Former Bank Employee Received 100 Million KRW Commission During Overseas Fund Sales Process

A former Hana Bank employee who was arrested and indicted on charges of fraudulently selling the Italy Healthcare Fund has been found to have received 100 million won in bribes from a broker while selling another overseas fund.

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On the 3rd, the Financial Investigation Division 2 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Chae Hee-man) detected that Shin, a former Hana Bank employee who was arrested and indicted in January due to the Italy Healthcare redemption suspension incident, received 100 million won in bribes from an overseas fund broker named Choi.

The prosecution believes that Shin received the bribes from Choi as a reward for enabling the sale of the UK Bridge Loan Fund at Hana Bank in 2019. After being introduced to the UK Bridge Loan Fund by Choi in June 2018, Shin completed the design of the domestic fund product through domestic asset management companies. Hana Bank sold approximately 24 billion won worth of the UK Bridge Loan Fund in 2019. Subsequently, Choi personally handed over a total of 100 million won to Shin in two installments in April and July 2019.

The prosecution added charges of bribery upon detecting Shin's acceptance of the bribes. Further investigations are underway to determine whether any fraudulent activities occurred during the process of introducing the UK Bridge Loan Fund into the domestic market.

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