Sued for Fraud, Lee Cheonsu Says "Misunderstanding Resolved with Complainant...Amicable Settlement"

"An Incident Stemming from a Misunderstanding by Mr. A"

Lee Cheonsu, who had been sued on fraud charges, has announced that he has reached a settlement with the complainant.

On the 7th, Lee Cheonsu's agency DH Entertainment issued an official statement saying, "This incident stemmed from a misunderstanding by the complainant, Mr. A, and today Lee Cheonsu and Mr. A have reached an amicable agreement."

The agency further stated, "Upon re-examining the facts, it was confirmed that the complainant had misunderstood certain details and acknowledged that Lee Cheonsu had no intent to commit fraud or deception. As a result, Mr. A no longer wishes to pursue investigation or punishment and has officially decided to withdraw the complaint."

Former National Soccer Player Lee Cheonsu. Photo by Yonhap News

DH Entertainment added, "Lee Cheonsu and Mr. A have understood each other and brought this matter to a smooth conclusion, recognizing it as a misunderstanding. Now that the issue has been resolved, we hope there will be no further speculation or rumors."

Previously, the Jeju Provincial Police Agency announced that Lee Cheonsu was under investigation for alleged violation of the Act on the Aggravated Punishment of Specific Economic Crimes (fraud). Lee Cheonsu was accused of borrowing a total of 130 million won from Mr. A on several occasions since April 2021 and failing to repay it. Mr. A claimed that Lee Cheonsu had promised to repay the borrowed money by 2023, but had lost contact with him since the fall of 2021.

Mr. A also alleged that Lee Cheonsu encouraged him to invest through an acquaintance, leading him to invest 500 million won, but he did not receive either the principal or the promised returns. In response, Lee Cheonsu's side argued, "It is true that money was received, but Mr. A gave it with no strings attached, and there was no intent to deceive, so it does not constitute fraud." Regarding the foreign exchange futures investment solicitation, they stated that the claim was "groundless."

Lee Cheonsu was a key player in leading South Korea to the semifinals at the 2002 Korea-Japan World Cup and transitioned to a broadcasting career after retiring in 2015. He currently operates a YouTube channel called "Richunsu," which has 780,000 subscribers.