FSS Verifies Authenticity of 'Public Institution Sales Bonds' Sold by Optimus

[Asia Economy Reporter Song Seung-seop] The Financial Supervisory Service (FSS) has launched an investigation to verify whether the "public institution accounts receivable" presented as the investment target of the Optimus Fund actually existed, targeting public institutions.

According to financial authorities and industry sources on the 21st, the FSS is confirming the existence of the accounts receivable presented by the Optimus Fund with some public institutions and local governments. The Optimus Fund had raised investment funds by claiming to have incorporated accounts receivable from Busan Metropolitan City, Korea Land Corporation, and Korea Expressway Corporation as assets.

If it is officially confirmed that the public institution accounts receivable did not exist or that such a product was impossible, there is speculation that, following the Lime Fund case, the Optimus Fund may also be subject to 100% compensation.

There have been many opinions that the public institution accounts receivable, which Optimus claimed to have sold, were impossible to issue in the first place. To issue accounts receivable, a company that wins a construction contract must receive a promise from the public institution to pay the construction fees. However, under current law, construction fees must be paid every 5 or 30 days, making it structurally impossible to create accounts receivable with terms of 6 months to 1 year.

The FSS Dispute Mediation Committee is expected to begin as early as March.

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