Lee Jin Ho Axed from Knowing Bros After Illegal Gambling Scandal
Lee Jin Ho has been axed from his long-running Korean comedy show, Knowing Bros, after reports of illegal online gambling. It was indicated that he became so indebted that he could not pay back other well-known Korean actors and musicians like Lee Soo Geun, Young Tak, and even Jimin tens of millions in Won that he borrowed to finance his habit.
Jimin Owed 100 Million Won Since 2022
In what some consider a jaded ploy to garner public sympathy, Lee Jin Ho has been discussing his struggle with online gambling and naming all of the people that he has hurt along the way. One of those is Jimin, a member of the popular South Korean boy band BTS. All of this, of course, is ahead of what looks to be a lengthy police investigation into his activities.
Jimin, whose real name is Park Ji-Min, apparently loaned Mr. Ho 100 million Won back in 2022 and drew up a promissory note, even though Mr. Ho stated that he would pay back the money within a week. This documentation of the loan would prove to be very prescient.
It soon became obvious that Lee Jin Ho lacked either the funds or the desire to pay back the loan, but Jimin would go on to extend the repayment plan to ten years. All of this has now been confirmed by Jimin’s record label, BIGHIT Music.
Loans vs Gifts
Unfortunately, Jimin was far from the only victim of Mr Ho’s spiraling debts. Many other well-known Korean actors and musicians were also apparently lured into loaning hundreds of millions of Won to the embattled comedian, though not all have yet stepped forward to acknowledge Mr. Ho’s confession.
These include his co-star Lee Soo Geun, musician Ha Sung Woon, who previously was a member of the boy band Wanna One, and Young Tak, another well-known South Korean musician, actor, and singer. Other reported victims include producers, editors, and even writers of some of Mr. Ho’s various television and film appearances.
To add insult to injury, South Korean law holds that unrecorded loans are gifts. If a gift is given but the recipient fails to pay the taxes, the giver must pay the taxes. It also holds that “loans” without paperwork attached are simply considered gifts.
While we don’t yet know which of Mr Ho’s victims had the foresight to draw up proper loan documents, many of his creditors will likely face a substantial tax bill. That’s on top of their unpaid debts, although Lee Hin Jo has sworn to repay all his creditors eventually.
This may be difficult as he has been released not only from his television show Knowing Bros, but also from his other new Netflix Variety show, Comedy Revenge.
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