Ahn Sung Il, the CEO of The Givers, has been found guilty of embezzling funds from ATTRAKT, the agency of K-pop group FIFTY FIFTY. The Seoul Eastern District Court has approved the seizure of the copyright fee bond from Ahn Sung Il, which includes copyright fees for FIFTY FIFTY’s debut albums. ATTRAKT has stated that this is the first ruling of misconduct against Ahn Sung Il and that they will continue to apply for the seizure of other funds that he embezzled. Read More – Blackpink’s Jennie and Jisoo Establish One-Person Agencies
The case began in June when FIFTY FIFTY filed a lawsuit against ATTRAKT, alleging that the agency had withheld profits from them and failed to provide them with adequate support. The group also suspended their activities.
ATTRAKT then filed a counter-suit against FIFTY FIFTY, alleging that the group had breached their contract and caused financial losses to the agency. ATTRAKT also accused The Givers, a company owned by Ahn Sung Il, of embezzling funds from them.
The court’s ruling in favor of ATTRAKT is a significant development in the case. It confirms that Ahn Sung Il did indeed embezzle funds from the agency and that FIFTY FIFTY is entitled to compensation.
The ruling is also a victory for other K-pop artists who have been exploited by their agencies. It shows that the courts are willing to hold agencies accountable for their actions and that artists have rights.
