Kim Jaehyun of 1 Trillion Won Optimus Fund Fraud Requests Court to Lift Asset Freeze

[Image source=Yonhap News]

[Asia Economy Reporter Bae Kyunghwan] Kim Jaehyun, CEO of Optimus Asset Management, who was sentenced to 25 years in prison in the first trial for the trillion-won 'Optimus Fund Fraud' case, has requested the court to cancel the freezing of his assets.

According to the legal community on the 8th, CEO Kim submitted an application to cancel the provisional seizure to the appellate court, Seoul High Court Criminal Division 5 (Presiding Judges Yoon Kang-yeol, Park Jaeyoung, Kim Sangcheol), on the 18th of last month.

Previously, the first trial court had issued a provisional seizure order on approximately 1.2 trillion won of assets belonging to CEO Kim and Mr. Lee, the second-largest shareholder of Optimus, in September. Provisional seizure is a procedure to freeze suspected criminal proceeds until the defendants' guilt is confirmed.

Meanwhile, CEO Kim was prosecuted on charges of deceiving investors by claiming to invest in public institution bonds from 2018 until last year, raising 1.3526 trillion won from 3,200 people. The first trial court recognized most of the charges as guilty, sentencing CEO Kim to 25 years in prison, a fine of 500 million won, and ordering a confiscation of 75.175 billion won.

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