12:33 pm - 11/10/2015

the real reason ☆Spica's☆ 2015 comeback was cancelled

B2M Entertainment sues former manager Jeon for suspected embezzlement of company funds

A former manager at B2M Entertainment, surnamed Jeon, has been sued for alleged embezzlement of company funds. On 10 November, the Seoul Central District Prosecutor's Office Economic Crime Investigation Team Two issued an indictment without detention.

In 2013, during the course of B2M Entertainment artiste Heo Young Saeng's photobook contract negotiations, Jeon used his personal bank account to receive the money for personal use. In the past nine months, Jeon allegedly embezzled a total of 85.43 million won from B2M Entertainment artistes' performance fees over 8 occasions.

Jeon has since left B2M Entertainment.

B2M Entertainment's spokesman said, "We are indeed suing Jeon. We have confirmed that Jeon embezzled company funds and are thus suing him. All matters have been handed over to the police."

B2M Entertainment's stable of artists include Kim Kyu Jong, Nicole, SPICA, Eric Nam, et cetera.

[EDIT] More details from Soompi on the HYS incident: As the manager, he signed a contact with K Star Net and with Heo Young Saeng to produce a pictorial and to receive half of the proceeds in return. Mr. Jun received the payment through his personal account and spent it on his personal use.

sources: Sports Donga, Turn Up Speaker

even if he pays back the money and more, he won't be able to make up for the opportunities Spica, Eric, Nicole etc lost during this year. Spica were so excited about their comeback and then this had to happen... I'M SO MAD
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iznanassi 10th-Nov-2015 04:53 am (UTC)
I'm so upset...Nicole didn't leave KARA for this...and Spica...omg.
rightclick5ave 10th-Nov-2015 04:59 am (UTC)
I'm so angry and upset... I was already upset at B2M for delaying Spica's comeback before, but knowing that this one person single-handedly caused it to be cancelled.. SO MAD. how the fuck can anyone think it's okay to steal already under-paid artistes' hard-earned income, or be stupid enough to think they'd get away with it?

ugh, just thinking about all the little things they alluded to about the comeback delay but couldn't elaborate on makes me so sad. imagine how frustrated they must feel..
krunkri 10th-Nov-2015 04:57 am (UTC)
what the fuck
mad_nux 10th-Nov-2015 05:03 am (UTC)
fuck him I hope he dies..after he pays back the money ofc
lazmy 10th-Nov-2015 05:18 am (UTC)
oh no :(
andshehopes 10th-Nov-2015 05:37 am (UTC)
this is terrible :(
smilez4you 10th-Nov-2015 05:39 am (UTC)
disgusting
timetobegin 10th-Nov-2015 06:21 am (UTC)
That is horrible. Let's hope he finds a way to pay that money back asap!
kicking_tenshi 10th-Nov-2015 07:00 am (UTC)
wtf. That's really messed up. It's even worse since he's at a smaller company where the money he embezzles has a direct impact on the performers' careers not just everyone's paycheck - which is already bad enough considering how much non-top-tier (sry) artists actually make.
redgreendress 10th-Nov-2015 07:22 am (UTC)
Well fuck this sucks. I feel sorry for his family, they must be going through hell right now from what I know of how embezzlement scandals usually play out in East Asia... As a fan I'm really sad and angry for SPICA, they've managed to stay together a long time in this shitty industry with just scraps of appreciation for their talent, they deserved so much better than this. I hope they leave and get picked up by a label that has their shit together. Idk how this works, if their contract still stands after they get ripped off like this, how hard it is to sue their way out but I hope all the artists flee this sinking ship...
rightclick5ave 10th-Nov-2015 02:38 pm (UTC)
during the Spica.S/Boa-less period I know I and some other fans who were genuinely worried Boa would leave the group... I'm SO glad our fears were unfounded. she never fails to bring up the other four when she's doing solo stuff like Masked Singer and when she had a solo university festival perf. I think they recognise that they're all very talented individuals, but they also shine the most when they're together as 5.

imo they don't seem like they want to leave B2M..? for all their shitty management and promotion skills, B2M gives them a lot of personal freedom, which I'd imagine is pretty important for them. idk man.. the CJ E&M merger thing will hopefully mean more budget for Spica next year.
luvotomize 10th-Nov-2015 07:33 am (UTC)
wtf!! my girls ://///
benihime99 10th-Nov-2015 07:44 am (UTC)
Can Rainbow Bridge adopt them?
rightclick5ave 10th-Nov-2015 02:39 pm (UTC)
but can RBW give them as much personal freedom as B2M? :( I think RBW is doing things right with Mamamoo, but their schedules are REALLY packed as well.. but if there was an agency I think would be a great fit for Spica it'd be RBW too
hurtmybones 10th-Nov-2015 07:53 am (UTC)
I always stan for artists in flop companies #saveSPICA2k15
tree_star123 10th-Nov-2015 08:01 am (UTC)
can't believe a manager is able to be in charge of so much money... like for a company there should be no way for someone to handle thru their personal bank account. this shows how weakly structured this company is.
lu_ag 10th-Nov-2015 08:33 am (UTC)

WHOS GONNA SAVE KPOP NOW?

rightclick5ave 10th-Nov-2015 02:40 pm (UTC)
for now it's gonna be Nine Muses, don't worry!
kimbafierce 10th-Nov-2015 08:42 am (UTC)
How bad are B2M in managing their money tho for him to be able to steal 85.43 million without them noticing right away..
rightclick5ave 10th-Nov-2015 02:40 pm (UTC)
mfte. NINE MONTHS... jesus. I always knew they were incompetent but not to this level
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