SM Entertainment's Lee Soo Man is currently under fire for 'suspicious internal transactions.'
On May 29, reports alleged Lee Soo Man holds 100% of the stock in a ghost company 'Like Plan'. The SM Entertainment head stands accused of funneling 44% of the profits from the music label into the ghost company since 2014 and paying himself 10 billion Won ($8,367,500.00 USD) a year.
Though 'Like Plan' went public in 2000, dividends from the company have never been paid out despite reporting profits that rival SM Entertainment.
In related news, SM Entertainment stocks have reportedly dropped by 28.01% this past year.
CR: Allkpop
original post: here
1. [+1,994, -122]
All the articles about YG have disappeared from Naver...
2. [+1,544, -10]
It would be nice if all entertainment agencies get investigated in the morning
3. [+1,204, -129]
So can we get JYP's Salvation Sect next?
4. [+449, -10]
S: Fugitive (seulgeumeoni) M: Money?
5. [+231, -3]
Hul... amazing
6. [+189, -1]
You need to dig in deeper in there too. You can see just how stron YG is right now right? But SM is no joke either. Anyone who's been a fan of SM artists know right? There were so many bad talks about the company back then. Just dig in deeper, they aren't clean either
7. [+158, -3]
If you're gonna expose SM, do it more~~ I bet that if you search there, it won't be clean either~~
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