News: Bae Yong-joon of “Winter Sonata” Fame Freed of Fraud Charge .

It didn’t constitute a fraud case as Mr. Bae was not the person directly involved in the signing at the time and even the accuser himself was not present at the signing

source: koreabizwire

SEOUL, Dec. 12 (Korea Bizwire) — The criminal prosecutors of the Seoul Northern District Public Prosecutor’s Office said on December 11 that no charge will be made against Bae Yong-joon, a Korean actor, who was accused of fraud for selling red ginseng under an exclusive basis.

The plaintiff who owns a company selling dietary supplement products claimed that he lost 2.2 billion won (about US$2 million) from the transaction with Mr. Bae after signing a contract in 2009 with Bae’s company to delivery red ginseng products to Japan. According to the plaintiff, Mr. Bae and his company did not deliver as promised after receiving the money.

Bae’s company was unable to pay back the money after failing to increase capital in 2010 and the contract was cancelled in April in the same year. In the same month, the company was delisted from the stock market.

An official with the prosecutors’ office said, “It didn’t constitute a fraud case as Mr. Bae was not the person directly involved in the signing at the time and even the accuser himself was not present at the signing.” The plaintiff, however, appealed the case with the Seoul Supreme Prosecutors’ Office.

By Celena Jung (celena@koreabizwire.com)