Prosecution Requests Arrest Warrant for Former Shinhan Financial Investment Executive in 'Rhyme Incident'

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Byung-don] The prosecution investigating the 1.6 trillion won 'Lime Asset Management Redemption Suspension Incident' has filed an arrest warrant for a former executive of Shinhan Financial Investment.

The Criminal Division 6 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Cho Sang-won) announced on the 26th that it had filed an arrest warrant against Im, former head of the PBS Division at Shinhan Financial Investment, on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes (bribery, fraud) and the Capital Markets Act.

This is the first time the prosecution has filed an arrest warrant against a key suspect related to the 'Lime Incident.' Former head Im was urgently detained by the prosecution the day before.

Shinhan Financial Investment is suspected of having sold 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 is identified as the person who led the operation and sale of such products.

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