'1 Trillion Won Fund Fraud' Optimus CEO and 3 Associates Sentenced in First Trial Today

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[Asia Economy Reporter Kim Hyung-min] Kim Jae-hyun, CEO of Optimus Asset Management (Optimus), who was indicted on charges of fund fraud involving over 1 trillion won, will receive his first trial verdict on the 20th.

Kim, accused of violating the Act on the Aggravated Punishment of Specific Economic Crimes (fraud), will receive the first trial verdict at a sentencing hearing held by the Criminal Division 34 of the Seoul Central District Court (Presiding Judge Heo Seon-ah) in the afternoon. Sentences will also be handed down to Lee Dong-yeol, the second-largest shareholder of Optimus, and Yoon Seok-ho, a director of Optimus, who were indicted together.

Kim and others are accused of raising approximately 1.1903 trillion won from about 2,900 investors between April 2018 and June last year by claiming to invest in public institution accounts receivable, then using the funds for acquiring non-performing bonds and for circular fund transactions.

Including additional amounts indicted by the prosecution, the total investment raised by them reaches 1.3526 trillion won. Of this, the unpaid amount is estimated at 554.2 billion won, with about 3,200 victims. Among the investors are corporations and organizations, so the actual number of victims is believed to be higher.

This case drew suspicion as a power-related corruption scandal after it was revealed during the investigation that Kim had prepared a document titled "Regarding Fund Defect Remedy."

The document contained claims that former deputy prime ministers and ministers exerted influence over fund management, causing a major stir. However, the prosecution judged that the document was falsely prepared by Kim with the intent to mislead the case as a power-related corruption scandal.

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