Park Gyuri Denies Pica Coin Fraud Allegations in Ongoing Trial

Park Gyuri, former member of the K-pop group Kara, has testified in a South Korean court denying knowledge of alleged fraudulent activities tied to Pica Coin, a cryptocurrency project linked to her ex-boyfriend, Song Ja Ho. The trial, which centers on charges of fraud and breach of trust against Song, the former CEO of Pica Project, includes Gyuri as a key figure due to her role as Chief Communications Officer and Advisor for the project. She described her involvement as participation in a “legitimate art exhibition and joint purchase business,” emphasizing her lack of awareness about any illegal operations. Gyuri stated she invested in Pica Coin after selling her Bitcoin holdings in 2021, claiming her involvement was driven by her interest in art rather than financial gain [1].

Song Ja Ho, who faces accusations of price manipulation and deceiving investors, has countered Gyuri’s account. He allegedly claims she received 60 million won ($43,566 at the time) in cash as compensation for her role, despite the two reportedly having ended their relationship months prior. This discrepancy complicates Gyuri’s defense, as her professional responsibilities in the project and the timing of financial exchanges raise questions about her awareness of potential misconduct [2]. Prosecutors have not yet released detailed evidence linking her to fraudulent activities, and the case remains focused on testimonies and documentary proof [3].

The case highlights broader concerns about the intersection of celebrity influence and cryptocurrency ventures. Gyuri’s public persona as a trusted K-pop star may have inadvertently lent credibility to Pica Coin, underscoring the risks of associating with unregulated crypto projects. Legal analysts note that proving intent in such cases is challenging, particularly when individuals claim to be unaware of wrongdoing. Gyuri’s argument hinges on her assertion that she viewed Pica Coin as a legitimate art-tech initiative, despite her high-level advisory role [4].

Regulatory scrutiny of celebrity-endorsed crypto projects has intensified in recent years, with this trial reflecting the growing demand for transparency. Pica Coin’s delisting from Upbit in June 2021, following the alleged fraud, exemplifies the instability of smaller, opaque altcoin ventures. For investors, the case serves as a cautionary example of the need for due diligence, particularly in projects involving high-profile figures whose reputations can mask operational risks. The outcome of the trial may influence how similar cases are adjudicated in jurisdictions where celebrity influence intersects with financial accountability [1].

Gyuri’s legal team has emphasized her personal financial loss from the Pica Coin investment, framing her actions as those of an investor rather than a participant in a fraudulent scheme. However, the timing and nature of her compensation from Song remain central to the prosecution’s argument. The reformed Kara group, which continues its 2022 Asian tour, has not commented publicly on the matter, though Gyuri’s entanglements could impact the group’s public image. The trial’s focus on her credibility—both as a professional and a former partner of Song—illustrates the complexities of disentangling personal relationships from professional obligations in legal proceedings [2].

The crypto community is closely monitoring the case for insights into regulatory enforcement and the liability of non-technical stakeholders in altcoin projects. As the trial progresses, the alignment between Gyuri’s stated intentions and the evidence presented will remain pivotal. The outcome could set a precedent for how courts evaluate the responsibilities of celebrities in financial ventures, particularly when their roles blur the lines between endorsement and active participation [3].

Sources:

[1] [K-pop Star Park Gyuri of Kara Denies Crypto Wrongdoings as Ex-Lover’s Trial Continues](https://cryptonews.com/news/k-pop-star-park-gyuri-of-kara-denies-crypto-wrongdoings-as-ex-lovers-trial-continues/)

[2] [K-pop Star Park Gyuri of Kara Faces More Crypto Accusations as Ex-Lover’s Trial Continues](https://cryptonews.com/news/k-pop-star-park-gyuri-of-kara-denies-crypto-wrongdoings-as-ex-lovers-trial-continues/)

[3] [Park Gyuri Denies Crypto Fraud Involvement Amid Pica Coin Trial](https://coinmarketcap.com/community/articles/688180dacdd3e84fefeeda02/)