Yuri Holdings, the company involved in recent claims surrounding BIGBANG’s Seungri, has released an official statement denying claims that they pursued prostitution services for business investors.

On February 26, SBS funE released text messages from December 2015 that are said to be between Seungri, CEO Yoo of Yuri Holdings (an investment company Seungri was preparing to establish), and an employee. According to the report, the content of the conversation shared in the group chat implies that the participants were discussing hiring prostitutes for foreign business investors.

In response, YG Entertainment has released an official statement denying all allegations and claiming that the text messages were fabricated, along with an announcement that they will take legal action regarding this issue. The Seoul Police Department has launched an investigation into the claims.

Yuri Holdings, the company named in the claims, has now stepped forward to deny the allegations that have been made. Their official statement reads as follows:

Recently, Yuri Holdings has been in the news, since the Burning Sun incident.

Firstly, we take responsibility for the issue as one of the companies holding stocks in Burning Sun.

However, we feel the need to release our official statement regarding the facts surrounding Yuri Holdings as we can no longer sit back and watch articles written on claims and suspicions.

The text messages that have become an issue are all completely false, and we believe someone with malicious intent towards Seungri and our company has fabricated these text messages as a grudge and sent them to reporters. This is fake news that has been published without being confirmed.

Not only do we not have any foreign shareholders in our company, but the text messages were released on a newly-created image based on content submitted by a tip rather than actual screenshots of the conversations themselves. We cannot stay silent on the matter anymore and have decided to give our statement.

We plan to request an investigation into the individual who fabricated the text messages and submitted them to reporters, and we will take legal action to reveal the truth.

Executive Director Lee Hong Gyu

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The Seoul Police Department has launched an investigation into BIGBANG’s Seungri regarding claims that he offered escort services of a sexual nature to business investors.

On February 26, a source from the Seoul Police Department stated, “We have launched an investigation into the escort service claims that have been reported on by the media.” The police will look into the matter closely, and will be drafting a list of individuals named in the related text messages. Seungri is now a person of interest in the investigation.

Earlier in the day, SBS funE released text messages from December 2015 exchanged between Seungri, CEO Yoo of Yuri Holdings (an investment company Seungri was preparing to establish), and an employee. Seungri is seen to be giving orders to plan a meeting at a club in Gangnam to meet with foreign investors. The content of the text messages seem to suggest that the people involved in the group chat were discussing offering escort services to the investors.

YG Entertainment has released a statement denying all allegations, stating, “We have spoken with Seungri, and he has stated that the released text messages were fabricated and are not true.” They stated that they plan to take legal action on the issue.

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