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PPP Chastises Troubled Optimus Fund Seller, Suspects Outside Pressure

Written: 2020-10-16 15:57:50Updated: 2020-10-16 16:02:56

PPP Chastises Troubled Optimus Fund Seller, Suspects Outside Pressure

Photo : YONHAP News

The main opposition People Power Party(PPP) chastised the seller of the now-frozen funds by Optimus Asset Management, accusing the brokerage firm of deciding to sell the troubled fund due to outside pressure.

At Friday's parliamentary audit, the PPP grilled NH Investment and Securities CEO Jeong Young-chae about how the firm decided to sell the fund.

Jeong, who on Tuesday told parliament that management is barred from intervening in product sales, gave a different response, saying he left a memo ordering an employee to contact Optimus about the fund after receiving a call from an adviser to the firm.

Jeong, however, denied there was any pressure for the brokerage firm to sell the fund.

The ruling Democratic Party(DP), on the other hand, stressed that the focus shouldn't be on whether the ruling camp was involved in the scandal, but on punishing those who designed and sold the fund, as well as loopholes in the financial supervisory system.

At an audit of the Land Ministry, the PPP criticized the Moon Jae-in administration's real estate policies for not only failing to curb soaring housing prices, but instead causing a shortage of jeonse, or lump-sum rental housing.

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