The accounting firm's due diligence result comes tonight on the $ 1.6 trillion Lime Asset Management Fund, which has been suspended for repurchase due to trade finance fraud. There are likely to be more investors than half the principal, and critics say that financial regulators have been behind.
This is reporter Park Chan-keun.
In April last year, 84-year-old Kim invested 100 million won in Lime Asset Management Fund, which he believed in Woori Bank's employees.
There was no doubt that a frequent employee did not risk any loss.
The employee also wrote up the documents arbitrarily, saying that Mr. Kim had a certain income and was aggressively investing.
The maturity is three months old, but he is not looking for money because he has stopped buying back.
[Mr. Kim / Lime Fund Investor: Little by little, all my life. It hurts because I couldn't use it and lost it. Money like my life.]
Investors at Lime Asset Management have not heard much about commodity risks like Mr. Kim.
The loss rate for funds that have stopped buying back is known to be 40-70%.
The problem is that the securities firms in Lime Funds have a gross profit swap, a sum of 670 billion won, which is likely to be paid back first and then the remaining money is distributed to individual investors.
Personal investor losses can be even greater.
About two years ago, there were concerns in the securities industry that private equity funds, such as Lyme, overinvested in risky assets, but the financial authorities did not take any action.
[Hwang, Se-Woon / Capital Market Researcher: You can criticize whether the financial authorities are too lagging behind. A very loose market with little investor protection is a feature of private equity funds.]
Lime announced the expected gains and losses of funds that had been repurchased around the 14th, and only then did the financial authorities decide to improve private equity.
(Video coverage: elderly food, image editing: Jong-Tae Kim, CG: Jin Hoe Choi)
"It's a lifetime of money."
The accounting firm's due diligence results are tonight regarding the $ 1.6 trillion Lime Asset Management Fund, which has stopped buying money due to trade finance fraud. There are likely to be more investors than half the principal, and critics say that financial regulators have been behind.