2023-10-10 12:11:00
A private banker (PB) affiliated with Mirae Asset Securities is accused of embezzling 73.4 billion won by manipulating the assets of a venture capital company family for 11 years by making it look like the fund had made profits, and receiving loans or trading stocks in the victim’s name to hide the losses. Private banker Mr. Yoon (56) was indicted. PB is a financial expert dedicated to managing customers’ assets, and is said to have strong trust from the corporate family.
The Seoul Southern District Prosecutors’ Office’s Financial Investigation Division 2 (Chief Park Geon-young) announced on this day that it had arrested and indicted Mr. Yoon on charges of violating the Capital Markets Act, violating the Act on the Aggravated Punishment of Specific Economic Crimes, falsifying and executing private documents, and embezzlement in business. According to the prosecution, Mr. Yoon is suspected of providing false documents with inflated fund returns to 17 family members of the Chairman of Company A and embezzling 73.4 billion won over a period of approximately 11 years from December 2011 to January of last year. It took advantage of the fact that victims trusted themselves and did not directly check fund returns. Prosecutors believe that the actual damage, excluding the current fund balance and profits, is 11.1 billion won.
He is said to have tricked victims into signing up for the fund by claiming it was a ‘tax-exempt fund with a guaranteed 10% rate of return’ and then sent them texts and emails with false rates of return. In order to block information automatically sent from securities firms, fake email addresses were registered in computer customer information.
Mr. Yoon is also accused of taking out loans in the victims’ names and buying and selling stocks to hide his losses. From December 2016 to January last year, Mr. Yoon forged withdrawal requests and withdrew 23 billion won from the victims’ accounts 143 times. It is said that Mr. Yoon paid this money to investors as profits or used it for stock investment. From June 2016 to September 2020, she forged applications for securities-backed loans and obtained loans worth 12.7 billion won in the name of investors on 148 occasions.
Mr. Yoon is also accused of forging stock order sheets in the victim’s name and trading stocks 7,105 times from January 2012 to February of last year, causing a loss of 3.7 billion won in commissions in the process. There are also charges that in October 2017, 335 million won was arbitrarily withdrawn from some victims’ accounts and loaned to others or used for personal living expenses.
It is said that Company A’s family has never personally checked the status of their assets for 11 years. Then, in February last year, Mr. Yoon’s crime was revealed when he arbitrarily sold the shares of some of the victims who were major shareholders of Company A. This is because the details of changes in the shares of major shareholders have been disclosed.
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