Actor Lee Jung Jae who recently made headlines for the sequel of his famous series on Netflix, Squid Games, has been accused of serious fraud alongside the ex-CEO of WYSIWYG Studios, Park In Gyu. The accusations are made by the CEO of RaemongRaein, the man responsible for the production house of Song Joon-Ki's hit drama Reborn Rich.

Fraud allegations against Lee Jung Jae and Park In Gyu

A formal complaint against the actor and the former CEO was filed which is currently being investigated by the Seoul Gangnam Police Station since June, according to the reports. The complaint for fraud was made by Kim Dong Rae who is the CEO of RaemongRaein under the Specific Economic Crimes Act.

According to Kim’s allegations, Park and Lee made false claims where they convinced the former to involve the duo as major shareholders and this will result in his company’s growth. Kim, therefore, transferred his shares to them. However, he accused Lee and Park of trying to remove him from the company’s management.

It was agreed to form a joint management in the contract with Kim but the two did not uphold the deal on their end. The complaint claimed that they intended to take control of the company and its financial resources. The document also accused Park and Lee of corporate raiding as they wanted to use RaemongRaein’s funds to acquire Chorokbaem Media.

Lee Jung Jae refutes allegations

Lee Jung Jae’s team has denied all allegations and stated there was no breach of the contract which only mentioned the transfer of management rights which were agreed upon with mutual consent. The actor’s representatives established there was little contact between them and Kim before and after the signing of the contract. Lee has countersued the CEO for making false allegations of fraud. The police station in-charge has questioned Kim regarding the case and will call Lee and the former CEO next.

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