Prosecutors Request Arrest Warrant for Lime Headquarters Chief... Charges Include Violation of Capital Markets Act

[Asia Economy Reporter Choi Seok-jin] The prosecution investigating the 1.6 trillion won financial and investment fraud case known as the ‘Lime Asset Management Redemption Suspension Incident’ has requested an arrest warrant for an executive of Lime Asset Management involved in the case.

The Criminal Division 6 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Jo Sang-won) announced on the 2nd that it has requested an arrest warrant for Kim, head of Lime’s Alternative Investment Management Headquarters, on charges of violating the Capital Markets Act and breach of trust and bribery under the Act on the Aggravated Punishment of Specific Economic Crimes.

Kim, who was arrested by the prosecution the previous day, is identified as a figure who conspired with former Vice President Lee Jong-pil of Lime Asset Management, who is currently absconding, to escalate the Lime incident.

He is accused of avoiding losses worth approximately 1.1 billion won by disposing of stocks held by Lime funds using adverse undisclosed information.

He is also charged with receiving family golf club memberships from Star Mobility, a company owned by Kim Bong-hyun, who is identified as the real owner behind Lime, in exchange for providing funds to the company.

Additionally, Kim is accused of assisting Kim Bong-hyun’s embezzlement by withdrawing 19.5 billion won from Lime funds, whose redemption was suspended in January, and arranging for the acquisition of convertible bonds (CB) of Star Mobility.

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