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| 신한은행 (사진=신한은행) |
[Alpha Biz=(Chicago) Reporter Paul Lee] The first trial court fined Shinhan Investment & Securities Co., which was put on trial for incomplete sales management of funds related to the Lime Asset Management scandal, as it was found guilty of some charges.
Lee Geun-soo, a senior judge at the Seoul Southern District Court's Criminal Affairs Department 3, fined Shinhan Investment & Securities Co. 50 million won at around 2 p.m. on the 15th on charges of violating the Capital Market Act.
The court found him not guilty of unhealthy business activities among the alleged violations of the Capital Markets Act, and found him guilty of fraudulent transactions.
Shinhan Investment & Securities Co. was accused of neglecting his duty to caution and supervise Lim, former head of the PBS business division, who sold three Lime trade funds worth 48.2 billion won at Shinhan Investment Corp. without notifying investors of the insolvency of overseas funds.
After prosecuting Lim, the prosecution handed over Shinhan Investment & Securities to trial in January 2021 in accordance with the joint punishment regulations. Lim was sentenced to eight years in prison and fined 300 million won by the Supreme Court in December of that year.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
