'Rhyme Trial' Comedian Kim Han-seok: "I Invested 800 Million Won Because They Said It Was as Safe as a Bank Deposit"

Securities Firm Center Head Hiding Loss Risks Testifies in Trial
Legal Representative: "Provides Clues for Victim Relief and Criminal Arrest"

[Asia Economy Reporter Yoo Byung-don] Comedian Kim Han-seok appeared as a witness at the trial of former Daishin Securities Center Head Jang, who was arrested and indicted on charges of selling Lime Asset Management fund products worth about 200 billion KRW to investors while concealing the possibility of losses.

On the 17th, at the trial of former Center Head Jang held at the Seoul Southern District Court Criminal Division 13 (Presiding Judge Shin Hyuk-jae), Kim testified, "Jang said, 'The possibility of principal loss in the Lime fund is close to zero (0) and it is as safe as a deposit. The chance of loss is more difficult than winning the lottery,' so I believed him and joined the fund."

Kim said, "Since I was investing a jeonse deposit of 825 million KRW, I always emphasized that it had to be safe, and Jang also said it was a safe product with 100% collateral and no possibility of principal loss," adding, "Because it was a product that generated safe returns, I introduced both the product I joined and Jang to my colleagues around me."

He also explained that the contract process did not properly follow procedures.

Kim said, "I always received verbal explanations from Jang about the investment, sent the money first, and then signed the contract later," adding, "For the phrases that had to be handwritten in the contract, Jang would pre-write them in pencil, and I would write over them."

Kim testified, "There were phrases like 'aggressive investment' and 'acceptance of 30% principal loss' in the contract, so I asked about them, but Jang always explained that they were just formalities and I didn’t need to worry," adding, "I also did not properly receive the product subscription forms or terms and conditions documents."

However, Kim said about the balance of the Lime fund, "I have not yet received redemption, and an email I received two months ago stated that the loss rate was 95%, so almost nothing remains."

Kim has filed a complaint against Jang along with other victims who invested through Jang and suffered losses.

Meanwhile, Kim Jung-chul, Kim’s legal representative, explained on his social network service (SNS) the day before, "Kim Han-seok is a person who courageously provided very important evidence for the relief of Lime victims and gave a lead to arrest the criminals," adding that Kim is the victim who provided the recorded conversation of former Center Head Jang.

The recorded phone conversation between former Center Head Jang and Kim, released in February this year, features Kim Bong-hyun, chairman of Star Mobility and a key figure in the Lime scandal, as well as former Blue House secretary Kim, who is currently detained and on trial.

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