Prosecutors Reinvestigate the Optimus Case... Will the 'Yongdusa-mi' Political and Business Suspicion Be Resolved?

[Asia Economy Reporter Hwang Seoyul] As the prosecution shows its determination to reinvestigate the 'Optimus Scandal,' attention is focused on whether suspicions involving political and government figures, which were left unresolved at the time, will be cleared. Investigations into the 'Lime Asset Management (Lime) Scandal' and the 'Discovery Fund Case' will also be resumed together.

According to the legal community on the 23rd, the Seoul Southern District Prosecutors' Office's Joint Investigation Team for Financial and Securities Crimes (Head Dan Seonghan) recently received all investigation materials related to the 'Optimus Asset Management (Optimus) Fund Scandal,' which was being investigated by the Seoul Central District Prosecutors' Office, and has begun reviewing them.

The 'Optimus Scandal' involves Kim Jaehyun, CEO of Optimus, and others who, from April 2018 to June 2020, deceived investors by claiming that Optimus Asset Management was investing in public institution sales bonds, raising approximately 1.3 trillion KRW in investment funds. However, in reality, these funds were used for bad bond investments or to cover other funds, causing massive damage. Considering that the prosecution's investigation at the time confirmed 3,200 victims and that there were also corporate and organizational investors, the actual scale of damage is estimated to be even larger.

Kim, the CEO considered the main culprit of the 'Optimus Scandal,' was indicted on charges including violation of the Act on the Aggravated Punishment of Specific Economic Crimes (fraud) and, on July 14 last year, the Supreme Court confirmed his sentence of 40 years imprisonment, a fine of 500 million KRW, and a confiscation of 75.175 billion KRW. On the same day, Lee Dongyeol (47), the second-largest shareholder of Optimus, was sentenced to 20 years imprisonment and fined 500 million KRW, and Director Yoon Seokho (45) was sentenced to 15 years imprisonment and fined 300 million KRW. Optimus was ultimately declared bankrupt by the court in August last year.

As the prosecution begins reinvestigating the Optimus case, attention is focused on whether suspicions regarding political and government figures who were possibly involved at the time will be resolved. The prosecution had effectively concluded the investigation in August 2021, 1 year and 2 months after starting, causing related suspicions about government and ruling party officials at the time to subside.

For example, there was suspicion that former Prosecutor General Chae Dongwook met then-Gyeonggi Province Governor Lee Jae-myung to solicit favors related to the Gyeonggi Bonghyeon Logistics Complex project, into which Optimus funds had flowed, but the prosecution failed to secure related evidence or testimonies.

There was also an investigation into allegations that Optimus paid for the use of a multifunction printer at the election campaign office of former Democratic Party leader Lee Nak-yeon during the general election. However, Lee's close aide and chief of the representative office, Mr. Lee, took an extreme step during the investigation, preventing the determination of whether higher-ups were involved. Instead, brokers from Optimus were prosecuted.

Yoon's wife, Lee Jin-ah, a former administrative officer at the Blue House's Civil Affairs Secretary Office, was also suspected of participating in the crime by holding a 10% stake in Optimus and being listed in affiliated companies.

Meanwhile, the Joint Investigation Team plans to reexamine the Lime Scandal and the Discovery Fund Case, which caused damages of approximately 1.6 trillion KRW and 260 billion KRW respectively.

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