Prosecutors Conduct Search and Seizure at Shinhan Financial Investment Headquarters in 'Lime Scandal' Case

Second Securities Firm Following KB Securities on the 28th

[Asia Economy Reporter Yoo Byung-don] The prosecution investigating the Lime Asset Management scandal has begun a search and seizure operation at Shinhan Financial Investment, one of the Lime fund distributors. This is the second securities firm to be raided, following KB Securities on the 28th.

The Criminal Division 6 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Kim Rak-hyun) announced that they conducted a search and seizure at the headquarters of Shinhan Financial Investment located in Yeouido, Yeongdeungpo-gu, Seoul, around 11 a.m. on the 30th.

The Criminal Division 6 of the Seoul Southern District Prosecutors' Office has been investigating the 'Lime scandal' since February, and the search and seizure on this day appears to be aimed at securing materials related to the Lime scandal from Shinhan Financial Investment, a distributor of Lime funds.

The Lime scandal involves Lime Asset Management deceiving investors by selling defective funds through securities firms and banks, resulting in damages amounting to approximately 1.6 trillion won.

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