[Exclusive] Following Kim Bong-hyun, Lime CEO Won Jong-jun Also Applies for Bail on Fund Fraud Charges

Bail Application Submitted to the Court on the 17th
Uncertain Whether the Court Will Approve

Won Jong-jun, CEO of Lime Investment Advisory

[Asia Economy Reporters Seongpil Jo and Byeongdon Yoo] It has been confirmed that Won Jong-jun, CEO of Lime Asset Management (age 46), who was arrested and indicted on charges related to the suspension of redemptions of a fund worth 1.6 trillion KRW, has filed a bail application with the court.

According to the Seoul Southern District Court on the 26th, CEO Won submitted a bail application on the 17th to the Criminal Division 12 (Chief Judge Oh Sang-yong), which is handling the trial on charges including violation of the Act on the Aggravated Punishment of Specific Economic Crimes (fraud) and the Capital Markets Act.

Previously, CEO Won was arrested and indicted on charges of selling approximately 200 billion KRW worth of Lime Trade Finance Fund by deceiving investors into believing that the fund was directly investing in overseas trade funds, while failing to disclose that there were defaults in the overseas trade funds invested by the Lime Trade Finance Fund and that the redemption funds from existing funds were intended to be used.

At the time, Park Won-kyu, the presiding judge responsible for the pre-arrest detention hearing, issued the arrest warrant for CEO Won, stating, "There is a risk of evidence destruction and flight." Accordingly, it is analyzed that the likelihood of the court accepting CEO Won's bail application is low.

Meanwhile, the hearing date for CEO Won's bail application is scheduled for 11 a.m. on the 14th of next month.