Prosecutors Request Arrest Warrants for Skin&Skin Chairman and Director Involved in 'Optimus Fraud' Case

[Image source=Yonhap News]

[Asia Economy Reporter Choi Seok-jin] The prosecution has requested pre-trial detention warrants for the chairman and director of Skin&Skin, a cosmetics manufacturing company, on charges of participating in the fraud committed by Optimus Asset Management.

The Economic Crime Criminal Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Joo Min-cheol) filed detention warrants on the 15th against Skin&Skin Chairman Lee Mo (53) and his younger brother Lee Mo (51), who is also a director of the company, on charges including embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes.

The two are accused of deceiving 378 victims by claiming to invest in accounts receivable from public institution-commissioned public works from June 2017 to November 2018, thereby embezzling approximately 358.5 billion won.

They are also charged with embezzling 15 billion won of Skin&Skin's funds in June by falsely claiming it was used for mask purchases, and then using it to prevent the suspension of redemptions of Optimus funds.

Earlier, the prosecution had indicted Yoo Mo (39), the general advisor of the company's new business division, on the same charges and detained him.

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