[Asia Economy Reporter Seongpil Cho] A detention warrant was issued on the 23rd for Lee, chairman of Skin&Skin, a cosmetics company, who is accused of participating in the Optimus Asset Management fund fraud.
Kim Dong-hyun, the chief judge in charge of warrants at the Seoul Central District Court, issued the detention warrant requested by the prosecution on charges including violation of the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement) in the afternoon. Judge Kim stated the reason for issuing the warrant, saying, "The criminal charges have been substantiated and the case is considered serious."
Lee did not attend the pre-arrest detention hearing held at the Seoul Central District Court on the 19th. Only Lee’s younger brother, Lee, who is also a company director, participated in the hearing. The court judged that Lee had fled, canceled the detention hearing, and reportedly issued the warrant without a hearing. The prosecution plans to execute the detention warrant issued on the same day as soon as Lee’s custody is secured.
Earlier, the prosecution requested detention warrants for Lee and his brother on the 15th. According to the prosecution, Lee and his brother embezzled 15 billion KRW of Skin&Skin’s funds in June under the pretext of a dental mask distribution business, created false transfer confirmation documents as if payment had been made, and submitted them to the board of directors. At that time, the 15 billion KRW was transferred to E-People Plus, an Optimus affiliate engaged in mask wholesale and retail business, but was mainly used to prevent the suspension of Optimus fund redemptions. E-People Plus is a company wholly owned by lawyer Yoon Seok-ho (detained and indicted), a director of Optimus.
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