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[Alpha Biz=(Chicago) Reporter Paul Lee] It has been confirmed that police have launched an investigation after a private banker (PB) at Samsung Securities Co. was found to have pocketed customer money.
According to the industry on the 12th, an employee A working at a local Samsung Securities PB branch deliberately siphoned off customer money. Mr. A sold non-existent products to his customers. He induced customers' investment by saying, "We will allow them to invest in products sold only to Samsung Securities employees in terms of welfare," "We will allow them to purchase stocks at a lower price than the market price," and "We will provide more than 80% of profits annually."
The problem is that A received billions of won in customer investment into his personal account. Since then, the incident has surfaced as customers have raised the issue of not getting their investments and profits back. Mr. A is currently retired from Samsung Securities. This is because the reason for retirement occurred when he was booked in this case. Mr. A is known to have made a plan to repay customer damages with his severance pay.
Samsung Securities said, "This case has nothing to do with the company." This is because private financial transactions through employee personal accounts did not involve the company at all. "There is no investment that customers have deposited into Samsung Securities," a Samsung Securities official said. "The police and the FSS also understand the case as A's private financial transaction." The official added, "Given the precedent of a case similar to this time, most of the rulings were that the company was not responsible."
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
