Former Meritz Asset Management CEO John Lee filed a lawsuit worth over 1 billion won against a media outlet that reported allegations of illegal investment, but he lost again in the second trial.
On the 7th, the 13th Civil Division of the Seoul High Court (Presiding Judges Moon Kwang-seop, Choi Seong-bo, Lee Jun-hyun) ruled against John Lee in the damages claim lawsuit he filed against Hankook Ilbo and three affiliated reporters, upholding the first trial's decision.
Previously, in June 2022, Hankook Ilbo reported that John Lee had allegedly invested 6 billion won worth of Meritz Asset Management financial products into an acquaintance's online peer-to-peer (P2P) lending company under his wife's name, raising suspicions of illegal investment and prompting an investigation by financial authorities. In response, John Lee filed a civil lawsuit demanding 1 billion won in damages and a correction notice, claiming that his reputation was damaged by false information.
The court stated, "Based solely on the evidence submitted by the plaintiff, it is insufficient to recognize the article as false," and regarding the term 'nominee investment,' it judged, "Considering that the spouse is a ceramic artist and John Lee has not been able to submit documents regarding the source of funds, there is no evidence to recognize it as false."
John Lee gained public attention by emphasizing long-term stock investment during the COVID-19 pandemic. However, he resigned from his position as CEO amid allegations of nominee investment.
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