Artist Company, the talent agency whose largest shareholder is actor Lee Jung-jae, has filed a criminal complaint with police against former executives and employees, accusing them of causing the company hundreds of millions of won in losses.
According to a regulatory filing on the Financial Supervisory Service's electronic disclosure system on the 23rd, Artist Company submitted the complaint the previous day to the Gangnam Police Station in Seoul against five people, including a former unregistered executive surnamed Lee, on charges of breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes.
The company put the alleged losses at 681.76 million won, equivalent to 1.49% of its roughly 45.8 billion won in shareholders' equity as of the end of last year.
Artist Company first disclosed the matter on Sept. 17 and has since investigated the facts through a law firm. The complaint was filed based on the findings of that review, according to the company.
Artist Company was founded in 2016 by actors Lee Jung-jae and Jung Woo-sung. Lee is now the largest shareholder with a 27.10% stake. Jung, who stepped down as an inside director earlier this month, holds 10.99%. The agency's roster includes Yum Jung-ah, Lim Ji-yeon and Kim Hye-yoon.