Actor Lee Seung-gi sparks controversy with statement on father-in-law's scandal
The South Korean Supreme Court has overturned a "not-guilty verdict" in a stock price manipulation case involving actor-singer Lee Seung Gi's father-in-law. The case, initially indicted under the Capital Markets Act, accused the defendants of artificially inflating a public company's stocks from November 2014 to February 2016. The court stated that the appellate court had erroneously held that the defendants were not guilty without considering how they acquired their funds.
Here's what exactly happened
The accused faced charges for allegedly manipulating the stock prices of their KOSDAQ-listed company. They were accused of selling shares obtained through a capital increase, resulting in a profit of KRW 2.37B (approximately $1.71M). Initially sentenced to prison and fined in the first trial, they appealed the decision. The appellate court later acquitted them, ruling that the disclosure regarding the source of funds for acquiring shares and convertible bonds didn't meet the Capital Markets Act's criteria for unfair trading practices.
Lee's entertainment company requested privacy amid legal turmoil
Following the Supreme Court's decision, Lee's entertainment company, BIG PLANET MADE Entertainment, issued a statement requesting privacy for their artist and his family. The statement read: "We sincerely ask you to leave the family alone. Mr. Lee Seung Gi is now doing his best at being the head of the household, father, husband, and son-in-law." The company also warned against spreading fake news or making malicious comments against Lee or his family.
Public reaction to privacy request overwhelmingly negative
The request for privacy from BIG PLANET MADE Entertainment was met with largely negative reactions from the public. Netizens expressed criticism of the company's threat of legal action before the news became widely known. There was also disbelief at their plea for privacy given their involvement in a public scandal. "Can't believe they are threatening to sue even before this news became the center of attention...So then what about victims' families?" a social media user said.
When the megastar defended her in-laws against the backlash
Lee recently tied the knot with actor Lee Da-in on April 7 amid significant public scrutiny surrounding her family. Days after the marriage, Lee took to Instagram to address various issues in a now-deleted post, including clarifying misinformation about Da-in's family. He refuted allegations related to embezzlement and stock manipulation, emphasizing that such claims were completely false and unsupported by facts. Additionally, he mentioned his departure from HOOK Entertainment and expressed optimism about his future with his wife.
