KARA Gyuri’s ex-boyfriend arrested on charges of fraud & obstruction of justice
KARA Gyuri’s ex-boyfriend has been arrested on charges of fraud and obstruction of justice.
On July 21, the Seoul Southern District Court issued an arrest warrant against Gyuri’s ex-boyfriend Song Ja Ho (23 years old) and Sung Hae Joong (44 years old), who were co-CCOs of the cryptocurrency company PICA Coin. Following an investigation, they’ve been charged with fraud by violating the Capital Market Act and obstruction of business. Judge Yoo Hwan Woo stated the arrest warrants were due to a risk of an escape and destruction of evidence.
PICA Coin promotes investments in sculptures, allowing several buyers to jointly own one piece of artwork. Song Ja Ho stands accused of defrauding investors without securing artwork and manipulating market prices for unfair profits as well as interfering coin exchange trades.
Song Ja Ho is known as an art curator and the grandson of the former chairman of Dongwon Construction. He’s also known to be the ex-boyfriend of Gyuri, who was a previous curator and CCO for the PICA Coin project, and she was called in for questioning this past February. The PICA Coin cryptocurrency was officially unlisted from coin exchanges in June of 2021 after opening in January of the same year.