Decision on Detention Based Solely on Written Examination
[Asia Economy Reporter Seongpil Cho] Jeong Young-je, former CEO of Optimus Alternative Investments, who was identified as an accomplice in the Optimus Asset Management (Optimus) fund fraud case, waived his detention hearing on the 27th.
Chief Judge Choi Chang-hoon of the Seoul Central District Court, responsible for warrants, was scheduled to hold a pre-arrest detention hearing (warrant substantive examination) at 3 p.m. that day for Jeong, who is accused of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes. However, Jeong expressed his intention not to appear through his lawyer in the morning, so the decision on detention was made based solely on document review. Jeong is considered a key "keyman" who could reveal the suspicions of political and business lobbying by the Optimus management. The decision on detention is expected to be made as early as that night or by the next morning at the latest.
Jeong is suspected of conspiring with Kim Jae-hyun, CEO of Optimus, to attract investments from the Korea Communications Agency and lobbying NH Investment & Securities. He also served as the CEO of Golden Core, a real estate development company under Optimus, and promoted the Bonghyeon Logistics Complex project in Gwangju, Gyeonggi Province.
Jeong disappeared to evade the prosecution investigation shortly after the Optimus management was arrested at the end of July. Although there were rumors that he fled to China, it is known that he stayed in Korea with the help of a religious figure. The prosecution arrested Jeong on the 25th at a pension in a provincial area, investigated him, and requested an arrest warrant. With Jeong’s capture, all major brokers involved in the Optimus case, except for Ki Mo, who fled, have been secured by the prosecution.
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