Singer Park Hyo Shin sued again for fraud for the fifth time... Could this be a case of ”triangular fraud”?

It has been revealed that singer Park Hyo Shin has been sued by the representative and shareholders of a former management office.
According to the NEWS, Park Hyo Shin recently met with Mr. A, the representative of the former management office.
A shareholder sued Park Hyo Shin for violating the Act on Aggravated Punishment of Specific Economic Crimes (fraud) and obstruction of business. A and the shareholders filed a criminal complaint against Park Hyo Shin at Yongsan Police Station in Seoul on the 7th.
Park Hyo Shin's former management office Glove Entertainment acquired Park Hyo Shin through a paid-in capital increase twice, in May 2016 and August 2018.
The plaintiffs allege that Park Hyo Shin, using his close aide B, distributed new shares to shareholders, even though there was no trust agreement.
They claim that Park Hyo Shin misled the plaintiffs into believing that he was the actual owner of the shares held by the plaintiffs. According to them, Park Hyo Shin was a liar who had made a false statement in a special shareholders meeting in March 2022 regarding the plaintiffs' first week shares.
He exercised his voting rights, appointed three of his allies as directors, and took control of the company. In August 2023, he personally exercised his voting rights over the shares owned by the plaintiffs and dismissed Mr. A from his position as a director.
The plaintiffs believe that Park Hyo Shin's act A constitutes "triangular fraud" (a form of fraud in which the deceptive party and the victim are different).
In response to this, Park Hyo Shin's side told Edaily, "We understand that there has been no lawsuit filed against us for fraud."
"We are currently investigating the matter." This is the fifth time Park Hyo Shin has been sued. In 2006, Nishi Entertainment, which was the management office at the time, filed a lawsuit against Park Hyo Shin after he signed an exclusive contract with the company.
The lawsuit was filed against Park Hyo Shin, who claimed 1 billion won (US$100 million) for failing to fulfill his contractual obligations. Park Hyo Shin also filed a countersuit against the company, but the two parties eventually reached an agreement to drop the lawsuit.
In 2008, he was embroiled in a legal dispute with former management office Interstage. Interstage claimed that Park Hyo Shin had breached an exclusive contract and sought 3 billion won in damages.
Park Hyo Shin argued that the allegations were groundless, but the court ruled in favor of the management office. Interstage filed a lawsuit against the five companies that had filed for damages in 2014.
The Supreme Court again charged Park Hyo Shin with evading execution, and found him guilty in 2016. In addition, in 2019, Park Hyo Shin received 400 million yen in gifts, including a car and a watch, from businessman A.
He was accused of fraud for embezzling more than 10,000 won in cash and valuables.