[ASKKPOP] Former 4men member Kim Young Jae sentenced to two years in prison for embezzlement
Seoul Central District Courtsentenced former4menmemberKim Young Jaeto two years in prison for failing to pay back the 890 million KRW (~$774,000 USD) that he had borrowed from five acquaintances.
Kim Young Jae was prosecuted for embezzling around 890 millions KRW from five investors, telling them that the money will go towards an "auto loan business," and that he will repay the principal along with 20% interest. Prosecution haddemanded six years of imprisonmentat Kim Young Jae's final trial.
The singer was able to reach an agreement with four of the five investors; however, he was unable to compromise with the fifth investor from whom he had borrowed the largest sum of money.