It was confirmed that John Lee, CEO of Meritz Asset Management, who was suspected of borrowing name investment, recently submitted his resignation.
According to the financial investment industry today (28th), CEO John Lee recently expressed his resignation to Meritz Financial Group.
It is now known that he is not at work for the company.
The Financial Supervisory Service is investigating allegations of borrowed-name investment by CEO John Lee.
Recently, the Financial Supervisory Service was reported to have carefully reviewed the details of private equity fund management and investment process related to the P2P (Person-to-Person Finance) platform while conducting on-site inspections of Meritz Management.
Meritz Management's P2P private equity fund includes products from P2P companies in which the spouse of CEO John Lee is a major shareholder.
The Financial Supervisory Service is investigating whether there were any violations of capital market laws in the course of managing P2P private equity funds, including whether CEO John Lee borrowed his spouse's name to invest in the company.
In response, Meritz Management acknowledged the fact that four P2P investment private equity funds were invested in P company products, which the spouse of CEO John Lee owns in part.
However, it said that there was no loss to the fund investors and Meritz Management, and the FSS investigation had sufficiently clarified the allegations of borrowed-name investment.
CEO John Lee became famous as a value investment evangelist who has emphasized the need for long-term stock investment to the general public in various broadcast programs and public lectures, and has been a mentor to individual investors who lead the so-called 'Donghak Ant Movement' in the stock market after the spread of COVID-19. announced the name.
(Photo = Courtesy of Meritz Asset Management, Yonhap News)