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Big Bang member Seungri has cancelled his scheduled activities and upcoming solo concerts after being accused of hiring escorts for others.

A Korean SBS funE reporter broke the news about the escort services allegations and released Kakaotalk (free mobile instant messaging app) conversations Seungri allegedly had with the CEO of Yuri Holdings and an employee.

The texts revealed Seungri directing the employee to take good care of investors from Taiwan and prepare women for them at a Gangnam nightclub in Seoul.

It was reported that the texts took place in December 2015 when the K-Pop singer was reportedly contacting local and foreign investors for his businesses.

The Big Bang member stated that he doesn’t remember the text messages. His management agency, YG Entertainment, and Yuri Holdings, which was co-founded by Seungri in early 2016 for investments in the singer’s restaurant and entertainment enterprises, have denied the reports.

According to Yonhap News agency, YG Entertainment stated the media report is “false” and claimed it’s based on fabricated text messages.

The Big Bang member took part in the police investigation for about eight hours and 30 minutes on narcotics and sex-for-favours suspicions. Seungri denied the media report and claimed his innocence.

The Seoul Metropolitan Police Agency have revealed they have not yet received an original copy of Seungri’s Kakaotalk messages from the SBS funE reporter.

The police have been separately investigating club Burning Sun, where Seungri was a PR Director, over a series of allegations that involved sexual assaults, narcotics use, violence and corrupt ties with local police.

YG Entertainment went on to deny allegations of destroying evidence related to the Burning Sun controversy.

In light of the shocking controversy, YG Entertainment’s stock plummeted.