Victims of Optimus asset management, who suffered damages of 1.2 trillion won, have requested to cancel the business of NH Investment & Securities, a sales company.
On the morning of the 18th, all of the victims of Optimus are scheduled to hold a rally in front of the Financial Supervisory Service in Yeongdeungpo-gu, Seoul to cancel the business of NH Investment & Securities and decide on severe disciplinary action by Hana Bank and KSD.
According to the victims, Optimus recruited funds for investing in accounts receivable from public institutions, and NH Investment & Securities, a seller, did not properly check the product structure during the review process. The maturity of the fixed-sales receivables for projects ordered by public institutions is usually known as a short term of less than 30 days, but they claim that Optimus funds with maturities of more than 6 months were sold for commission. In addition, KFTC is suspected of helping to increase damage by renaming Optimus’ private equity bonds to public institution accounts receivable.
Accordingly, the Financial Supervisory Service is scheduled to hold a deliberation committee on papers against NH Investment & Securities and Hana Bank Securities Depository on the 18th.
The victims complained, “I relied entirely on the solicitation and provision of information to join NH Investment & Securities to join Optimus. Nevertheless, NH Investment & Securities is killing victims twice by cosplaying the victims instead of paying compensation.”
It is reported that NH Investment & Securities provided a differential offer of liquidity support of about 40% of the amount of damage with conditions and deadlines. They said, “Liquidity support means loans in the end, and if you don’t accept this, you have to file a civil suit and pay a high rate of legal interest,” they said. “It means to induce the victim to file a legal suit and commit a second offense.”
Victims pointed out that the Financial Supervisory Service was also responsible for the outbreak of Optimus. At the end of July 2017, when Optimus, whose capital was insufficient due to internal embezzlement and insolvent operation, presented a plan to increase funds through companies, the Financial Supervisory Service handled it as no problem. In the process, suspicion was raised that Optimus had lobbied the FSS.
Victims told the FSS to “order the cancellation of the business of NH Investment & Securities, the largest seller involved in the fraudulent sale,” and said, “As a public institution, the KFTC should take more serious responsibility. That way, similar cases will not recur, and financial justice will be established immediately.”
Optimus Asset Management CEO Kim Jae-hyun and executives were charged with collecting 1.2 trillion won from 2,900 investors and using it to take over bad debts and block the fund’s return, claiming that they are investing in accounts receivable from public institutions. There is also suspicion that it has lobbied extensively in the politics and financial sectors to counter various illegal transactions.
NH Investment & Securities is the largest seller of Optimus Fund. It sold 432.7 billion won, which is 84% of the total redemption stop. NH Investment & Securities are also confronting Optimus as victims of fraud.
Reporter Lee Ga-young [email protected]