Freeze on 1.4 Billion KRW Assets of Former Lime Asset Management CEO Lee Jong-pil

Court Approves 1.4 Billion Won Seizure Preservation Order on Former Vice President Lee's Property

[Image source=Yonhap News]

[Asia Economy Reporter Yoo Byung-don] It has been confirmed that the prosecution has frozen the assets of Lee Jong-pil (42), former vice president of Lime Asset Management, who is the main culprit in the 'Lime Asset Management Scandal,' with estimated damages reaching 1.6 trillion won.

The Financial Investigation Division 6 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Jo Sang-won), which is investigating the Lime scandal, filed a petition for a provisional seizure order against the former vice president with the court, and the Seoul Southern District Court accepted it, the office announced on the 20th.

A provisional seizure order is a measure that prohibits the disposal of assets to prevent the defendant from hiding illegal assets obtained through crimes before the sentence is finalized. The court can issue a provisional seizure order either on its own authority or upon the prosecutor's request.

The assets frozen by the prosecution include apartment shares, deposits, bonds, and stocks under the name of the former vice president, totaling approximately 1.445 billion won.

The court stated, "There is sufficient reason to believe that the defendant acquired criminal proceeds and that these should be confiscated," and accepted the prosecution's petition for the provisional seizure order.

Previously, the former vice president was arrested and indicted 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 of Lime funds into Lead, a KOSDAQ-listed company.

He is also accused of avoiding losses amounting to about 1.1 billion won by selling all the stocks he held after hearing undisclosed internal information that G2 Hi-Sonic, a company invested in by Lime, was planning to sue its co-CEO for embezzlement and breach of trust.

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