Former Daishin Securities Center Head Charged with Selling Thousands of Billions in 'Lime Fund', Arrest Warrant Requested

[Asia Economy Reporter Lee Gwan-ju] The prosecution investigating the 'Lime Asset Management Scandal,' which caused damages amounting to 1.6 trillion won, has filed an arrest warrant for Jang, the former head of Daishin Securities Center, who sold several billion won worth of Lime funds.

The Criminal Division 6 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Jo Sang-won) announced on the 19th that they have filed an arrest warrant against former Center Head Jang on charges including violation of the Capital Markets Act.

Former Center Head Jang is accused of selling approximately 240 billion won worth of funds by encouraging subscriptions through false explanations or misleading information regarding important matters such as returns and losses to fund subscribers while selling Lime funds.

In a recorded conversation with a victim investor made public by the media, former Center Head Jang identified Kim Bong-hyun, chairman of Star Mobility, as the Lime 'jeonju (錢主, money master)' and described him as "a chairman who conducts enormous lobbying."

The Financial Supervisory Service previously conducted on-site inspections at Daishin Securities headquarters and Banpo WM Center in February and March, detecting multiple indications that former Center Head Jang was aware of the Lime fund's insolvency and liquidity issues in advance but still sold the funds, and reported these findings to the prosecution.

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