[South Korean Prosecutors Seek 3-Year Prison Sentence for Actress Hwang Jung-eum Accused of Embezzling 4.2 Billion Won in Public Funds to Invest in Cryptocurrency]
BlockBeats News, August 22, according to Yonhap News Agency, South Korean prosecutors are seeking a 3-year prison sentence for actress Hwang Jung-eum, who has been indicted for allegedly embezzling 4.3 billion won (approximately $3.07 million) in company funds to invest in virtual currency.
On the 21st, during the final trial held at the Jeju District Court's Criminal Division 2 (Presiding Judge Lim Jae-nam), the Jeju District Prosecutors' Office requested the court to sentence actress Hwang Jung-eum to 3 years in prison for violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement).
Earlier reports stated that on June 17, South Korean actress Hwang Jung-eum (phonetic translation) was indicted for allegedly embezzling approximately 4.2 billion won (about $3.07 million) in company funds to invest in virtual currency. Her agency, Y1 Entertainment, announced on June 17 that Hwang Jung-eum had fully repaid the owed amount in two installments on May 30 and June 5. Previously, around 2022, Hwang Jung-eum withdrew a total of 4.34 billion won from Hunminjeongeum Entertainment, most of which was used for cryptocurrency investments. The case involves violations of the embezzlement-related provisions under the Act on the Aggravated Punishment of Specific Economic Crimes and is currently undergoing judicial proceedings.
On-chain data flagged institutional-sized flows, with nearly 155 million in XRP turnover during recovery periods, far above the 63 million daily average.
Crypto may be nearing its S&P 500 moment, with indices set to provide legitimacy, structure, and mainstream adoption for digital assets.
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[U.S. Weekly Initial Jobless Claims Exceed Expectations]
For the week ending August 16, U.S. initial jobless claims reached 235,000, higher than the expected 225,000 and the previous figure of 224,000.
