NH Investment & Securities "No Simulation of Returns with Optimus CEO Kim Jaehyun"

[Asia Economy Reporter Lee Seon-ae] NH Investment & Securities strongly denied on the 15th that it had conspired regarding the compensation of returns for the Optimus Asset Management fund during the first trial related to the case.

In a statement released that day, the company said, "NH Investment & Securities employees never conspired with Optimus CEO Kim Jae-hyun regarding the fund returns, and neither the company nor its employees had any motive to commit such a crime," adding, "Upon checking the expected returns near the fund's maturity, the returns fell short of the target returns initially presented by Optimus at the time of the fund's establishment. Optimus requested an investigation into the cause as part of the normal post-management procedures, and they explained that there was a calculation error, which was reflected in the redemption."

They further elaborated, "Our company faithfully carried out routine tasks such as verifying the target returns and actual returns presented by the asset management company in accordance with the fund's post-management procedures."

Additionally, NH Investment & Securities rebutted the provision of the Capital Markets Act, which prohibits providing certain benefits to investors after the fact, a key issue in the trial that day, stating, "Since the party providing the benefits was not a financial investment business operator (distributor) but a private bond issuer, it does not fall under the prohibited post-benefit provision under the Capital Markets Act."

NH Investment & Securities reiterated, "We did not provide any benefits to customers, and we will do our best to ensure that the court concludes that the opinions of our employees regarding the prosecution's allegations during the trial are reasonable."

Meanwhile, on the morning of the same day, the Seoul Central District Court Criminal Division 23 (Judge Lee Gwang-yeol) held the first trial session for NH Investment & Securities employees and others indicted for violating the Capital Markets and Financial Investment Business Act in connection with this case. The prosecution explained in the summary of charges that the defendants introduced and sold the Optimus fund products, which do not guarantee principal, to investors through branch private bankers (PBs) as if the target returns were certain. When the fund returns fell short of the target on the maturity date, they allegedly conspired with CEO Kim Jae-hyun to increase the returns. They were also charged with providing certain benefits to Optimus fund investors on about eight occasions without justifiable reasons after the fact.

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