Optimus Key Lobbyist Jeong Young-je Arrested... Warrant Requested

[Asia Economy Reporter Baek Kyunghwan] The prosecution investigating corruption allegations at Optimus Asset Management has arrested Jeong Young-je, former head of Optimus Alternative Investments.

On the 26th, the Violent Crime Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Won Ji-ye) announced that they apprehended Jeong at a pension in a provincial area the previous morning and executed an arrest warrant. Subsequently, the Economic Crime Division, the team investigating the Optimus case (Chief Prosecutor Joo Min-cheol), requested an arrest warrant for Jeong on charges including fraud under the Act on the Aggravated Punishment of Specific Economic Crimes after questioning him.

The investigation team believes Jeong conspired with Kim Jae-hyun, CEO of Optimus, and others in the fund fraud scheme. Jeong, formerly of the Daewoo Group, had built connections in the securities industry, having served as vice president of Dongbu Securities, CEO of C& Ship Finance, and CEO of C& Woobang.

Since 2017, he joined Optimus and was reportedly involved in raising investments from the Korea Communications Agency and lobbying NH Investment & Securities. He also served as CEO of Golden Core, a real estate development company under Optimus, and promoted the Bonghyeon Logistics Complex project in Gwangju, Gyeonggi Province.