Prosecutors Conduct Search and Seizure at NH and Hantoo Securities, Sellers in the 'Optimus Scandal'

[Image source=Yonhap News]

[Asia Economy Reporter Koh Hyung-kwang] Following the large-scale redemption suspension incident involving Optimus Asset Management, the prosecution has also conducted raids on H Investment & Securities and Korea Investment & Securities, the distributors of this fund.

According to related industry sources on the 25th, the prosecution is currently conducting raids on NH Investment & Securities and Korea Investment & Securities, the distributors of Optimus Asset Management. These two securities firms sold the most Optimus Asset Management funds.

The outstanding unpaid balance of Optimus Asset Management's funds is close to 500 billion KRW, with approximately 430 billion KRW sold through NH Investment & Securities and 28.7 billion KRW through Korea Investment & Securities. In particular, more than 800 individual investors invested through NH Investment & Securities, with their investment amount known to be around 210 billion KRW.

The prosecution launched a comprehensive raid just two days after the fund distributors filed a complaint. NH Investment & Securities submitted a complaint to the prosecution on the 23rd, accusing Optimus Management of fraudulent fund sales.

An NH Investment & Securities official said, "It is true that we are under investigation by the prosecution," but added, "We understand that this raid by the prosecution is to secure materials from the complainant, as NH Investment & Securities is the complainant."

Earlier, from 8 p.m. the previous day until 3 a.m. the following day, the prosecution sent about ten prosecutors and investigators to the Optimus Asset Management building in Samseong-dong, Gangnam-gu, Seoul, to conduct a raid. The prosecution seized computer hard disks and all related documents during this raid.

The raid targets reportedly included not only H Law Firm located in the same building but also companies suspected of receiving funds from the Optimus fund. Yoon, the representative of H Law Firm, is registered as a director of Optimus Asset Management and is considered one of the key figures in the suspicion.

Optimus Asset Management is suspected of raising thousands of billions of KRW from investors by claiming to invest in public institution sales receivables, but in reality, forging documents and investing in loan companies and insolvent businesses.

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