James Reid finally broke his silence over the pressing controversies surrounding his company, Careless, and his now-former business partner Jeffrey Oh. James, together with his legal counsel, disclosed how the singer-actor was allegedly deceived and scammed for over P100 million.
In a series of tell-all interviews, James and Atty. Rodel de Guzman sat down with the media and revealed how Jeffrey supposedly ran away with a lot of unclosed and undocumented business dealings. James reveals that Jeffrey owed him more than P100 million—and it was not even the company's money, it was the actor's personal money. With all of that piling up, James decided to look into the matter.
James' lawyer told MJ Felipe, "There were a lot of business dealings which were not properly documented. In fact, during our last meeting with him [Jeffrey], we will account for all of the funds that were missing. He agreed to that, but he asked me for one day to come up with the information. After that, we were informed that he already left the country."
Atty. De Guzman also confirmed that the most urgent grounds for his immediate termination was the fact that he did not have the legal papers to continue working in the Philippines. The South Korean-American businessman was arrested in July 2023 after the Bureau of Immigration filed a complaint against him for lack of work permits. James admitted that it was the first time that he found out about the criminal allegations against Jeffrey. That's when he sought Atty. De Guzman's assistance.
READ: James Reid Speaks Up On Careless CEO Jeffrey Oh’s Arrest
This is the second revelation that James made in September. Earlier this week, his company issued a press statement announcing Liza Soberano's departure from their management. James clarified that Liza was not removed from Careless. Instead, it was the actress' decision to leave so she can seriously pursue her career in the U.S.
When asked about their artist-manager relationship, James divulged that he was really hesitant to handle Liza at first because she really had big dreams for her Hollywood career. But of course, Careless tried. "I helped her a lot with the initial meetings with her co-management in the U.S. Even with her first film, I introduced the director. But everything after that was really her. [...] I was happy to release her and for her to focus on the U.S." James expressed.
James Reid on Jeffrey Oh's betrayal
James and Jeffrey first met in 2019. The actor recalled how they casually met at a commercial space in Quezon City, worked together on a project, and then eventually became business partners. Jeffrey was meant to be focused on being a consultant in the business development aspect of the company. But for James, he treated Jeffrey like a brother and a friend.
"I did feel used. But also the reason why I really want to look into these issues is because I felt somehow at least emotionally responsible," James said in the interview. "Because I had introduced to a lot of these people and he used me as a front to meet a lot of those people. So I just want to make things right."
What happens to James Reid now?
On handling Careless
James and the whole Careless team are currently restructuring their company. They remain hopeful about the company and its artists' potential.
"Careless is sticking to what it's supposed to be. It's really just an independent label artist management. Simple lang 'yung gusto ko. Just make music that we love, and be proud of. Work with people that we trust, contribute to the community...yeah, it's not that complicated." James declared.
On his acting comeback with ABS-CBN
Aside from his plans for Careless, James also expressed his desire and plans of finally coming back to acting, and it's with his longtime home network, ABS-CBN. His last acting project was in 2019 when he starred in the film, Miss Granny.
In his interview with ABS-CBN's "On Cue," James excitedly confirmed that he will be doing projects with ABS-CBN soon! He underscored that it's always been his plan to continue his career as an actor. But is he open to doing another love team project?
"I don't think so," was James' immediate response. He continued, "Siguro out of respect for my partner, my girlfriend. I wouldn't do another love team project again. Also for my mental health and peace of mind."
For him, being in a love team early on in his career somehow took a toll on him. "I needed a break, especially coming from a love team. Parang I was starting to lose my identity."
Right now, he'll be steadfast in fulfilling his career, whether it's in television or film, actor James Reid is making a comeback. "I still have a lot to contribute, not just for music anymore, but also for TV and film," he concluded.
