MC Mong Arrest Warrant Sought

Police have applied for an arrest warrant for Cha Ga-won, chairman of Piaak Group and CEO of entertainment agency One Hundred, who is accused of fraud totaling 30 billion won. The Seoul Metropolitan Police Agency's Financial Crime Investigation Unit recently applied for an arrest warrant for CEO Cha on charges of fraud under the Act on Special Cases Concerning the Punishment of Specific Economic Crimes, and the prosecution is currently reviewing whether to request the warrant.

Police suspect that CEO Cha proposed a business utilizing the intellectual property (IP) of artists affiliated with his entertainment agency to Nomus Co., Ltd., signed a contract, and then received an advance payment of 24.2 billion won but failed to fulfill the actual business, according to reports. Furthermore, allegations have been raised that he entered into a double contract with Nomus while concealing the fact that another contract with a different company had not yet terminated.

In addition, CEO Cha is also accused of receiving a deposit of 5.4 billion won by promising to enter into a lease agreement for mutually owned houses with an acquaintance, but then failing to fulfill his end of the contract.

Regarding the police's application for an arrest warrant, CEO Cha's side stated, "It is deeply regrettable that an arrest warrant has been applied for when illegality has been confirmed during the search and seizure process, and a preliminary appeal has even been filed." They also announced plans to file a petition with the National Human Rights Commission against the investigation team leader and investigators, citing human rights violations during the investigation.

One Hundred is an entertainment agency jointly founded by CEO Cha and singer MC Mong in 2023. In recent months, the company has been embroiled in various controversies, including exclusive contract disputes with affiliated artists and allegations of unpaid wages to employees due to worsening management. MC Mong left the company in June of last year after being excluded from all business operations.