaint for the damages it suffered.” The company said: “We will hold the person seriously responsible until the end with the principle of zero tolerance.

Dance coach “A” is known as a choreography teacher for the group BTS and was sanctioned and fired from Hybe in September for fraud and embezzlement.

A” is accused of embezzling tens of millions of won from Hybe’s public funds, as well as extorting billions of won from composers, choreographers and businessmen without returning them.

In the process, he is also accused of having falsified private documents, such as stealing Hybe’s name. It was found that he received money and did not return it in the name of investment in property (MD) or use of music. The amount extorted by “A” is estimated at more than 5 billion won.

Hybe said: “This matter is an act of misconduct by a person who violates the service rules and employment rules under private regulations, and we strictly prohibit members from taking private interests and illegal/unfair acts using internal company information, duties and positions. We also operate a separate reporting center to prevent such behavior and take prompt action.”

Hybe says it will continue to inform the world about harmful fraud behavior to prevent fraudulent behavior, adding: “We will further strengthen the governance system for work ethic education and combating corruption, and, fair trade for all members in order to prevent such incidents from recurring and to strengthen internal control systems.

Journalist: Shawn
Translator: Shawn
Source: HYBE

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