'Redemption Suspension' Optimus Audit Results Imminent... How Much Will Be Recovered?

[Asia Economy Reporter Koh Hyung-kwang] The results of the audit by an accounting firm on Optimus Asset Management, which declared a large-scale suspension of redemptions, are expected to be released as early as the end of this month. Attention is focused on the extent of recoverable assets.

According to financial authorities and the financial investment industry on the 4th, Samil Accounting Corporation plans to deliver the audit results to NH Investment & Securities, the largest distributor, by the end of this month or early next month. The Financial Supervisory Service, appointed as the administrator, will also share the results.

The audit is a preliminary step to confirm recoverable assets among investment details and to determine the loss rate. Once the expected loss amount is confirmed, investors can start damage relief procedures such as applying for dispute mediation with financial authorities.

Samil Accounting Corporation, which began the full-scale audit in July, initially set the audit period at two months, but it is known that the audit has taken longer than planned due to unclear identities of investment destinations and ambiguous rights relationships.

Optimus Asset Management had raised investment funds by claiming to invest in safe public institution revenue bonds, but it has been revealed that the funds were invested in private bonds of unlisted companies with no business substance. The investment funds were then distributed to about 60 investment destinations including real estate development, stocks, and money lending through these companies.

Samil Accounting Corporation plans to classify fund assets into three categories, similar to the Lime Asset Management audit: assets that can be fully recovered, assets that can be partially recovered, and assets that cannot be recovered at all. By synthesizing these, an approximate recovery rate can be derived, but it is widely expected that the recovery rate will not be very high.

Kim Dong-hoe, Deputy Director of the Financial Supervisory Service, said at a back briefing after announcing the interim inspection results of Optimus on July 23, "The reliability of fund usage is low, so verification through asset audits is necessary," adding, "According to the information confirmed through interim distributors, a significant portion is difficult to recover and the value is low, so the fund recovery rate is expected to be low."

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