Jeju: Actress Hwang Jung-eum admitted Thursday to embezzling over 4 billion won (US$2.86 million) from her company to invest in cryptocurrency during a court hearing. Hwang has been indicted with embezzling 4.34 billion won from the company that she wholly owns in 2022. Of the embezzled amount, she invested 4.2 billion won in cryptocurrency.

According to Yonhap News Agency, Hwang’s side admitted to all charges during the case’s first hearing at the Jeju District Court. “The defendant invested in (cryptocurrency) coins in a bid to grow her company,” her lawyer said. “As a corporation cannot own coins, she temporarily did so under her own name, leading to the crime.”

The lawyer further explained that the company’s losses have partially been covered by selling the cryptocurrency, adding that the rest will be repaid by selling off real estate. Hwang debuted in 2002 as a member of the idol group Sugar before leaving the group two years later to pursue a career in acting. She has appeared in various popular TV series, including “Kill Me, Heal Me” and “She was Pretty.”