Prosecution Urgently Arrests Former Shinhan Financial Investment Executive Over 'Lime Scandal'... Ministry of Justice Dispatches Two Additional Prosecutors

Key Figures Leading Product Management and Sales
Additional Dispatched Prosecutors Scheduled to Join on 26th and 30th

Victims of Lime Asset Management funds held a press conference on the 21st in front of the Seoul Southern District Prosecutors' Office in Yangcheon-gu, Seoul, urging the prosecution to conduct a swift investigation. The victims filed a complaint with the Seoul Southern District Prosecutors' Office against the head of Daishin Securities Banpo WM Center on charges including fraud under the Act on the Aggravated Punishment of Specific Economic Crimes and fraudulent trading under the Capital Markets Act. Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Yoo Byung-don] The prosecution investigating the 1.6 trillion won 'Lime Asset Management Redemption Suspension Incident' reportedly made an emergency arrest of a former executive of Shinhan Financial Investment on the 25th.

According to the legal community, the Criminal Division 6 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Cho Sang-won) is said to have made an emergency arrest of Im, former head of the PBS Headquarters at Shinhan Financial Investment, on the same day.

Shinhan Financial Investment is suspected of selling related products to general investors without disclosing the fund's insolvency while having an asset management contract (TRS - Total Return Swap) with Lime Asset Management. Former head Im was identified as the person who led the operation and sale of such products.

Some victims of the Lime fund investment filed complaints with the prosecution regarding this incident, naming former head Im as a suspect for fraud and violation of the Capital Markets Act.

It is reported that former head Im has currently left the company.

This is the first time the prosecution has forcibly secured the custody of a key suspect related to the 'Lime Incident.'

Meanwhile, the Ministry of Justice decided on the afternoon of the same day to dispatch two additional prosecutors to the investigation team. Currently, the Lime case investigation team consists of nine prosecutors, including four dispatched from the Seoul Central District Prosecutors' Office (3) and Seoul Eastern District Prosecutors' Office (1) last month. With this additional dispatch, the number will increase to eleven.

The two newly included prosecutors in the investigation team belong to the Daegu District Prosecutors' Office and Uijeongbu District Prosecutors' Office, and plan to join on the 26th and 30th, respectively.

Also, the prosecution held a 'Criminal Case Disclosure Deliberation Committee' related to the 'Lime Incident' on the same day to discuss the scope of disclosure of the investigation details.

According to the 'Regulations on Prohibition of Disclosure of Criminal Cases,' implemented by the Ministry of Justice since December 1 last year, the prosecution is, in principle, prohibited from disclosing information related to criminal cases, including the suspect's name, age, details of the crime, and statements.

This deliberation committee was held in writing due to concerns over the novel coronavirus infection (COVID-19), and the conclusion is expected to be announced on the afternoon of the 26th.

This content was produced with the assistance of AI translation services.