'Optimus Lobby' Former Financial Supervisory Service Director Appears in Court

[Asia Economy Reporter Baek Kyunghwan] Yoon, former director of the Financial Supervisory Service, who is under prosecution for alleged lobbying involving Optimus Asset Management, appeared in court on charges of accepting bribes.

On the 14th, Yoon attended the first appeal trial held at the Seoul Central District Court Criminal Appeal Division 5-1 (Presiding Judges Choi Byung-ryul, Yoo Seok-dong, Lee Gwan-hyung).

This trial is a separate case from the Optimus-related allegations. Yoon was indicted on charges of accepting a total of 30 million KRW in exchange for arranging preferential loans or reducing the severity of bank sanctions (bribery under the Act on the Aggravated Punishment of Specific Economic Crimes), and was found guilty in the first trial.

The first trial court sentenced Yoon in July this year to 2 years and 2 months in prison with a 4-year probation, fined him 60 million KRW, and ordered the confiscation of 30 million KRW. Yoon appealed the first trial verdict, while the prosecution did not. The appeal trial sentencing is scheduled for the 11th of next month.

Meanwhile, Yoon is also accused of receiving several tens of millions of KRW in bribes (accepting brokerage fees under the Act on the Aggravated Punishment of Specific Economic Crimes) from Kim Jaehyun, CEO of Optimus, in return for connecting financial industry figures including officials from Hana Bank, the fund trustee.

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