[Asia Economy Reporter Ji-hwan Park] The full-scale asset recovery process has begun for Optimus Asset Management, which caused a redemption suspension crisis involving up to 500 billion KRW.
According to the financial investment industry on the 5th, Samil Accounting Corporation, the largest distributor NH Investment & Securities, and the Financial Supervisory Service (FSS), appointed as the manager of Optimus Asset Management, have been holding meetings since the 1st to discuss the due diligence plan.
The fund accounting due diligence is the initial step to verify recoverable assets among the investment details and to confirm the loss rate. Investors must have the expected loss amount confirmed before they can apply for dispute mediation procedures with the financial authorities.
So far, the fund amount that Optimus Asset Management has disclosed as used for investments is 269.9 billion KRW. Considering that the fund balance as of the end of May was 517.2 billion KRW, the amount yet to be explained is approximately 250 billion KRW.
The entities Optimus stated as fund investment destinations, such as Atriparadise, CPNS, Goldencore, High Consulting, and NB Capital Loan, are mostly unclear loan companies or real estate consulting firms, so additional verification is needed to confirm whether actual funds were invested.
Within the industry, there is an analysis that the fund structure is relatively simpler than Lime Asset Management, so the asset recovery process may proceed faster. However, since the prosecution has already conducted a search and seizure on Optimus Asset Management, there is also a prospect that access to key materials may not be easy.
The FSS has extended the on-site inspection of Optimus Asset Management, which began on the 19th, for an additional week.
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