Lee Soo-man’s House
One of Lee Soo-man’s asset had been revealed. In May 2011, it was reported from a Korean newspaper that Lee Soo-man just bought a house worth $2.8 million USD in Los Angeles in cash! According to the news, the house was built in 1976 on approximately 29.890 square feet. For the house building only, it is around 4,366 square feet with five bedrooms, and four to five bathrooms. It was completed by a fancy swimming pool and the extra facilities inside.
The news said that Lee Soo-man bought this house for his daughter, so she could attend one of the famous private school in Los Angeles. He has already lived in a condo before that’s also located in Los Angeles to prepare his official living there. It’s not a strange news since it’s Lee Soo-man.
Corruption Charges and Wanted by Interpol
The case was stared to happen around 17 years ago, which being searched and dig up by fans to look for the untold truth. In 2002, Lee Soo-man and Suh Se-won were allegedly fled the country after they were being key suspects in entertainment industry’s corruption investigation. Lee Soo-man was charged for embezzling approximately $1 million from company funds and bribery.
In order to bring them back, Seoul District Public Prosecutor’s Office requested Interpol to put them in the wanted list to force them and suspended their passport through the Ministry of Foreign Affairs and Trade. In 2003, when he came back, he immediately denied all the accusation while Suh Se-won admitted some of the allegations and apologized.
Even it needs months to find him, after he came back he could easily sent home because SM Lawyers might be provided a large amount of denying all accusation. The results went out in September 2004, the court proved him guilty and sentenced for two years in prison and three years of probation. It’s only need one day to free the Lee Soo-man! Many rumors were coming towards the issue.
Suspicious Internal Transaction
On May 29, news outlet the Korea Economy Daily reported that a xompany named Like Planning has been receiving an annual payment of over 10 billion won from SM Entertainment. Like Planning was created by Lee Soo-man in 1997, and he owned 100 percent of Like Planning shares.
SM’s payments to Like Planning have been increased every year, which almost the same amount as SM’s total business profits. Due to this phenomenon, many people accused the companies to be engaging in an activity called internal transactions, which purpose to fill Lee Soo-man’s pocket.
That’s all about Lee Soo-man from his personal side to his business issues. Besides all the issues that he got, he is the lead of the Korean Wave since 90s and we should thank him that we could see SM idols like now. Do you have any thoughts to Lee Soo-man? Leave it on the comment section below!
