Prosecutors Conduct Search and Seizure at Two Securities Firms Over 'Lime Preferential Redemption Suspicion'

The prosecution is conducting a search and seizure of two securities firms in connection with allegations of preferential redemptions related to the Lime Fund.

The Financial and Securities Crime Joint Investigation Team of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Dan Seong-han) has been carrying out a search and seizure since the morning of the 31st at the headquarters of Mirae Asset Securities and Yuanta Securities located in Jung-gu, Seoul.

[Image source=Yonhap News]

This search and seizure is reportedly aimed at securing materials related to allegations that the Lime Fund, just before it suspended large-scale redemptions in October 2019, returned funds preferentially to influential figures or specific companies during August to September of the same year.

The prosecution is understood to have applied charges of breach of trust and violations of the Capital Markets Act against Lee Jong-pil, former vice president of Lime Asset Management, in connection with the preferential redemptions.

Additionally, the prosecution is said to have secured and is analyzing materials related to Kim Sang-hee, a member of the Democratic Party of Korea, and Korea Zinc, amid allegations that they received funds before the Lime Fund suspended redemptions.

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