|Lisa of K-pop girl band BLACKPINK.|
By Park Si-soo
BLACKPINK's former manager swindled band member LISA out of nearly 1 billion won ($816,100).
YG Entertainment revealed this on Tuesday, saying the dispute had been "settled" because the ex-manager had returned "part" of the money and presented LISA with a detailed compensation plan for the rest. Neither the musician nor YG would make it a legal issue, the label said.
According to reports, the ex-manager has had close relations with band members since their debut in 2016. By taking advantage of this, he siphoned off LISA's money, which she had asked him to invest in real estate.
He reportedly spent the money gambling. He quit YG after it became an issue internally.
"An extremely inappropriate incident took place between an artist and a manager," YG said in a statement. "We will tighten rules and supervision to prevent the same thing from happening again."