TV personality denies W1.3 billion won fraud allegation

Jul 30, 2019

TV personality Lee Sang-min denied the fraud allegations raised against him.

TV personality Lee Sang-min denied Tuesday that he had swindled 1.3 billion won ($1.1 million) from a man with whom he had a business deal ― 400 million won for arranging loans and an additional 870 million won for promoting the man's company in 2014.

The man reportedly sued Lee at the Seoul Central District Court Tuesday. The man had been indicted in 2016 for fraud and dereliction of duty after failing to pay his employees on time and compensate for the debts.

Lee said on his Instagram he would countersue the man for defamation and false accusation. He said the truth would be uncovered following the investigation, briefly explaining the incident.

A few years ago, I clinched a contract to model for a construction firm," he wrote. "I faithfully fulfilled the contract, appearing on a sponsored TV show. But the man did not pay. He seemingly wants to take the model fee back through the lawsuit, but I have no reason to return the money I deserve."

Dmost Entertainment, representing Lee, also released an official statement Wednesday, saying: "The accuser's claims are all groundless."

Lee debuted with popular band Roo'ra in 1993. He is said to have hundreds of millions of won in debts, but has been repaying them instead of declaring bankruptcy. He now features in SBS reality show "My Little Old Boy."