In a shocking turn of events, BTS’ Jimin has emerged as one of the latest celebrities to fall victim to comedian Lee Jin Ho's gambling addiction and deceitful tactics. According to Koreaboo, in 2022, Jimin lent Lee a staggering KRW 100 million (around USD 74,100), believing the funds were urgently needed. However, when it was time for repayment, Lee failed to deliver, even after Jimin generously extended the deadline to ten years, fully aware he might never recover his money. BIGHIT Music has now confirmed that Jimin indeed fell victim to Lee Jin Ho’s deceit. Due to this case, Jimin can avert Tax due to gift tax law, here's how. BTS Jimin Birthday: From ‘Filter’ Dance Moves to His Iconic Shirt-Ripping Moment at MAMA 2014, Here Are a Few Sexy and Unmissable Moments of ‘Set Me Free’ Singer!.

Gift Tax Implications: Jimin’s Promissory Note Shields Him While Others Face Financial Fallout

In South Korea, the gift tax law stipulates that if a person receives money without a promissory note and fails to pay the gift tax, the lender is liable for that tax. Fortunately for Jimin, since he lent the money with a promissory note, he won't face any gift tax or penalties related to this loan. In contrast, many other celebrities who trusted Lee and lent him significant amounts without any formal agreements are now facing dire financial repercussions. This situation could be classified as tax evasion under the law, meaning these celebrities must pay the tax upfront and later take legal action to prove the money was a loan, not a gift.

The scandal has deepened as other well-known figures, including Young Tak and Lee Soo Geun, have also reported being scammed by Lee Jin Ho. Allegedly, Lee borrowed tens of millions from Lee Soo Geun, leveraging their friendship to persuade others to lend him money. This behaviour has placed considerable strain on Lee Soo Geun, who found himself forced to cover Lee Jin Ho's debts while managing the ongoing stress of the situation.

In a further twist, some celebrities have taken legal action against Lee, filing complaints and seeking to garnish his wages. Despite Lee Jin Ho's troubling history, his agency, SM C&C, has seemingly ignored the scandal. Reports suggest that individuals owed money even contacted the agency for support, yet SM C&C allowed Lee to continue appearing on various shows. ‘Are You Sure?!’: BTS Jungkook, Jimin, and V Aka Kim Taehyung Reunite; Maknae Line Greet ARMY With Classic Bangtan Style (Watch Video).

As this saga unfolds, the fallout from Lee Jin Ho's actions continues to reverberate throughout the entertainment industry, leaving many to ponder just how far-reaching the consequences will be.

(The above story first appeared on LatestLY on Oct 14, 2024 05:36 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).