"I don't know anything about virtual assets"... Kara Park Gyuri, testifies in ex-boyfriend's 'coin fraud charges' trial

[Financial News]  Group Kara member Park Gyuri appeared as a witness in the fraud charges trial of her ex-boyfriend, CEO Song Mo of Company P, emphasizing that while she participated in some business schedules, she was not involved in any illegal coin business or price manipulation crimes.

Park Gyuri appeared as a witness in the Pikacoin case trial held at the Seoul Southern District Court from 2 PM on the 16th and was questioned for about 3 hours.

Park Gyuri stated at the trial, "The Pika Project started in early 2020 based on a gallery business, and it was a time when I didn't have much work as a celebrity. I liked art, so I started working believing it was a legitimate art exhibition and joint purchase business."

In fact, Park Gyuri worked as a curator and public relations officer at the Pika Project for a year, planning and promoting exhibitions with artists like Jo Young-nam and Im Ha-ryong. She received a salary of about 40.67 million won and also signed a contract regarding the use of her portrait rights for promotional purposes. Later, when Song Ja-ho started the Pika Coin business, Park Gyuri was listed as the Chief Communication Officer (CCO) and advisor in the white paper.

Regarding this, Park Gyuri said, "I had no knowledge about virtual assets, and I didn't want my photo to be included in the Pika Token white paper."

She emphasized, "I have never participated in or benefited from illegal coin businesses," adding, "Regarding coin deposits and withdrawals, I mostly deposited and returned them immediately or transferred them at Song Ja-ho's request, and I never made a profit from coins."

In particular, in April 2021, Park Gyuri sold the Bitcoin she owned to invest 60 million won in Pika Token, but revealed in court that the coin was delisted two months later in June 2021, resulting in a total loss.

Park Gyuri also mentioned the brothers Lee Hee-jin and Lee Hee-moon, who are accused of conspiring with Song Ja-ho, known as the 'Cheongdam-dong stock rich,' stating, "I met with Lee Hee-jin's girlfriend and others about 3-4 times mainly for social gatherings. I met Lee Hee-moon 2-3 more times, but they never talked about business in front of me."

Park Gyuri had been publicly dating Song Mo since 2019, but they broke up in 2021. After Song Mo was embroiled in fraud charges, Park Gyuri, who worked as a curator and chief public relations officer for Company P, was investigated by the prosecution as a reference.

At the time, Park Gyuri's side told Maeil Business Star Today, "During the reference statement process, it was clearly explained that she did not participate in any illegal activities related to the coin business and did not gain any undue benefits," adding, "Park Gyuri has no connection to the art-linked coin business but will cooperate as much as possible with the related investigation."

Park Gyuri debuted as a child actress in 1995 and has been active as a member of the girl group Kara since 2007, releasing numerous hit songs such as 'Mister,' 'Lupin,' 'Jumping,' 'Step,' and 'Pretty Girl.' Kara will hold their sixth Japan tour 'KARASIA: MAGICAL WORLD' in Kobe, Japan, on August 2-3.

Meanwhile, Song Ja-ho was indicted in July 2023 for violating the Act on the Aggravated Punishment of Specific Economic Crimes (fraud), breach of trust, obstruction of business, and violation of the Capital Markets Act. He is accused of recruiting investors by claiming to invest in unverified artworks and manipulating the price of the virtual asset 'Pikacoin.' He is suspected of embezzling about 33.9 billion won with the Lee Hee-jin and Lee Hee-moon brothers.

The prosecution stated that there were over 14,000 victims.


hsg@fnnews.com Han Seung-gon Reporter