A person suspected of arranging alleged political favors for an investment firm at the center of a massive financial fraud scandal said on Tuesday he will submit himself to prosecutors for questioning.
The person, a former head of an entertainment agency identified by his surname Shin, told Yonhap News that he will respond if the prosecution summons him, saying he fears he will be blamed for everything if he does not.
Shin is suspected of having worked as a political lobbyist for Kim Jae-hyun, the CEO of Optimus Asset Management. The 520-billion-won hedge fund was suspended in June.
Denying the lobbying allegation against him, Shin called the accusation a lie concocted by Optimus CEO Kim.
However, the Seoul Central District Prosecutors’ Office, which is investigating the fraud scandal, has reportedly secured statements from Optimus officials that Shin was a window to politicians and received one billion won in money and valuables from Kim in return, including a Rolls-Royce.
The fraud scandals involving Optimus and Lime Asset, once Korea’s largest hedge fund, are emerging as a political issue as opposition lawmakers voiced their suspicion over possible ties between the companies and the ruling bloc during parliamentary audit sessions.