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We have obtained a court management report submitted to a US court regarding the Discovery Fund, which has produced many victims.
It states that in the middle of 2017, before IBK began aggressively selling the fund, bad debt was found in US assets that Discovery had already invested in.
This is reporter Hyung-woo Jeon.
<Reporter> This
is the November 2020 court management report on DLI, an American asset management company secured by SBS.
Among them, the fact that in the middle of 2017, the assets of US management companies were revealed to be insolvent.
Due to a failure in the operation of 'Quarter Spot', a small business loan platform invested by DLI, the value of investment assets decreased by 35 million dollars and our money by 40 billion won.
Then, DLI ordered the special purpose corporation DLG to purchase a quarter-spot loan of $55 million in September 2017 to alleviate this insolvency.
In particular, the report noted that DLG bought the loans at a price that was higher than their actual value.
It means that DLG has taken over the insolvency of DLI from the beginning of its establishment.
Most of the investment in the discovery fund purchased by domestic general investors went into this DLG.
[Goo Hyeon-joo / Attorney: Judging from the decision to invest in DLG, which took on insolvent assets, there seems to be an absolutely necessary reason for Discovery Asset Management to continue to issue and sell this series of funds.]
The report has some clues as to why.
80% of the money paid to early investors on DLI came from DLG and later investors.
Ambassador Ha-seong Jang and former head of department Kim Sang-jo invested in July 2017.
IBK's Discovery Fund sales will be concentrated from the end of 2017 to 2018.
Police are investigating whether Discovery is suspected of a 'Ponzi scam' that pays returns to existing investors with new investment even after recognizing the insolvency of funds by US managers.