results of the dispute settlement resulted in the return of all principals to investors for trade finance funds in the management of Lime assets. It is the result of banks and securities firms who believed that they sold and concealed the insolvency of the fund.
Reporter Park Chan-geun.
Financial Supervisory Service decided that the sales company would return the full amount of the investment to the fund subscribers for the four cases of Lime's dispute settlement request for the trade finance fund.
It was judged that this is equivalent to'cancellation of a contract due to error' in the Civil Code.
At the time of selling the fund, losses of up to 98% occurred, which means that it provided false or poor information such as yield and investment risk.
In fact, the results of the FSS investigation revealed that Lime and Shinhan Investment Corp. manipulated the base price to gain about 0.45% per month despite the fund's insolvency in 2018.
[Jeongseongung / FSS buwonjangbo: has been identified an opportunity such as rational investment decisions of investors and provided by creating a loss of Conservation Memorandum that block the source -
if sales companies, such as banks and securities will follow the decision about the rest of the victims, The Financial Supervisory Service expected that the principal amount of the trade finance funds sold since November 2018 will be returned to KRW 111.1 billion.
[Investors of Trade Finance Fund (Joined in April 2019): (Yearly) Eighteenth Net. I'm glad. Instead of increasing (investment), I haven't received the principal, so I am in debt now. I thought I had to pay the debt quickly.]
However, it may be necessary to observe the internal decision process such as the board of directors, as some vendors may object.
In the midst of this, the Seoul Southern Prosecutor's Office seized and searched the head office of Shinhan Bank on charges of selling it to investors even if they knew the fund was stale.
"Hide the 98% loss and sell the lime, 100% of the principal."
Dispute mediation has resulted in the return of all principals to investors for trade finance funds in managing Lime assets. It is the result of banks and securities firms who believed that they sold and concealed the insolvency of the fund.