When the Burning Sun scandal came under the spotlight, Big Bang's Seungri claimed that he was only part of the promotions and had no involvement in managing or running it. But a South Korean news agency, Yonhap News reported on Sunday about the newly found evidence which claimed the opposite.
As per the news agency, Burning Sun's shareholders indicates that Yuri Holdings, which was established by Yoo In Suk and Seungri in 2016, held 40% of the stocks at 'Burning Sun' as of November 2017 but currently it has only 20% of the shares.
However, Yuri Holdings claimed that as per one of the shareholders, Cheonwon Industry Co., Ltd, Madam Lin's investment documents were not ready at the time. "We signed a funding contract with her and contracted to give her the 20 percent at a later time. Seungri did not know of the exact percentages at the time of the contract," they added.
Two months ago the 28-year-old singer posted a statement on his Instagram account and mentioned that he was not involved in the operation or managing the controversial Burning Sun night club, but in charge of promoting it.
It should be noted that the mentioned documents showed that Burning Sun was capitalized at 50 million won and Yuri Holdings had 40 percent of the total shares.
The form actually shows the ownership ratio along with the shareholders' sale. Soompi reported that as per Burning Sun source the deal was signed at Le MÃ©ridien Hotel and senior executives from Yuri Holdings also attended the meeting.
Yonhap News also found Kakao Talk messages in which the singer talked about the work at Burning Sun club and proposed agendas starting from checking IDs to strengthening the staff's sex education. This evidence showed whatever the k-pop star claimed that was not true.