[Asia Economy Reporter Yoo Hyun-seok] Investors are demanding the Financial Supervisory Service (FSS) to cancel contracts related to the 'Italia Healthcare Fund,' a private equity fund that caused a large-scale suspension of redemptions.
Civil organizations, including the National Private Equity Fund Fraud Victims Joint Countermeasure Committee, held a press conference in front of the FSS on the 19th, asserting that "the FSS should decide to cancel contracts just like with the Lime and Optimus funds."
The Italia Healthcare Fund is a product that invests in medical fee accounts receivable billed by Italian hospitals to local governments. Approximately 150 billion KRW worth was sold from October 2017 to September 2019.
Since the end of 2019, repayment delays and early redemption failures occurred, leading to a suspension of sales last year. The damage identified so far is reported to exceed 110 billion KRW.
The FSS Dispute Mediation Committee related to this fund is scheduled to be held tomorrow. Civil organizations and victims emphasized, "The seller, Hana Bank, told customers that 'the principal is guaranteed as long as the Italian government does not collapse, and early redemption will definitely occur within 13 months,' but all of this was false."
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