Monetary Supervisory Provider Gov. Lee Bok-hyun speaks to reporters adhering to an party for modest and mid-sized firms at Hana Economic Group’s international campus in Incheon on Aug. 10. [NEWS1]

Money authorities and the prosecution relaunched an investigation into three asset administration firms – Lime, Optimus, Discovery – that were being at the heart of an infamous fund scandals immediately after exploring supplemental law violations.
The Money Supervisory Support (FSS) mentioned it has done an added investigation into the 3 asset management corporations – Lime, Optimus and Discovery – accused of generating and promoting fraudulent fiscal items as very well as freezing fund redemption, causing buyers to lose trillions of gained in 2019.
“Lime transferred the losses to other fund investors by furnishing preferential redemptions to some buyers,” the FSS reported in a statement very last 7 days.  
Several brokerage companies, together with Mirae Asset Securities, are suspected of serving to offer the preferential redemption, according to resources from the monetary market.
Added suspected violations included embezzlement and pursuit of non-public fascination by personnel.  
The FSS identified that 200 billion won ($151 million) was embezzled from 5 corporations that Lime Asset Administration invested in, according to the FSS on Monday.
The FSS also suspects an undisclosed government at Optimus bribed a superior-ranking official of a community establishment in trade for obtaining 106 billion received worthy of of expense in its resources in 2016. Discovery is also suspected of falsely boosting expenditure for new money for the redemption of unsuccessful money in 2019.  
The fund scandals have spread to the political circle, with lawmakers amongst people suspected of acquiring preferential redemptions. The FSS did not disclose the title of the lawmaker who obtained the preferential redemption.
The principal opposition Democratic Party called the FSS investigation a “political repression.”
Four-expression lawmaker Kim Sang-hee of the Democratic Celebration staged a protest pursuing the FSS announcement, declaring that she suffered hundreds of won in losses from investing in the Lime fund. FSS Governor Lee Bok-hyun has apologized, she added.
Democratic Bash chief Lee Jae-myung also criticized the investigation, saying that the investigation into the scandal was dependent on unverified info and Kim was forcibly linked for a political purpose.
He included the FSS main “will be accountable.”
Additional than 13,000 individuals invested in some 5 trillion-gained really worth of funds that have been not redeemed from 2017 by way of July 2022, in accordance to information submitted to People Electric power Celebration lawmaker Yun Ju-keyng by the FSS. Only 47.5 per cent of these investments were redeemed.
“The accountability of the asset management corporations and the fund sellers could raise if folks invested immediately after currently being told the cash were to be appropriately redeemed” when that was not essentially probable, according to FSS Senior Deputy Governor Hahm Yong-il.  
“We have confirmed one-way links involving folks related to Lime and investees. We also notified the prosecution that there was an abnormal utilization [of the investment] connected to embezzlement. Unique use of the dollars is an area that necessitates investigation,” Hahm extra.  
Lime and Optimus declared individual bankruptcy previous 12 months following triggering money injury to their traders.

BY JIN MIN-JI [[email protected]]