Major K-Pop Label’s CEO Gets Arrested For Alleged Fraud

Her label manages major K-Pop artists including multiple EXO members. 44 minutes ago The CEO of ONE HUNDRED, a major K-entertainment company, has been arrested on charges of fraud. According to reports, on August 3 (KST), the Seoul Central District Court issued an arrest warrant for CEO Cha Ga Won, who is facing charges of fraud under the Act on the Aggravated Punishment etc of Specific Economic Crimes. She is reportedly being detained at the Seoul Mapo Police Station. Cha Ga Won | Yonahp Cha stands accused of proposing a business venture to a company called Knowmerce Corp., using the intellectual property (IP) of the artists under her agency. She reportedly signed a contract and received an advanced payment of ₩24.2 billion KRW (about $16.9 million USD) but failed to carry out the business. Investigation revealed that the total scale of the alleged fraud was around ₩30.0 billion KRW (about $21.0 million USD), since she also received a ₩5.40 billion KRW (about $3.78 million USD) deposit from an acquaintance under the pretext of entering into a “jeonse” contract and then failing to honor the agreement. The Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency, w...