"Former Agent's CEO Who Claimed Exclusive Rights to Son Heung-min's Advertising and Portraits Sued for Fraud"

[The Financial News] The former CEO of footballer Son Heung-min's agency has been sued on charges of fraud after allegedly presenting false documents to receive a large acquisition payment.
According to police on the 8th, Mr. A, the head of a content production company, recently filed a fraud complaint against Mr. B, the former CEO of Son Heung-min's agency, at Gangnam Police Station. Mr. A claimed, "Of the 5.7 billion won paid during the company acquisition process, 1.1 billion won has not been returned."
According to the complaint, in 2019, Mr. B presented a contract to Mr. A stating that he held exclusive rights to Son Heung-min's advertising and portrait rights in order to sell the company. Trusting this, Mr. A signed a stock purchase agreement worth approximately 11.8 billion won and transferred the first payment of about 5.7 billion won. However, Son Heung-min's side later clarified that no such exclusive contract existed, causing the deal to fall apart.
As the controversy grew, both parties canceled the contract in December of the same year. Mr. A received a partial refund, but claims that about 1.1 billion won has yet to be returned. The complaint also references a first-instance ruling in a related civil lawsuit that recognized Mr. B's deceptive conduct.
Gangnam Police Station plans to summon Mr. A and Mr. B soon to investigate the overall fraud allegations.
yesji@fnnews.com Kim Ye-ji Reporter