Seungri revealed to have owned 40% of the shares for 'Burning Sun'

Jun Ko, April 8, 2019, 12:09 p.m.

It was revealed that Seungri owned 40% of the shares for the club 'Burning Sun'. Yonhap News had reported that they received the documentations proving that Yuri Holdings (a company founded by Seungri and Yoo In Suk) held around 40% of the shares when the club was first established back in late 2017. Seungri had previously stated at the beginning of the controversy that he held no ownership or management of 'Burning Sun' as he was only involved in the promotions for the club. 

Currently, Yuri Holdings holds 20% of the shares as half of their shares was transferred over to Taiwanese business + Seungri's acquiantance Madam Lin.

In addition to the documentations, obtained Kakaotalk conversations further confirmed the fact of Seungri being more than a promoter of 'Burning Sun'; the conversations had detailed Seungri giving orders to the staff of 'Burning Sun', one being stricter enforcement of ID checks. 

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