Source: SM Entertainment

On the 28th, it was reported that Taeyeon was also one of 3,000 victims of real estate fraud of 250 billion won (approx. 214 million USD) and that she had suffered a loss of about 1 billion won (approx. 854,000 USD). It is said that the real estate company mobilized KBS comedians to persuade wealthy people to invest.

According to the media, Taeyeon's father bought land under Taeyeon's name through the real estate company. The company sold the land purchased for 400 million won (approx. 342,000 USD) to Taeyeon three months later for 1.1 billion won. The land was actually a designated protected area that cannot be repurposed unless it is for military or public facilities.

Taeyeon responded to the reports she was a fraud victim on the 28th asking people not to make assumptions.

Taeyeon's Instagram story (Source: @taeyeon_ss)

She posted a statement on her Instagram story saying, "I've lived away from my family since I was young, so it was my wish to set up a home for my family in a place closer to where I work and live so I could meet them more often, and my dream was to create a spot just for my family. With consent from my family, my parents checked the place with their own eyes and made the decision with the same dream as me. I'm writing because the purpose seems to be reflected differently from my intentions. Please refrain from misunderstandings, guess, and speculation. I'm waiting for the situation to play out because I've was unilaterally informed about the damage situation. I'm very upset about why I have to be speaking about these things, but I'm asking people who are misunderstanding it and thinking unfavorably to refrain from making any more speculations."

Taeyeon added on the side, "I'm not crazy enough to do speculative buying."

This article was paraphrased from: News1