Home Business 1 trillion fund scam Optimus Management to be kicked out… FSS registration cancellation withdrawal

1 trillion fund scam Optimus Management to be kicked out… FSS registration cancellation withdrawal

by news dir

Optimus Asset Management, which committed 1 trillion won worth of private equity fraud, will be withdrawn from the market.

The Financial Supervisory Service held a sanctions review committee on the 22nd and issued a disposition of cancellation of registration, the highest sanctions against Optimus Asset Management. Kim Jae-hyun, CEO of Optimus Asset Management, and other key executives and officials were asked to be fired. The demand for dismissal is the highest among executive sanctions.

The results of the sanction review by the Financial Supervisory Service will be finalized through resolutions of the Securities and Futures Commission and the regular meeting of the Financial Services Commission. If the cancellation of registration is confirmed in the future, the funds remaining in Optimus will be transferred to a bridge management company, which is being established by five sales companies, including NH Investment & Securities, and will be managed. The bridge manager corporation will be established in September.

Members of civic groups such as Citizens’ Coalition for Economic Justice and Optimus Fund victims held a press conference in front of the headquarters of NH Nonghyup Financial Group in Seodaemun-gu, Seoul on April 15 and asked the Financial Supervisory Service to accept the decision of the Financial Supervisory Service to compensate the victims in full. investment securities are required. [뉴스1]

Previously, the level of criminal punishment for Optimus employees and others was decided. On the 21st, the Seoul Central District Court sentenced Kim to 25 years in prison and a fine of 500 million won. An order to collect 75.1 billion won was also issued. In-house director Yoon Seok-ho was sentenced to eight years in prison and a fine of 200 million won.

The punishment for the crime ended when key figures were arrested and Optimus was expelled. However, it is unclear whether investors will be able to recover their money. The amount of unrecoverable damage so far is 554.2 billion won. In its sentence on the 21st, the court of first instance said, “It is unknown whether the damage will be recovered, and even if it is recovered, a considerable period and cost will be consumed.”

Optimus Asset Management officials, including CEO Kim, were indicted in July last year on charges of using the funds to acquire private placement bonds and prevent fund returns after collecting 1.3 trillion won (US$1.3 billion) of money to invest in public institution trade receivables for two years from April 2018. . He is also accused of making a false contract stating that he took over the trade receivables from a construction company to pretend that he had invested in trade receivables of public institutions.

By Hong Ji-yu, staff reporter [email protected]

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