Manhattan District Attorney Alvin L. Bragg, Jr., today announced the indictment of KEVIN JUIN, 35, for allegedly stealing more than $2 million in loans purportedly meant to acquire a high-end lingerie company. JUIN is charged in a New York State Supreme Court indictment with one count of Grand Larceny in the First Degree.[1]
“Business dealings must be handled with integrity in the finance capital of the world,” said District Attorney Bragg. “As alleged, Kevin Juin solicited more than $2 million in purported loans to invest in a lingerie company, while funneling the money to personal accounts to fund a luxurious lifestyle. My Office’s Investigation Division remains committed to rooting out fraud to ensure honesty in financial transactions.”
As alleged in court papers and stated on the record, beginning in January 2025, JUIN orchestrated a loan fraud scheme by convincing a business school classmate to provide over $2 million in short-term bridge loans that would purportedly be used to finalize the acquisition of Honey Birdette, an Australian lingerie company owned by the PLBY Group.
JUIN initially obtained approximately $1.2 million as a bridge loan with 10 percent annual interest and executed a convertible promissory note to repay the loan within 90 days. JUIN also offered his classmate the option of converting up to ten percent of the outstanding loan into common stock in the lingerie company after the deal closed. JUIN subsequently obtained two additional loans from his classmate, promising additional common stock in Honey Birdette, totaling 25 percent, in addition to the 10 percent annual interest on the principal loan amount. Overall, JUIN received $2,015,000 from his classmate.
As further alleged, rather than use the funds in furtherance of any acquisition, JUIN instead used the loans for personal expenses such as rent, luxury watches and jewelry, designer clothing, international travel, OnlyFans subscriptions, dining, private members clubs, and payments to a cleaning lady.
Despite continuously using the loans for personal expenses, JUIN represented to his classmate on dozens of occasions that the deal would be completed imminently. When the loan came due, JUIN provided numerous excuses for his failure to pay and lied about the status of the acquisition and repayment of the loan. JUIN eventually asked his classmate for a fourth loan in exchange for more equity. The classmate did not agree to extend any more funds to Juin until he was paid back per the terms of the first three loans. To date, Juin has failed to repay the loan and only has a few thousand dollars left in his bank account.
Assistant D.A.s Alexander H. Wells and Ishan Shivakumar are handling the prosecution of this case under the supervision of Assistant D.A.s Christine Payne (Deputy Chief of the Major Economic Crimes Bureau, “MECB”), Michael Ohm (Chief of MECB), and Judy Salwen (Deputy Chief of the Investigation Division), and Executive Assistant D.A. Jodie Kane (Chief of the Investigation Division). Investigative Analyst Katherine Hubbard and Paralegal Mckayla Hyman assisted with the investigation, as did Senior Investigator Patrick Lee under the supervision of Lieutenant Daniel Clark-El and Sergeant Louis Capolupo.
Defendant Information
KEVIN JUIN
Charge:
- Grand Larceny in the First Degree, a class B felony, one count
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[1] The charge contained in the indictment is merely an allegation, and the defendant is presumed innocent unless and until proven guilty. All factual recitations are derived from documents filed in court and statements made on the record in court.