Only Double-Digit Individual Trials, Increasing Co-Defendants... Lime Scandal Court Battle Intensifies

Over 10 Trials at Seoul Southern District Court... More Than 20 Indicted Including Former Lime Chairman Kim Bong-hyun and Others
Complexity of Trials Expected to Increase Further with Fugitives Still at Large

[Asia Economy Reporter Yoo Byung-don] The legal battle related to Lime Asset Management, which faced a redemption suspension crisis worth around 1.6 trillion won, is set to intensify. There are more than 10 individual trials and about 20 people have been indicted, with additional cases yet to be prosecuted, making a prolonged legal battle inevitable.

The Criminal Division 6 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Cho Sang-won), investigating the Lime incident, indicted loan shark Hwang on the 25th for violating the Capital Markets Act by participating in market manipulation of Kosdaq-listed company Esmo, in which Lime funds were invested, and illegally gaining over 10 billion won.

Hwang was arrested on the 11th on charges of acquiring illegal profits worth approximately 10.3 billion won using a corporate account he operated, at the request of Jo, who took over Esmo without capital.

With this, the number of people indicted by prosecutors in connection with Lime has surpassed 20. Previously, prosecutors indicted more than 20 individuals, including former Lime Vice President Lee Jong-pil, two former executives of Shinhan Financial Investment, former Blue House administrator Kim, and market manipulators.

The Lime incident involves a massive amount of money and is entangled with financial institutions and various companies, resulting in a complex web of stakeholders. Consequently, there are more than 10 individual cases prosecuted separately. The Seoul Southern District Court, currently handling the Lime-related trials, has divided the cases among Criminal Division 11 (Chief Judge Lee Hwan-seung), Criminal Division 12 (Chief Judge Oh Sang-yong), and Criminal Division 13 (Chief Judge Shin Hyuk-jae) to conduct the trials.

Moreover, the trials become even more complicated when including those still at large or arrested but not yet indicted. Former Star Mobility Chairman Kim Bong-hyun, identified as the 'broker' of Lime, is currently on trial at the Suwon District Court for embezzlement related to Suwon Passenger Transport. Prosecutors plan to transfer Kim’s custody to the Seoul Southern District Court for indictment once the Suwon Passenger Transport trial concludes.

Additionally, Star Mobility CEO Lee, who was arrested on the 18th, has not yet been indicted. Lee, from the same hometown as former Chairman Kim, served as president of Gwangju MBC before becoming Star Mobility CEO in July last year. He reportedly met with senior Blue House officials and ruling party lawmakers to request assistance in resolving the Lime crisis. During the investigation, Kim testified that through Lee’s introduction, he met Democratic Party lawmaker A and gave him luxury suits and tens of millions of won.

Meanwhile, prosecutors are also focusing on securing the custody of Metropolitan Chairman Kim (47), Reed Chairman Kim (54), and Esmo Chairman Lee (53), who received Lime investments. Including these individuals, the scale of trials related to the Lime incident is expected to grow even larger.

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