Story by Ethan
On May 29th, 2026, the arrest of Kevin Juin, age 35, was announced by Manhattan District Attorney Alvin L. Bragg Jr.. Kevin Juin was charged with first-degree Grand Larceny as a class B felony. The arrest and charges against Kevin Juin were a result of an investigation handled by Assistant District Attorneys Alexander H. Wells and Ishan Shivakumar.
According to the Manhattan District Attorney’s Office, starting in January 2025 Kevin Juin convinced a classmate at their business school to provide more than $2,000,000 in short-bridge loans. The money from the loans was supposed to be used for finalizing the acquisition of Honey Birdette, an Australian lingerie company owned by PLBY Group. The defendant initially obtained $1,200,000 with 10% annual interest as a bridge loan that was followed by a promissory note stating it must be paid back in 90 days. Kevin Juin proposed to the classmate to convert 10% of the outstanding loan into common stock to invest into the company after the initial deal was closed. Two more loans were given to the defendant from the classmate that totaled an additional 25% of common stock that led to Kevin Juin receiving a total of $2,015,000 from his classmate.
Instead of using the provided funds for any acquisition or investment matters Kevin Juin used the money given to him for personal expenses including rent, luxury jewelry, watches, designer clothing, international travel, dining and restaurants, OnlyFans subscriptions, private members clubs, and payments to a cleaning lady. The defendant continuously presented on dozens of occasions to the classmate that the deal would be completed, however provided a myriad of excuses as to why he couldn’t pay the loan when the payment was due. Kevin Juin attempted to ask his classmate for a fourth loan in exchange for more equity, however the classmate refused on the basis of needing the defendant to first pay off the initial loan. To this day the loan has not been paid off and Kevin Juin only has a few thousand dollars in his bank account.
The Manhattan District Attorney’s Office stated that the charges against Kevin Juin are merely accusations, and the defendant is presumed innocent unless proven guilty beyond a reasonable doubt in a court of law.
