Fraud Allegation Filed Against Youngtak's Agency CEO: "Full Refund of Investment... Strong Response"

Singer Yeongtak.

[Asia Economy Reporter Lee Seung-jin] The CEO of singer Youngtak's agency has been sued on charges of fraud related to a performance contract.

Performance planning company Dion Communication (hereinafter DionCom) announced on the 4th, "We have filed a complaint with the Seoul Seocho Police Station against Mr. A, the CEO of Milagro, Youngtak's agency, on charges of fraud."

DionCom also filed an injunction with the Seoul Eastern District Court to prevent Milagro from signing concert contracts with other performance planning companies.

DionCom claimed that Mr. A promised to grant the right of first negotiation related to Youngtak's concert, leading them to invest 230 million won last year, but later unilaterally declared the contract invalid.

Milagro, in a statement, refuted, "It is true that we discussed the right of first negotiation for the performance, but for various reasons, we decided not to proceed with the work and ended the business negotiations with DionCom."

They added, "We returned the full investment amount and received a repayment confirmation. All business processes were based on the contract drafted with DionCom," and stated, "We will strongly respond legally to the unilateral false claims to reveal the truth."