BIGBANG's Seungri booked for alleged violation of anti-prostitution law

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Stocks of talent agencies took a plunge Monday after Yonhap News named Seungri, nicknamed "Korea's Great Gatsby" for his opulent lifestyle, as a suspect in the probe involving prostitutes at clubs in the Gangnam area in Seoul.

BIGBANG's Seungri has officially been booked and questioned by police on charges of violating South Korea's Acts on Pimping and Prostitution and its Punishments.

"It would be better for me to retire from the entertainment business at this point", Seungri said in a statement posted on his Instagram account.

On Feb. 27, police questioned Seungri over the allegations.

Last week, his agency, YG Entertainment, announced he will join the Army on March 25.

For those who may not know, the star has been plagued with scandal after scandal, and is now currently under police investigation for allegedly offering prostitutes to investors at the night club Burning Sun.

The five-member group, which has won a huge global following since it was formed in 2006, is taking a break after abruptly cancelling concerts scheduled for later this month.

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"As I've been branded as a "national traitor", I can not stand the fact that I'm harming others for my own sake".

The lobbying is alleged to have happened at nightclubs in Seoul, South Korea's capital.

The rep continued, "Seungri has been having a hard time at how he has been causing harm to the people around him".

The source also said, "To be honest, no exact details have been revealed about Seungri during the past month and a half of police investigations".

A former supporter replied to the post saying: "I'm so embarrassed at myself for being your fan for the last 10 years".

The scandal comes ahead of the singer's mandatory military service, which all able-bodied South Korean men are required to complete.