Prosecutors Arrest and Indict Skin&Skin Advisor Involved in 'Optimus' Scandal
[Asia Economy Reporter Baek Kyunghwan] The prosecution has indicted Yoo, the chief advisor of the new business division at cosmetics manufacturer Skin&Skin, who is suspected of being involved in the large-scale fund redemption suspension incident of Optimus Asset Management. Additionally, Kim, the CEO of Optimus Asset Management, and Yoon, a registered director and lawyer at H Law Firm, who were previously indicted, have been additionally charged.
According to the prosecution on the 10th, the Seoul Central District Prosecutors' Office Investigation Division 1 (Chief Prosecutor Oh Hyuncheol) has arrested and indicted Yoo, who is suspected of violating the Act on the Aggravated Punishment of Specific Economic Crimes (fraud and embezzlement), the Capital Markets Act (unfair trading), and forgery and use of private documents related to fraud.
The prosecution has also applied the same charges to Kim, the CEO of the asset management company, and additionally charged Yoon with forgery and use of private documents.
Yoo and Kim are suspected of using the investment funds raised from June 2017 to November 2018, under the pretense of investing in public institution-ordered government construction sales receivables, for acquiring non-performing bonds and for fund recycling. So far, 378 victims have been identified, with the damage amount reported to be around 358.5 billion KRW.
Furthermore, Yoo and others are also suspected of embezzling 15 billion KRW of funds from Skin&Skin, a KOSDAQ-listed company, in June by falsely claiming the money was used to purchase masks. It was investigated that they forged transfer confirmation documents to submit to Skin&Skin to pretend that the mask purchase payment had been made.
Hot Picks Today
!["It Has Now Crossed Borders": No Vaccine or Treatment as Bundibugyo Ebola Variant Spreads [Reading Science]](https://cwcontent.asiae.co.kr/asiaresize/93/2026052019230771274_1779272587.jpg)
"It Has Now Crossed Borders": No Vaccine or Treatment as Bundibugyo Ebola Variant Spreads [Reading Science]
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
- "Am I Really in the Top 30%?" and "Worried About My Girlfriend in the Bottom 70%"... Buzz Over High Oil Price Relief Fund
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
In addition, Yoo is suspected of embezzling about 1.6 billion KRW of company funds for personal debts and other uses after gaining control of company A through a paid-in capital increase in February last year, and using the funds between July and August of the same year. A prosecution official stated, "We will continue to investigate the background that made the large-scale fund fraud possible and the usage of the fund money."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
