The prosecution stated that they are investigating in cooperation with the Financial Supervisory Service regarding funds that caused investment damages, such as Lime, Optimus, and Discovery Asset Management, but did not clearly disclose what information was shared. The prosecution also pointed out that the abolition of the Securities Crime Joint Investigation Unit was a factor behind the slow progress of the fund-related investigations.
On the afternoon of the 29th, a representative from the Seoul Southern District Prosecutors' Office told reporters that "routine consultations and information sharing have been conducted at the working-level" regarding the Financial Supervisory Service's announcement of inspection results on Lime, Optimus, and Discovery Asset Management. They added, "Since a considerable amount of information had already been confirmed through past investigations and inquiries, sharing was inevitable." However, they did not disclose in detail what specific information from the Financial Supervisory Service's investigation they were aware of.
On the 24th, the Financial Supervisory Service announced that new violations were discovered through additional inspections of Lime, Optimus, and Discovery Asset Management. The Financial Supervisory Service detected offenses such as Ponzi schemes related to Lime Asset Management funds and embezzlement by five invested companies; bribery, embezzlement of fund money, and conspiracy to engage in unfair trading related to Optimus Asset Management; and Ponzi schemes, misuse of insider information, and embezzlement of fund money related to Discovery Asset Management. The Financial Supervisory Service has been notifying the prosecution about these three funds since May. The Seoul Southern District Prosecutors' Office announced earlier this year plans to revisit these three fund cases.
The prosecution plans to conduct a comprehensive investigation into the three funds based on the inspection results provided by the Financial Supervisory Service. The offenses detected so far by the Financial Supervisory Service include breach of trust and embezzlement. The Financial Supervisory Service also pointed out that Kim Sang-hee, a member of the Democratic Party of Korea, received preferential redemptions related to Lime Asset Management. During the fund-related investigation, the prosecution is expected to broadly review whether there are other offenses beyond those already revealed through the Financial Supervisory Service. A prosecution official said, "We will thoroughly investigate the allegations raised," and added, "(The prosecution) will consider criminal offenses without limitation."
Investigations into other funds, such as the Italy Healthcare Fund, besides the three funds highlighted by the Financial Supervisory Service's announcement, are progressing slowly but continue. A prosecution official said, "The investigation is proceeding without issues, but from the perspective of those involved and third parties, the pace may be considered slow," and added, "There are cases where the speed is slow due to prioritization, but necessary measures are being taken while conducting the investigation."
The abolition of the Securities Crime Joint Investigation Unit in January 2020 was cited as a reason for the somewhat slow progress of the fund-related investigations. The Joint Investigation Unit, abolished by then-Minister of Justice Choo Mi-ae, was reinstated under the current administration and officially established as the 'Financial Securities Crime Joint Investigation Division' at the Seoul Southern District Prosecutors' Office in May. A prosecution official said, "Personally, I think the abolition had a significant impact," and added, "There is a big difference between when the Joint Investigation Unit existed and when it did not."
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