"Will Keep Promises to Customers... Will Provide Financial Education"
John Lee, the former CEO of Meritz Asset Management who resigned amid allegations of illegal investment, has shared an update on his current status through his YouTube channel. Photo by YouTube channel 'John Lee Lifestyle Stocks' capture.
[Asia Economy Reporter Yoon Seul-gi] John Lee, former CEO of Meritz Asset Management who resigned amid allegations of illegal investments under his spouse's name, has shared an update on his current situation through his YouTube channel.
On the 7th, former CEO John Lee posted a video titled "Hello, this is John Lee" on his YouTube channel 'John Lee Lifestyle Stocks,' revealing his recent status. He began by saying, "The past one to two months were the hardest times in my life," and added, "It affected my reputation of over 30 years."
Previously, John Lee was known as the leader of the Donghak Ant Movement and served as a spiritual pillar for individual investors. In particular, he emphasized the importance of stock investment with messages such as "Seed money starts from the price of a cup of coffee" and "Live in rented housing instead of owning real estate and invest in stocks and funds." However, in May, allegations arose that he made illegal investments using his spouse's name, and ultimately, he tendered his resignation to Meritz Financial Group at the end of June.
In the video, John Lee explained the reason for sharing his update, saying, "In the U.S., when a CEO steps down, they usually go on 'Garden Leave,' meaning they stay home and mow the lawn, or in other words, they are told not to meet existing clients." He continued, "So I planned to cut off contact for about six months and spend time with my family, but I felt that was not the right thing to do."
He went on to say, "I have many personal commitments," mentioning promises such as supporting children in adoption centers and orphanages, running a junior investment club, selecting five elementary students who practice the content of his lectures to receive Meritz Fund shares at the end of the year, and helping pastors and missionaries prepare for their retirement. He added, "Since these are personal promises, I will continue to provide support."
John Lee also revealed that he experienced emotional distress after his resignation. He said, "I was so upset by this situation that I lost 5 kg. However, it is not necessarily a bad thing," and added, "As I lost weight, my blood pressure and diabetes levels improved."
Furthermore, John Lee expressed his determination to focus on financial education going forward. He stated, "I will live the second act of my life through this experience," and said, "In this second act, I want to live for children who have not received financial education and people who are unprepared for retirement. Like before, I want to keep saying, 'Don't buy coffee (use that money to invest).'"
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