At the start of the Burning Sun controversy, Seungri claimed that he had no ownership or management role in the club and was only involved in promotions.
However, it has now been reported by Yonhap News that Yuri Holdings held approximately 40% of the shares in Burning Sun when the club was established in late 2017. Yuri Holdings is a company founded by Seungri and Yoo In Suk.
The police revealed that the current percentage of shares held by Yuri Holdings is 20%, half of their shares were transferred to Madam Lin, a Taiwanese businesswoman and acquaintance of Seungri’s.
KakaoTalk messages have also been obtained which show Seungri giving orders to Burning Sun staff, such as strengthening ID checks. This is further proof that Seungri was more than just a promoter for the club.