Former Agent Who Embezzled Ryu Hyun-jin’s Endorsement Fee Receives Reduced Sentence on Appeal

[Financial News] A former agent accused of embezzling part of baseball player Ryu Hyun-jin’s (37, Hanwha Eagles) endorsement fee for a ramen commercial has received a reduced sentence on appeal.
On the 6th, the Seoul Southern District Court’s Criminal Appellate Division 3-2 (Judges Cho Gyu-seol, Yoo Hwan-woo, and Lim Sun-ji) overturned the original sentence of two years and six months in prison for Jeon (50), who was charged with fraud and other offenses, and instead handed down a two-year prison sentence suspended for three years. Jeon was also ordered to complete 200 hours of community service.
The court stated, "The defendant has shown deep remorse for his actions, and during the appeal, he reached an additional settlement with the victim. All victims are now requesting leniency for the defendant."
Jeon was brought to trial on charges of receiving $850,000 as an agent for an endorsement contract between Ottogi and Ryu Hyun-jin in 2013, but deceiving Ryu by claiming the contract was for $700,000 and pocketing the difference.
The amount Jeon took was equivalent to about 180 million won at the exchange rate at the time.
Jeon was also deeply involved when Ryu Hyun-jin moved to Major League Baseball (MLB) in 2013, but reportedly did not act as Ryu’s agent after the Ottogi endorsement contract.
Previously, the first trial court sentenced Jeon to two years and six months in prison, but both the prosecution and the defendant appealed the verdict.
welcome@fnnews.com Jang Yoo-ha Reporter