Fran (frantastic) wrote in omonatheydidnt,

Rain and others sued for 1.8 million USD by fashion company investor

Rain is once again on the chopping block as he has been sued for an issue in the past. An investor named ‘Lee’ has filed against the singer as well as 3 others who were part of J.Tune Creative, requesting 2 billion KRW (approximately $1.8 million USD)

For those of you who aren’t familiar with the issue, Rain and the executives of the company he headed at the time, J.Tune Creative, were sued back in 2010 for embezzling the funds of this said investor, after receiving investment for a fashion company. Rain was found not guilty during the initial court ruling, while the other executives in the lawsuit were found guilty of some of their charges. However, in 2011, the court ruled that a re-investigation is needed and opened up the case again.

This lawsuit comes after the case was opened up for re-investigation, and investor Lee is asking for his initial investment sum of 2 billion KRW to be returned to him, stating through his lawsuit, “In January 2008, J.Tune Creative’s director ‘Kang’ approached me because he was seeking advice for the fashion industry. He suggested that we run the fashion company together and trust in Rain’s popularity. I invested 2 billion KRW.”

He also commented, “After receiving the proposal from J. Tune Creative, which Rain was the CEO, I invested 2 billion KRW [into the fashion company], but afterwards, 50% of the total business capital (which was allegedly around 5 billion KRW) was issued to Rain, stating model fees as the reason.”

With the establishment of this alleged fashion company, Rain was going to serve as the endorsement model, and J.Tune Creative cited that his fee was 2.25 billion KRW as they transferred it to Rain’s account.

Lee also stated, “I was told that Rain was also investing 1 billion KRW (approximately $900,000 USD) of his own money, and that J.Tune Creative was putting in 1.5 billion KRW (approximately $1.3 million USD) into this [fashion company], so I believed the funds were stable. Being tricked by this, I invested 2 billion KRW… However, later I found that the only money actually invested into the company was the 2 billion KRW that I put in.”

“The [fashion company] was closed within 2 years of opening… Reimburse my 2 billion KRW that I was tricked into investing by Rain and the others, who didn’t even intend on running the [fashion company],” Lee commented.

Lee further stressed that Rain and the others never managed the fashion company properly at all, and instead, falsely disguised it as if the company was working actively and then tried to sell off the company shares. Lee insists that the more than half the alleged 5 billion KRW of the company capital was embezzled by Rain as it was transferred to his own account stating model fees even before the fashion company was even launched.

source: Star News via Nate, eToday, mbn, New Daily + akp
Tags: court / legal issues, rain

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