Man Loses Money on Lee Min Ho Photo Album; Can’t Pay Debtor
A celebrity management president has been accused of fraud charges which allegedly involves Lee Min Ho’s photographs. The man had allegedly asked a woman to invest in the production of a photo album and the DVD’s of the Korean star and couldn’t pay her back after the deal was done. The incident occurred in December 2013 and the man has been pulled into the courts for the incident.
The man whose surname is Kim is around 48 years old. He got involved into the incident when he asked a woman to invest money into his project, which involved publishing Lee Min Ho’s photo album of around hundred portraits and two DVD’s. The album was going to feature Lee Min Ho’s likeness in great detail. Unfortunately, for the man, the album didn’t do quite well as expected and he was labelled a swindler.
Kim had a legal contract with Lee’s management company, Starhaus Entertainment. His contract involved payment of 450 million won to the company. This comes out to about 390 thousand dollars after conversion. The woman allegedly invested 600 million won after Kim told her about the project and assured her that the project will generate big money. 600 million won comes out to around 520 thousand dollars.
Unfortunately, for the man, the project never took off and he had to face losses on the project. He claims that he cannot pay the woman back because he has no money. The woman was obviously irked that the man had refused to pay her and went to the courts in October. The man claimed that the album had done poorly in the market and had generated sales amounting to only 600 million won, thereby not accruing any profit.
The matter is in court now. Korea times reported on the news.
Photo Source: Facebook / Lee Min Ho