It turns out that the CEO of Optimus Asset Management, which caused a dispute over the repurchase of private equity funds, embezzled the funds and invested in stocks in the name of the individual.

Optimus Management cheated on investing in public agency sales bonds, gathering investors to invest in risky assets, and using funds to stop the fund.

The Financial Supervisory Service today announced the results of an interim test regarding the suspension of the repurchase of private equity funds by Optimus Asset Management.

The Financial Supervisory Service has uncovered fraudulent transactions, embezzlement of fund funds, and blocking funds through field inspections of Optimus Asset Management.

Optimus Asset Management stated in the investment proposal that it was a direct or indirect investment in'public institution receivables', but there was no investment in public institution receivables.

Instead, it incorporated private equity from companies managed by Optimus executives, etc., and invested in risky assets such as real estate, listed and unlisted stocks through a complicated transfer process.

He also lent to the PF business.

The assets of 46 funds of Optimus Asset Management were KRW 553.5 billion.

Most of the transferred assets (98%) were privately held private equity bonds (KRW 510.9 billion).

These were privately held bonds issued by four companies, including CPS (KRW 25.2 billion), Atri Paradise (KRW 21.3 billion), RAFICK (KRW 42 billion), and Daebu DKMC (KRW 27.9 billion).

Both of these companies are chaired by Optimo's second largest shareholder, Lee Mo (45, Constraints).

An official of the Financial Supervisory Service said, "The four companies were simple conduits (investments or financial intermediaries) that directly invest funds in various assets in their own name or transfer them to other affiliates." "It flowed in and out, but the exact size, etc. must be confirmed through due diligence."

Fund funds were also used to stop the fund's repurchase of privately issued bonds.

Some of the funds were transferred to the securities account under the personal name of the representative of Jae-Hyun Kim (50, constrained institute) after several transfers.

Lee used the funds to sell stocks and futures options.

The Financial Supervisory Service estimated that the fund's embezzlement amounted to tens of billions of won and most of it was lost.

The FSS explained that there was also a hindrance to the inspection work, such as submitting a contract for the transfer of a falsely written trade receivable and hiding the PC/data.

The Financial Supervisory Service also conducted on-site inspections of the depository and depository company, Hana Bank.

The main checklist was whether the Deposit Accounting System created the Optimus Fund's transferred asset information differently from the actual operating information.

In the case of Hana Bank, we examined whether private equity bonds were purchased in accordance with the Optimus management instructions, even though the assets under investment are listed as public institution sales bonds in the trust agreements of some funds.

On-site inspection of NH Investment & Securities, the largest seller, is in progress.

Currently, the repurchase of 401 billion won (24 funds) is delayed out of 151.15 billion won of the Optimus Fund (46).

The remaining 22 funds also consist of the same or similar assets as the redemption deferred fund, which means that the redemption is inevitable when maturity arrives.

The total number of investors (based on the number of accounts) is 1,166.

There are 982 individual investors (KRW 240.4 billion) and 184 corporate investors (KRW 274.7 billion).

As of the 17th of this month, the FSS filed 69 complaints.

The Financial Supervisory Service plans to handle dispute settlement according to the results of legal reviews that take into account due diligence, repurchase progress, and inspection results.

The Financial Supervisory Service has also decided to focus on recovering investments.

The Financial Supervisory Service is seeking to transfer funds to other managers to recover their investment.

The fund transfer process is underway for three funds that do not have private equity bonds and have low linkages with other funds.

Kim Dong-ho, Deputy Director of Financial Investment, Financial Supervisory Service of the Financial Supervisory Service, said, “NH Investment & Securities accounts for 84% of fund sales. Suppose you are preparing."

Deputy General Manager Kim said, "If you look at the confirmed contents, it is considered that the recovery is difficult or the value is low."

The FSS plans to initiate sanctions against managers in parallel with the transfer of funds.

(Photo = Yonhap News)