With new updates on the Burning Sun assault controversy and YG tax evasion allegations emerging recently, it could get overlooked that MBC News recently had this whole segment questioning Seungri‘s claimed level of involvement with Burning Sun. However, perhaps that’s for the best as I don’t believe they showed anything that contradicts either Seungri’s or YG’s statements on the matter.
The statement of assets, sent by Burning Sun’s finance team to the board members, shows the initial investment money totaling about 2.5 billion won (approximately $2.2 million). Of this amount, Seungri invested 225 million won (approximately $198,600). The company’s articles of association from 2017 also show Seungri listed as a “corporate promoter,” a phrase used to refer to someone who worked on the formation of the company. In addition, he is listed as one of the four executive directors along with Lee Sung Hyun, Lee Moon Ho, and an individual referred to as Kang. Burning Sun’s list of shareholders reveals that Yuri Holdings, which Seungri was a co-CEO of, held 20 percent of shares. A source of “Burning Sun” commented, “It is certain that Seungri was definitely an intial investor, and it appears that this was reported as it was shared with major shareholders and people of [major shareholder] Cheonwon Inc.”
I’m not sure exactly the point of this, honestly.
Perhaps I’m missing something, but we already knew he invested in the club through Yuri Holdings and that he was given an executive title and promoted the club, but he basically claimed he didn’t run the day-to-day, and the report didn’t show otherwise.
I guess it’s good to get further detail, but the report ends up appearing to mainly be a nice reminder that even as the news comes in hot and heavy that it’s important to keep your head. The thing to actually watch for is whether anybody can show Seungri was involved in running the club, which would make it difficult for him to deny that he was ignorant of the worst elements of the story.
Regardless, as I said before (and as he’s previously claimed he would), he’s gonna have to take responsibility for whatever mess has gone down at his clubs either because that’s how ownership goes. But it would just make it morally significantly worse if he was actually involved in running the show.
That said, the report did make some news in an aside, which stated that authorities were also investigating Seungri and Burning Sun for their roles in alleged tax evasion.
The police and tax authorities are investigating the level of Seungri’s involvement in Burning Sun’s attempt for tax evasion.
Again man, people really shouldn’t fuck with the government’s money, as they definitely care about that. So many updates on tax evasion, but not much about the unchallenged texts showing how Burning Sun VIPs were being provided inebriated women and what not. Sorta telling.
Additionally, it was announced that Seungri will be enlisting in the military on March 25, though this is unlikely to impact any investigation much going forward.