'Fund Corruption Allegations' Arrest Warrant for Saemaeul Geumgo Credit Guarantee Representative Rejected

"Some Dispute Over Certain Criminal Charges"

The court dismissed the arrest warrant for Ryu Hyuk (60), CEO of the Saemaeul Geumgo Central Credit Guarantee, who is suspected of granting preferential treatment in fund investments to a specific asset management company.

Seoul Eastern District Court.

According to the legal community on the 7th, Hong Ki-chan, the presiding judge in charge of warrants at the Seoul Eastern District Court, conducted a pre-arrest suspect interrogation (warrant substantive examination) for CEO Ryu around 2:30 p.m. that day and stated, "At this stage, there is room to dispute some elements of the criminal charges, and there is little risk of evidence tampering or flight."

Earlier, the prosecution arrested CEO Ryu on the 5th after uncovering clues linking him to the fund investment misconduct allegations at Saemaeul Geumgo Central Association. On the 19th of last month, Vice President Choi (44) of M Capital (formerly Hyosung Capital), who received a large amount of bribes from asset management company S in exchange for attracting approximately 300 billion won in Saemaeul Geumgo fund investments, and Deputy Manager Choi (43) of the Corporate Finance Department at Saemaeul Geumgo Central Association, who executed the actual investment upon request, were indicted in custody.

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