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This week, Hwang admitted to embezzling funds from her wholly owned firm. She embezzled round $3 million USD in whole over years, utilizing, $2.86 million to put money into cryptocurrency. Her lawyer instructed the court docket “The defendant invested in (cryptocurrency) cash in a bid to develop her firm, as a company can’t personal cash, she briefly did so below her personal identify, resulting in the crime.” The lawyer mentioned the corporate’s losses have partially been lined by promoting the cryptocurrency, including the remaining might be repaid by promoting off actual property.
By admitting to embezzling “on behalf of her firm,” appears to be odd protection. Company funds, even when she is the only proprietor, usually are not her funds however firm property to satisfy firm obligations. It additionally might result in additional expenses if her withdrawals of the funds weren’t claimed as taxable earnings or dividends on her private tax filings.
It looks like each week there’s a new celeb scandal that has extra twists than a standard k-drama.
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