Chensu Jung appealed to the public by claiming that the Citizen Portal would be established as a separate nonprofit organization, owned by citizens and unrelated to Yellin Gonggam TV. However, while soliciting donations, he deceptively presented it as if it were an official project of Yellin Gonggam TV.
According to the recorded minutes of the Yellin Gonggam TV board meeting held in Ohio on June 1, Chensu Jung admitted and apologized for having carried out the project without prior approval from the board. He also did not dispute the board members’ statement that the establishment of Yellin Gonggam TV USA, as a branch, required formal board approval.
Later, on June 10(KST), in an emergency live broadcast, the board of Yellin Gonggam TV officially announced that the Citizen Portal project led by Jung had been carried out as his personal venture, without authorization or approval from the board.
In the early morning of May 10, Chensu Jung opened PayPal and Venmo accounts and posted a fundraising announcement on his Facebook page. A personal bank account was then opened at Wells Fargo under the joint names of Jung and a U.S. citizen serving as the project’s accountant. Through this, they actively encouraged donations to support the establishment of the Citizen Portal, a nonprofit organization that was presented as being owned by the public.
In total, approximately 223 individuals contributed around $186,000 (roughly 200 million KRW).
On May 4 (PT), Jung posted on his Facebook presenting the vision and plans for the “Citizen Portal.” While he emphasized that the project would be established as a nonprofit public-interest corporation, the actual content suggested a for-profit motive by implying potential returns on investment. The fundraising was launched without a concrete execution plan, legal consultation, or viable business model, relying instead on vague and unrealistic promises.
In a board meeting recording, Jung himself admitted, “I just came here on the side, with nothing but a blank sheet of paper,” acknowledging the lack of any real preparation. Contrary to his initial pledge to seek support from major investors in the U.S., he ended up appealing to Korean-American residents for even small donations.
In fact, the fundraising began with small contributions starting at $10, and supporters also organized a $100 relay donation campaign.
On May 16, 2022 (PT), Jung posted a fundraising announcement on his Facebook, expressing strong confidence in his plan to “establish a metaverse-based Citizen Portal.”
At the first meeting of the Citizen Portal Advisory Committee held on May 20, Jung referenced terms such as metaverse, cryptocurrency, blockchain, and AI while describing the proposed portal.
However, when an advisor posed a specific question regarding these technologies, Jung admitted, “I don’t know either; I just heard about it,” thereby exposing his lack of understanding of the fundamental concepts involved.
Jung’s Perception of the Citizen Portal Project:
“If I give up or fail, then it’s fraud. But if I don’t give up, it’s not fraud. Even if I die, as long as someone else continues the project, it’s not fraud.”
Chensu Jung publicly declared his intention to establish the Citizen Portal as a nonprofit organization. However, he lacked even a basic understanding of the types and legal nature of entities that can be formed in the United States. In the end, on June 8, he secretly registered a for-profit corporation solely under his own ownership, without informing the board or the Korean-American community.
At the May 28 Seattle session, Jung explicitly announced that although the form of reward had not yet been determined, contributors would be rewarded through the Citizen Portal—potentially in the form of coins, shares, or cash. With this statement, he officially reclassified the nature of the fund from a donation to an investment, without any written agreement or prior consultation.
Jung instructed the financial manager not to publicly disclose the accounting records. He also directed her to reclassify his living expenses during his stay in the U.S. as “operating expenses” and to settle the costs of personal activities, including a trip to the Grand Canyon, from the fund account.
Despite repeated warnings from the board of Yeollin Gonggam TV regarding the potential for fraud and their explicit request to suspend all fundraising activities, Jung refused to comply. He further escalated the situation by threatening to block the organization’s official YouTube channel.
Following his forced removal as CEO, Jung attempted to secretly withdraw the entire balance from the joint personal account and transfer the funds to a newly established for-profit corporate account, without informing the board members, the financial manager, or the Korean-American donors. This attempted withdrawal was detected and blocked by a Wells Fargo bank employee who found the transaction suspicious.
At the time of the attempt, Jung disclosed his plan only to one individual—a Seattle-based supporter whom he believed would be cooperative—and asked this person to manage the funds post-transfer. He also explicitly requested that this information be kept confidential. These actions strongly indicate deliberate intent and concealment consistent with fraudulent behavior.
Jung claimed through his YouTube broadcast that he was on a one-month business trip to the United States. However, he had made prior arrangements for long-term stay in the U.S. He sought visa consultation, planned to activate a U.S. phone number, and intended to cancel his return ticket. Jung also contacted Attorney Kim in the U.K. to seek advice on the possibility of asylum in Britain.
