Jeon Hong-joon, CEO of the recording company ATTRAKT, has been cleared of the embezzlement charges brought against him by the former members of FIFTY FIFTY, signalling a significant shift in the prolonged legal ordeal he has faced.
As of March 11, a representative of the company announced, “We recently received a notice from the Gangnam Police Station in Seoul stating that they decided not to transfer the case of breach of trust filed by former FIFTY FIFTY members Saena, Sio, and Aran [with no charges].”
They also added, “We will hold those who deceived the members, who do not understand the accounting principles of corporate funds, and encouraged them to file a complaint accountable for their actions of tampering (contacting before the exclusive contract expires) until the end.”
In August of last year, the law firm Barun, representing the band’s former members Saena, Sio, and Aran, officially announced that they filed a complaint against the CEO for “violating the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (breach of trust).” At the time, the members claimed that the CEO unfairly used the group’s profits to repay the advance payment debt of StarCrew Ent, an entertainment company that he was associated with previously.
Despite their accusations, the police investigation has ultimately concluded with Hong-joon’s absolution, citing a lack of substantial evidence to support the claims. Consequently, the case has been dropped, marking a significant blow to the three girls.
As for the K-Pop band, the quartet debuted in November 2022, and their song ‘Cupid’ quickly became an international hit. The following year, all the members filed an application to terminate their exclusive contracts with ATTRAKT. Amid legal battles, one of the members, Keena, came back to the agency, and the company filed civil suits against the remaining three members. Now, the group is gearing up to make a comeback in June/July with Keena and additional new members.
