It is on like Donkey Kong once again! J. Tune Entertainment investors are suing their main shareholder, Rain, for fraud and embezzlement. The company hasn’t been doing very well since its start three years ago because stocks are falling faster than fangirls after a Rain hip thrust. The cycle goes something like this: company stocks fall, Rain sells his shares because stocks are falling, stocks fall even further because Rain sold his shares, Rain sells more shares, etc.
Now Rain is stating that he is merely an investor in the whole ordeal and never took on the role as head of the company. Investors on the other hand are singing a different J tune. They claimed that he received 15 billion won for signing on as the head back in 2007. To me, it seems like both sides are at fault. Investors rode on the back of Rain’s popularity and Rain simply wanted nothing to do with it after the company proved to be fruitless. This may not look so good for Rain in court (when does it ever?) but he has a storm full of Clouds to support him (you can love the guy and not his ventures).
cr: Song Woong-ki at koreaherald