MUMBAI: South Korean girl band BLACKPINK member Lisa, has reportedly become a victim of financial fraud committed by a former manager.

According to soompi.com, Lisa lost 1 billion won (US$815,634.10 or Rp11,793,596,240) and the sum was used by the former manager for gambling activities.

The manager was said to be a person whom Lisa had trusted and had gained a positive reputation within YG Entertainment, the company that manages BLACKPINK.

YG Entertainment said in a statement that the former manager had taken responsibility for the wrongdoing. The company also stated it had taken precautionary measures to avoid something similar happening in the future.

On Monday, YG Entertainment announced on Twitter that it was currently preparing to release the solo projects of BLACKPINK members following the release of the band’s first full-length album in September.

BLACKPINK released their debut album in 2016 and consist of Jennie, Rosé, Lisa and Jisoo. The band has recently collaborated with prominent American singer-songwriter Lady Gaga on “Sour Candy”, included on Gaga’s sixth album, Chromatica.