Suspects Related to the 'Lime Scandal' Sequentially Detained... Investigation Accelerates
[Asia Economy Reporter Yoo Byung-don] The prosecution investigating the 1.6 trillion won 'Lime Asset Management redemption suspension incident' has arrested an executive of Lime Asset Management involved in the case.
The Criminal Division 6 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Jo Sang-won) announced on the 1st that they arrested Kim, head of Lime Asset Management, on charges of violating the Capital Markets Act and the Act on the Aggravated Punishment of Specific Economic Crimes (breach of trust, bribery, etc.). The specific circumstances of Kim's arrest were not disclosed.
According to the prosecution, Kim is known as a figure who conspired with former Lime Asset Management Vice President Lee Jong-pil, who is currently absconding, and escalated the Lime incident.
Additionally, the prosecution is conducting a search and seizure of Star Mobility, a KOSDAQ-listed company owned by Kim Bong-hyun, who has been identified as a financial source of Lime.
Since around 9:30 a.m. on the same day, prosecutors and investigators have been securing computer files and ledgers at the headquarters of Star Mobility in Ansan, Gyeonggi Province.
The prosecution is examining circumstances suggesting that hundreds of millions of won invested directly or indirectly from Lime Asset Management into this company were embezzled.
Recently, the prosecution reinforced the Lime investigation team by dispatching additional prosecutors and is accelerating the investigation by consecutively securing the custody of those involved in the Lime incident.
On the 31st of last month, the prosecution arrested four people, including Lee, on charges of manipulating stock prices by pre-purchasing shares of a listed company into which Lime fund money was invested, and requested arrest warrants.
The pre-trial detention hearings for Lee and others were held on the 1st at the Seoul Southern District Court. The decision on their detention will be made late in the afternoon.
Earlier, on the 28th of last month, the prosecution arrested two people for aiding the escape of former Vice President Lee by delivering pharmaceuticals, charging them with harboring a criminal. A former executive of Shinhan Financial Investment, who sold hundreds of millions worth of Lime funds to the company's clients despite knowing the fund's insolvency, was recently arrested on charges of fraud and violation of the Capital Markets Act.
The police also arrested Kim, an associate of Kim Bong-hyun, chairman of Star Mobility.
Investigative agencies are pressing detained suspects to reveal the whereabouts of key suspects such as former Vice President Lee, who is absconding, and Chairman Kim.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
