Kyun Mi-ri Speaks Out on 'Stock Manipulation' Allegations After 13 Years: "I Am Also a Victim"

Daughter's Wedding Approaching, Direct Explanation Issued

[Asia Economy Reporter Yoon Seul-gi] Actress Kyeon Mi-ri spoke out about the stock manipulation allegations surrounding her and her husband. Previously, Kyeon Mi-ri had remained silent on the related suspicions, but after singer and actor Lee Seung-gi announced his marriage to Kyeon Mi-ri's daughter, actress Lee Da-in, criticism toward the Kyeon Mi-ri family intensified, prompting her to directly state her position.

Kyeon Mi-ri's legal representative, the law firm Daeho, released an official statement on the 17th, saying, "The stock manipulation case has absolutely no connection to Kyeon Mi-ri and her husband," and "Mr. and Mrs. Kyeon Mi-ri are clear victims of a multi-level marketing fraud case, and they are not involved in the stock manipulation case carried out by parties related to the multi-level marketing fraud."

Actor Kyeon Miri / Photo by Asia Economy DB

Kyeon Mi-ri's husband, Mr. Lee, was sentenced to four years in prison in the first trial in 2018 on charges of manipulating the stock price of a KOSDAQ-listed company to gain tens of billions of won in profits. However, in the 2019 second trial, he was acquitted, and the Supreme Court's decision is currently pending.

Mr. Lee was also tried in the past on charges of embezzling funds from a paid-in capital increase of a KOSDAQ-registered company. Regarding this, the law firm Daeho stated, "Reports claiming that 26.6 billion won from the paid-in capital increase was taken and used to repay personal debts are not true," adding, "Kyeon Mi-ri's husband did borrow 500 million won but repaid it a few months later. Ultimately, there is no fact that he took company money to accumulate personal wealth."

Regarding suspicions that Kyeon Mi-ri's house in Hannam-dong, Yongsan-gu, Seoul, was purchased with criminal proceeds, they explained, "This house was built after Kyeon Mi-ri purchased the land at the end of 2006, and the source of funds for the house was income generated from Kyeon Mi-ri's over 30 years of acting activities at that time."

On this day, Kyeon Mi-ri also directly expressed her feelings on the matter for the first time in 13 years during an interview with The Fact. She said, "I never thought the negative image once attached to me would last this long," and added, "I feel so sorry and distressed that the aftermath is affecting Seung-gi, who is about to become a new family member."

Kyeon Mi-ri also mentioned the JU (JU) case, a multi-level marketing fraud case she was involved in the past. The JU case, which occurred in 2006, involved damages amounting to around 2 trillion won and was called "the largest fraud case since the founding of Korea."

Regarding this, Kyeon Mi-ri expressed her grievance, saying, "I am also a victim," and explained, "(The main culprit, Chairman Joo Soo-do) did not pay the cosmetic product fees on time and only gave small amounts like bait on the days I attended JU events." She added, "At first, I didn't know, but I was caught in the trap they set." She continued, "Foolishly, I was also deceived and extorted, but knowing the pain of those who suffered even more than me, I couldn't explain myself at the time."