'Optimus Lobbyist' Former Entertainment Agency CEO Detained for Custody Hearing... 'Silent'

[Asia Economy Reporter Seongpil Cho] Shin Mo, the former entertainment agency CEO identified as a key lobbyist in the Optimus Asset Management (Optimus) fund fraud case, appeared before the detention hearing on the 17th.

At 10:30 a.m., Judge Kim Taekyun, in charge of warrants at the Seoul Central District Court, held a pre-arrest suspect interrogation (warrant substantive examination) for Shin and is currently reviewing the necessity of detention. The decision on detention is expected to be made later that afternoon. Shin, who arrived at the court around 10:10 a.m., did not respond to reporters' questions about whether he admits the charges and proceeded directly to the courtroom.

Shin is accused of receiving money from Kim Jaehyun, CEO of Optimus, under the pretext of lobbying financial institutions along with broker Kim Mo, recently detained, and fugitive Ki Mo. He is also charged with handing over bribes worth hundreds of millions of won to key shareholders of Haeduck Powerway, a ship supplies manufacturer acquired with Optimus funds, in exchange for exercising voting rights.

Earlier, on the 13th, the Economic Crime Criminal Division of the Seoul Central District Prosecutors' Office (led by Chief Prosecutor Jumin Cheol) requested an arrest warrant for Shin on charges including violation of the Attorney Act, Commercial Act, and fraud under the Act on the Aggravated Punishment of Specific Economic Crimes.