Billions in unpaid settlements allegedly funneled into MC Mong's overseas gambling, TV probe claims

Allegations of embezzlement at One Hundred Label, an entertainment agency co-founded by singer MC Mong and Chairman Cha Ga-won, are drawing intense public scrutiny. As artists including Lee Seung-gi and Lee Mu-jin file lawsuits against the company over unpaid settlements, new claims have emerged that money withheld from the singers was diverted to fund MC Mong's overseas gambling.

MBC's investigative program "PD Notebook" is set to air an episode titled "MC Mong and the Chairman's K-pop Trade Secret" on Tuesday, examining the allegations.

Chairman Cha is said to have amassed hundreds of billions of won through luxury villa development projects before co-founding One Hundred Label with MC Mong in 2023 and entering the entertainment industry. In just over two years, the agency signed exclusive contracts with a roster of high-profile acts — including Taemin of SHINee, Chen, Baekhyun and Xiumin of EXO, Lee Seung-gi and Lee Mu-jin — sending shockwaves through the industry.

Recently, however, The Boyz filed for an injunction to suspend their exclusive contract with One Hundred Label, citing months of unpaid settlements. Fellow agency artists Lee Mu-jin, ChenBaekXi, BIBI G and Lee Seung-gi subsequently notified the company of contract terminations for the same reason. Staff members and partner companies have also reported non-payment, with total damages estimated at more than 10 billion won (approximately $6.65 million).

According to "PD Notebook," One Hundred Label received more than 115 billion won in advance investment — money paid upfront by record distributors and concert promoters based on the IP value of the agency's artists. The program raises the question of where those funds went, given that artists were never paid their settlements.

A three-year set of accounting records from One Hundred Label affiliates, obtained by "PD Notebook" from a company insider, reportedly shows large sums of advance payments transferred to Chairman Cha's personal accounts.

The production team said it received a tip that some of that money was passed on to MC Mong, a business partner, and used to fund his overseas gambling trips.

When "PD Notebook" sought comment from MC Mong on the gambling and fund-sourcing allegations, he abruptly went live on TikTok on May 18 and denied the claims. "Illegal gambling with company money? What the hell are you talking about — go ahead and look through all my accounts," he said, and went on to say he would expose gambling allegations involving other celebrities, including singer Kim Min-jong.

Despite MC Mong's denials, "PD Notebook" said it found evidence suggesting that billions of won in cash were quietly laundered through illegal currency brokers and moved to Las Vegas. Korean residents in Las Vegas also told the program that MC Mong was well known locally for high-stakes gambling.

The program said it would also reveal the full details of a gambling scandal in which MC Mong and Chairman Cha allegedly flew to a casino on a private jet provided by the venue, stayed in luxury villas and frequented a VVIP gaming room.

Meanwhile, One Hundred Label said through its legal representatives Sunday that it was "gravely aware" of what it described as the unchecked spread of defamatory posts and malicious comments, including "malicious slander, the spread of false information, insults and ridicule." The agency added that it would "take strict legal action without any warning, leniency or settlement."

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https://biz.heraldcorp.com/article/10762304