Police Request Arrest Warrant for Chagawon on 30 Billion Won Fraud Charges

Entertainment Agency CEO Faces Controversy Over Unpaid Settlement

Received Advance Payment for Artist IP Business, Fails to Deliver

The police have applied for an arrest warrant for Chagawon, Chairman of Piack Group and CEO of entertainment agency One Hundred Label, on charges of fraud amounting to 30 billion won.

The Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency announced on the 15th that it has applied for an arrest warrant for Chairman Cha on suspicion of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes.

Chagawon, Chairman of Piack Group and CEO of One Hundred Label. One Hundred

According to the police, Chairman Cha is accused of proposing a business using the intellectual property (IP) of artists affiliated with his agency to Nomus Co., Ltd., signing a contract, receiving 24.2 billion won as an advance payment, and then failing to fulfill the business agreement.

The police believe that Chairman Cha entered into a separate contract with Nomus without informing them that a previous contract with another company was still in effect and unlikely to end in the short term. They also suspect the contract was executed without any substantive preparations for carrying out the business.

Separately, Chairman Cha is also accused of proposing to an acquaintance that they enter into a jeonse (long-term lease) contract for their respective homes, receiving a deposit of 5.4 billion won, and then failing to fulfill his part of the agreement.

This content was produced with the assistance of AI translation services.