[Reporter Lee Da-gyeom, Daily Economy Star Today]
Amid reports that singer K2 Kim Seong-myeon was accused of fraud, the ‘Flaming Youth’ official announced that it was “confirming” the fact.
On the 28th, Sports Today reported that K2 Kim Seong-myeon received an investment of 30 million won from investor A in August last year as an album production cost, but was accused of fraud because he did not repay.
According to reports, Kim Seong-myeon released his single album ‘Cry out’ in October last year, and received 30 million won investment from A for music video production costs, media promotion, and showcase progress.
The contract contained a clause stating that the proceeds generated from Kim Seong-myeon’s activities are distributed by A and Kim Seong-myeon in a fixed ratio, and that the investment amount of A is collected first at the time of settlement. Also, they argued that the distribution of profits was not made at all.
Accordingly, A filed a criminal and civil suit against Kim Seong-myeon, and it is known that a police investigation is currently underway.
In particular, Kim Seong-myeon is attracting attention by appearing in the SBS entertainment program ‘Flaming Youth’, which is currently being broadcast. In this regard, an official from ‘Flaming Youth’ said to Maeil Business Daily Star Today, “It is a part of the private life of the performer, so it is currently being confirmed.”
Meanwhile, Kim Seong-myeon, who debuted as a vocalist for rock group Pinocchio in 1992, gained great popularity by releasing ‘Between Love and Friendship’, ‘You Lost’, and ‘The Glass Castle’.
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