[Asia Economy Reporter Choi Seok-jin] The prosecution investigating the Optimus Asset Management (Optimus) fund fraud case has indicted the former CEO of ship parts manufacturer Haeduck Powerway and others on charges of conspiring with Kim Jae-hyun, CEO of Optimus (50, detained and indicted).
According to the legal community on the 30th, the Economic Crime Criminal Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Joo Min-cheol) has detained and indicted two individuals: former Haeduck Powerway CEO Park (61) and Myungseong TNS Chairman Oh (54).
The prosecution also filed additional charges against Kim, the Optimus CEO who was previously detained and indicted, and non-detained indictment against Kang, the general director (54) of Sebo Tech, a subsidiary of Haeduck Powerway.
According to the prosecution, former CEO Park is accused of conspiring with CEO Kim in May to withdraw 5 billion KRW of paid-in capital deposited in Hwaseong Industry, the largest shareholder of Haeduck Powerway, and arbitrarily using it for the redemption of the Optimus fund (embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes). He is also charged with embezzlement under the same act, violation of the Commercial Act, falsification of electronic records, and use of falsified electronic records for falsely paying an additional 5 billion KRW of paid-in capital.
He is also accused of conspiring with CEO Kim to use a 13.3 billion KRW loan from Haeduck Powerway in May for the redemption of the Optimus fund (embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes).
Former CEO Park is also charged with violating the Capital Markets Act by holding Haeduck Powerway shares under the name of a paper company in November-December last year and failing to disclose this.
He is further accused of conspiring with Director Kang to use 33 million KRW of Haeduck Powerway funds in August last year for his own shareholder meeting voting rights acquisition costs (fraud under the Act on the Aggravated Punishment of Specific Economic Crimes), and of preparing and submitting false documents impersonating the CEO to auditors to conceal a 3 billion KRW deficit in Sebo Tech funds (breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes, forgery and use of a document with false qualifications, and violation of the External Audit Act for Stock Companies).
Separately, Director Kang is accused of embezzling 1.5 billion KRW of Sebo Tech funds in February this year by using it as investment capital for a currency exchange brokerage business (embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes), and conspiring with Chairman Oh to embezzle 2.25 billion KRW of Sebo Tech funds for acquisition funds of Myungseong TNS, a KOSDAQ-listed company (embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes).
Chairman Oh is also charged with illegally using 3 billion KRW of Sebo Tech funds in May last year as a down payment for the acquisition of Semco, a KOSDAQ-listed company (embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes).
The prosecution stated, “We plan to continue investigating the usage of Optimus fund money and other related matters.”
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