Prosecutors Arrest Kim Mo, Chairman of Lime Scandal's '4 Major Chairmen'
[Asia Economy Reporter Jang Hyowon] Kim Mo, the actual owner of Lead, a KOSDAQ-listed company and one of the key figures known as the ‘4 Major Chairmen’ involved in the Lime Asset Management case that caused a 1 trillion won-scale redemption suspension incident, has been arrested.
On the 6th, the Criminal Division 6 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Jo Sangwon) announced that Kim was arrested that morning. Kim had been on the run and wanted by the prosecution while under investigation for embezzlement related to Lead, into which about 30 billion won of Lime funds were invested.
Recently, Lead’s management was indicted on charges of embezzling 83.4 billion won of company funds and received prison sentences ranging from 3 to 8 years in the first trial. Testimonies during the trial also suggested that Kim was behind the scenes.
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Meanwhile, Lee Jongpil, former Vice President of Lime Asset Management, is currently on trial after being detained on charges of receiving luxury watches, bags, imported cars, convertible bonds (CB), and other valuables worth a total of about 1.4 billion won in exchange for investing 30 billion won in Lead.
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