This business man is being indicted for swindling over $500,000 by creating a fake meet and great scam to meet K-pop boy band BTS.
The man whose last name has only been released, Choi is being accused of fraud by another firm for offering a meet and greet opportunity with the Korean heartthrobs.
The firm suing Choi said that they paid him over $550,000 to cover the expenses of a fan meet and greet and BTS promotional merchandise that could be sold in China.
But why did he start scamming people for meet and greet money?
As it turns out Choi didn’t just randomly pick BTS as the fake meet and greet artists.
Choi operates a fashion manufacturing firm. His fashion manufacture had a deal with Big Hit Entertainment, BTS’ label, to create bags and backpacks with band members name and photos on it.
Choi’s deal with Big Hit Entertainment included him to invite the band, with the agency’s agreement, to a promotional even for his products. This was supposed to be a one time promotional event. He didn’t have the right to host other meet and greets or events with the band.
But Choi couldn’t keep up with his monthly royalty payments to the agency. The royalty payments allow Choi’s clothing manufacturer to own the exclusive rights at producing official BTS backpacks.
His monthly royalty payments with roughly $290,000 a month. But Choi was already over $1,700,000 in debt.
Choi’s building debt is what drove him to start a BTS meet and greet scam.
Thank goodness he got caught before more companies and fans lost thousands of dollars.