A Group Arrested and Indicted for Facilitating 337 Billion KRW in Saemaeul Geumgo Fund Transactions

Deputy Manager of Saemaeul Geumgo and Vice President of M Capital Sent to Trial
Charged with Violation of the Act on the Aggravated Punishment of Specific Economic Crimes
Accused of Soliciting Fund Capital and Providing Special Privileges, Respectively

The vice president of a capital company who received money in exchange for facilitating fund capital investment from the National Credit Union Federation of Korea (NACUFOK) and an employee of NACUFOK who received money after receiving a request have been detained and brought to trial.

The Criminal Division 6 of the Seoul Eastern District Prosecutors' Office (Chief Prosecutor Seo Hyun-wook) announced on the 19th that it has arrested and indicted Mr. A, the vice president of the capital company, on charges of violating the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (accepting bribes and mediation), and the Act on the Regulation and Punishment of Criminal Proceeds Concealment, and Mr. B, the deputy general manager of NACUFOK, on charges of violating the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (accepting bribes, etc.).

Mr. A, known as the vice president of C Capital, is accused of requesting Mr. B, the deputy general manager of NACUFOK, a total of five times from November 2019 to April this year to attract a total of 337 billion KRW of NACUFOK fund capital to a certain asset management company.

Mr. B agreed to receive half of the sales revenue that Mr. A obtained from the asset management company as a reward for the facilitation. Mr. A is also accused of receiving about 3.1 billion KRW of that amount.

Mr. B is also accused of receiving a total of 160.32 million KRW by using Mr. A’s corporate card. Additionally, he is accused of receiving a total of 12.32 million KRW in gift certificates and US dollars from another asset management company over about one year from January last year, under the pretext of providing convenience for fund capital attraction.

It was investigated that Mr. B provided preferential treatment by demanding that an asset management company, which proposed investment alone, be included as a co-manager.

The prosecution plans to expand the investigation into allegations related to NACUFOK.

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